3 min read · 03 Oct 2024
Cazador by Fernando Botero sold for $1.13m. Image courtesy of Christie's
Works by Fernando Botero and Leonora Carrington were the headline sales at Christie's 'Latin American Art' auction on October 2 in New York.
The star lots were:
Fernando Botero, Cazador (1982), which sold for $1.13m, 41% above its $800,000 low estimate. It has not been traded before.
Leonora Carrington, Faet Fiada (The Appearance of a Wild Beast) (1951), sold for $1.13m, 125% more than the low estimate. Oil On Panel, 91.4 x 54.6cm. The work has been traded 4 times in the past.
The outperformer sold for 1052% above its low estimate. Bridget Tichenor, Misioneros (1965), sold for $403,200 ($35,000 low estimate). It has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
12 works were bought-in, including: Fernando Botero, Reclining Nude (2000), estimated at $500,000 (low) to $700,000 (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0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.