Barbara Hepworth Leads Sotheby's $12.02m 'Modern British and Irish Art Evening Auction' in London

A work by Barbara Hepworth, which had a guarantee, was the headline sale at Sotheby's 'Modern British and Irish Art Evening Auction' on June 6 in London.

• The sale totaled $12.02m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 24 works sold totaling $12.02m.
• Estimates totaled: $14.69m (low) and $22.82m (high), excluding premiums.
• The sell-through rate was 62% of the original 39 lots announced.

The star lot was: Barbara Hepworth, Sea Form (Atlantic) (1964), which sold for $5.07m, 33% above its $3.81m low estimate. The work was backed by a guarantee. It has been traded once in the past.

The outperformer sold for 300% above its low estimate. Magdalene Odundo, Untitled (1985), sold for $307,100 ($76,200 low estimate). It has been traded once in the past.

• 7 works, or 29%, sold above their high estimate.
• 12 works, or 50%, sold within their low and high estimate.
• 5 works, or 21%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

4 works were backed by guarantees, including: Barbara Hepworth, Sea Form (Atlantic) (1964). It sold for $5.07m, 33% above its $3.81m low estimate.. It has been traded once in the past.

Works that did not sell

10 works were bought-in, including: L.S. Lowry, Going to Work (1957), estimated at $1.52m (low) to $2.29m (high). It has been traded 3 times in the past.

Withdrawn before the sale

5 works were withdrawn before the sale, including: George Leslie Hunter, Still life with Tulips and Oranges (1925) estimated at $508,000 (low) to $762,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.