3 min read · 07 Mar 2024
The Leap by Ernie Barnes sold for $356,100. Image courtesy of Bonhams
A work by Ernie Barnes was the headline sale at Bonhams 'Post-War & Contemporary Art' auction on March 1 in Los Angeles.
The star lot was: Ernie Barnes, The Leap (1972), which sold for $356,100, 18% above its $300,000 low estimate. It has been traded twice in the past.
The outperformer sold for 900% above its low estimate. Nancy Spero, Lovers (1962), sold for $83,000 ($8,000 low estimate). It has not been traded before.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
17 works were bought-in, including: Retna, Untitled (2018), estimated at $150,000 (low) to $200,000 (high). It has not been traded before.
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.