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Cuzco School Artist and Leonora Carrington Leads Christie's Online $1.93m 'Latin American Art Online' Auction

3 min read  ·  09 Oct 2024

The Virgin Adoring the Christ Child with Two Saints by Cuzco School Artist sold for $239,400.
Image courtesy of Christie's Online

The Virgin Adoring the Christ Child with Two Saints by Cuzco School Artist sold for $239,400. Image courtesy of Christie's Online

Works by Cuzco School Artist and Leonora Carrington were the headline sales at Christie's Online 'Latin American Art Online' auction on October 8.

  • The sale totaled $1.93m, meeting the pre-sale estimate.

Snapshot of the sale

  • 82 works sold totaling $1.93m.
  • Estimates totaled: $1.55m (low) and $2.21m (high), excluding premiums.
  • The sell-through rate was 74% of the original 111 lots announced.

The star lot was: Cuzco School Artist, The Virgin Adoring the Christ Child with Two Saints (Undated), which sold for $239,400, 1496% above its $15,000 low estimate. It has been traded 3 times in the past.

The outperformer sold for 1496% above its low estimate. Cuzco School Artist, The Virgin Adoring the Christ Child with Two Saints (Undated), sold for $239,400 ($15,000 low estimate). It has been traded 3 times in the past.

Leonora Carrington, Untitled (1931), sold for $35,300, 700% its low estimate. The watercolor and graphite on paper has been traded twice in the past.

Breakdown of results against auction house estimates that are disclosed

Breakdown of results against auction house estimates that are disclosed

  • 34 works, or 41%, sold above their high estimate.
  • 19 works, or 23%, sold within their low and high estimate.
  • 29 works, or 35%, sold below their low estimate.
  • 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

29 works were bought-in, including: Roberto Fabelo, Pegasus (2009), estimated at $40,000 (low) to $60,000 (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Withdrawn before the sale

0 works were withdrawn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.