David Hockney Leads Christie's Online $1.55m 'Contemporary Edition: New York' Auction
3 min read · 24 Jul 2024
Lithograph of Water Made of Thick and Thin Lines and Two Light Blue Washes by David Hockney sold for $151,200. Image courtesy of Christie's Online
A work by David Hockney was the headline sale at Christie's Online 'Contemporary Edition: New York' auction on July 23.
- The sale totaled $1.55m, meeting the pre-sale estimate.
Snapshot of the sale
- 191 works sold totaling $1.55m.
- Estimates totaled: $1.37m (low) and $2.03m (high), excluding premiums.
- The sell-through rate was 81% of the original 236 lots announced.
The star lot was: David Hockney, Lithograph of Water Made of Thick and Thin Lines and Two Light Blue Washes (1980), which sold for $151,200, 51% above its $100,000 low estimate.
The outperformer sold for 504% above its low estimate. Jim Dine, 12 Hearts (1971), sold for $6,048 ($1,000 low estimate).
Breakdown of results against auction house estimates that are disclosed
- 68 works, or 36%, sold above their high estimate.
- 78 works, or 41%, sold within their low and high estimate.
- 45 works, or 24%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
5 works were backed by guarantees, including: Jeff Koons, Balloon Dog (Yellow) (2015). It sold for $4,410, 10% above its $4,000 low estimate..
Works that did not sell
45 works were bought-in, including: John Baldessari, A B C Art (Low Relief): A/Ant, Etc. (Keyboard) (2009), estimated at $100,000 (low) to $150,000 (high).
Withdrawn before the sale
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.
