Gabriel Orozco Leads Christie's Online $2.4m 'First Open | Post-War & Contemporary Art' Auction

A work by Gabriel Orozco was the headline sale at Christie's Online 'First Open | Post-War & Contemporary Art' auction on June 4.

• The sale totaled $2.4m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 123 works sold totaling $2.4m.
• Estimates totaled: $1.52m (low) and $2.27m (high), excluding premiums.
• The sell-through rate was 87% of the original 142 lots announced.

The star lot was: Gabriel Orozco, Atomist: Crews Battle (1996), which sold for $201,600, 500% above its $30,000 low estimate. It has been traded once in the past.

The outperformer sold for 1300% above its low estimate. Atta Kwami, Zongo III (2010), sold for $44,100 ($3,000 low estimate). It has been traded once in the past.

• 54 works, or 44%, sold above their high estimate.
• 40 works, or 33%, sold within their low and high estimate.
• 29 works, or 24%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

17 works were backed by guarantees, including: Tania Marmolejo, I Always Come Back Here (2020). It sold for $56,700, 175% above its $20,000 low estimate.. It has been traded 3 times in the past.

Works that did not sell

19 works were bought-in, including: Sam Francis, Untitled Diptych (1979), estimated at $120,000 (low) to $180,000 (high). It has been traded 3 times in the past.

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.