Henri Matisse Leads Christie's $8.6m 'Prints and Multiples' Auction in New York

A work by Henri Matisse was the headline sale at Christie's 'Prints and Multiples' auction on April 16 in New York.

• The sale totaled $8.57m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 188 works sold totaling $8.57m.
• Estimates totaled: $5.31m (low) and $8.04m (high), excluding premiums.
• The sell-through rate was 90% of the original 208 lots announced.

The star lot was: Henri Matisse, Jazz (1947), which sold for $504,000, 68% above its $300,000 low estimate. It has not been traded before.

The outperformer sold for 467% above its low estimate. Christo, Arc de Triomphe, Wrapped, Project for Paris (1989), sold for $22,700 ($4,000 low estimate).

• 117 works, or 62%, sold above their high estimate.
• 59 works, or 31%, sold within their low and high estimate.
• 12 works, or 6%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

19 works were bought-in, including: Wayne Thiebaud, Recent Etchings I (1979), estimated at $70,000 (low) to $100,000 (high).

Withdrawn before the sale

1 work was withdrawn before the sale: Andy Warhol, Cow (1966) estimated at $6,000 (low) to $8,000 (high).

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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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