Cressida Campbell Leads Bonhams $748,800 'Important Australian Art' Auction in Sydney
3 min read · 08 May 2024
Parsley Bay, Sydney by Cressida Campbell sold for $129,700. Image courtesy of Bonhams
A work by Cressida Campbell was the headline sale at Bonhams 'Important Australian Art' auction on May 7 in Sydney.
- The sale totaled $748,800, falling short of its pre-sale low estimate.
Snapshot of the sale
- 39 works sold totaling $748,800.
- Estimates totaled: $1.14m (low) and $1.69m (high), excluding premiums.
- The sell-through rate was 53% of the original 73 lots announced.
The star lot was: Cressida Campbell, Parsley Bay, Sydney (1992), which sold for $129,700, 33% above its $97,200 low estimate. It has been traded 3 times in the past.
The outperformer sold for 500% above its low estimate. John Brack, The Racecourse Stand (1956), sold for $121,600 ($19,400 low estimate). It has been traded once in the past.
William Buelow Gould, Portrait of Harriet Matilda Grove set a new auction record, selling for $56,800, 28% above the artist’s previous record sale.
Breakdown of results against auction house estimates that are disclosed
- 7 works, or 18%, sold above their high estimate.
- 31 works, or 79%, sold within their low and high estimate.
- 1 works, or 3%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
34 works were bought-in, including: Brett Whiteley, The Ferry Coming In - Lavender Bay (1977), estimated at $194,500 (low) to $259,300 (high). It has not been traded before.
Withdrawn before the sale
0 works were withdrawn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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.