Zao Wou-ki Leads Christie's Online $2.16m '20th/21st Century Online Sale'

A work by Zao Wou-ki was the headline sale at Christie's Online '20th/21st Century Online Sale' on May 30.

• The sale totaled $2.16m (HKD16.91m), meeting the pre-sale estimate.

Snapshot of the sale

• 89 works sold totaling $2.16m.
• Estimates totaled: $1.32m (low) and $2.31m (high), excluding premiums.
• The sell-through rate was 99% of the original 90 lots announced.

The star lot was: Zao Wou-ki, 16.4.63 (1963), which sold for $305,300, 139% above its $127,700 low estimate. It has been traded twice in the past.

The outperformer sold for 2101% above its low estimate. Yoshitomo Nara, Real One (2020), sold for $22,500 ($1,022 low estimate). It has been traded once in the past.

• 28 works, or 31%, sold above their high estimate.
• 34 works, or 38%, sold within their low and high estimate.
• 27 works, or 30%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

2 works were backed by guarantees, including: Speranza Calo-Seailles & Tsuguharu Foujita, White Cat; & Kitten, blue and gold background (1925). It sold for $17,700, 53% below its $38,300 low estimate.. It has been traded 3 times in the past.

Works that did not sell

1 work was bought-in: Zhang Kai, Distant Mountain (2008), estimated at $12,800 (low) to $25,500 (high). It has been traded 3 times in the past.

Withdrawn before the sale

0 works were withdrawn

Terms and definitions

All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Estimates, sale prices and totals are converted into US dollars. Sale prices are compared to the auction house’s low estimate, which do not include premiums.

Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.

Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.

Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.

Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.