3 min read · 14 Sep 2024
'Paris' (Umbrella Jump), 1989 by Elliott Erwitt sold for $30,700. Image courtesy of Bonhams
A print of Elliott Erwitt's Paris (Umbrella Jump) was the star lot at Bonhams 'Elliott Erwitt A Life in Photographs' auction on September 13.
The star lot was: Elliott Erwitt, 'Paris' (Umbrella Jump), 1989 (Undated), which sold for $30,700, 338% above its $7,000 low estimate.
The outperformer sold for 338% above its low estimate. Elliott Erwitt, 'Paris' (Umbrella Jump), 1989 (Undated), sold for $30,700 ($7,000 low estimate).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
19 works were bought-in, including: Elliott Erwitt, 'Texas, USA' (Motel Room), 1962 (Undated), estimated at $4,000 (low) to $6,000 (high).
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.