Ernst Ludwig Kirchner Leads Christie's $22m 'Impressionist and Modern Art Day and Works on Paper Sale' in London
3 min read · 08 Mar 2024
Sonnentänzerin by Ernst Ludwig Kirchner sold for $1m. Image courtesy of Christie's
A work by Ernst Ludwig Kirchner was the headline sale at Christie's 'Impressionist and Modern Art Day and Works on Paper Sale' on March 8 in London.
- The sale totaled $22m, exceeding the pre-sale high estimate.
Snapshot of the sale
- 143 works sold totaling $22m.
- Estimates totaled: $14.02m (low) and $21.24m (high), excluding premiums.
- The sell-through rate was 88% of the original 162 lots announced.
The star lot was: Ernst Ludwig Kirchner, Sonnentänzerin (1933), which sold for $1m, 57% above its $634,000 low estimate. It has been traded twice in the past.
The outperformer sold for 1200% above its low estimate. Jules Pascin, La Rousse (recto); Étude (verso) (1925), sold for $21,000 ($1,522 low estimate). It has not been traded before.
Breakdown of results against auction house estimates that are disclosed
- 94 works, or 66%, sold above their high estimate.
- 38 works, or 27%, sold within their low and high estimate.
- 11 works, or 8%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
17 works were bought-in, including: Alexej Jawlensky, Bildnis (Bildnis Toni) (1915), estimated at $317,000 (low) to $443,800 (high). It has been traded 8 times in the past.
Withdrawn before the sale
3 works were withdrawn before the sale, including: Juan Gris, Femme (1926) estimated at $279,000 (low) to $355,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.