Guercino Leads Christie's $4.36m 'Old Masters' Auction in New York

A work by Guercino was the headline sale at Christie's 'Old Masters' auction on May 23 in New York.

• The sale totaled $4.36m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 74 works sold totaling $4.36m.
• Estimates totaled: $5.25m (low) and $8m (high), excluding premiums.
• The sell-through rate was 67% of the original 111 lots announced.

The star lot was: Guercino, Neptune (Undated), which sold for $491,400, 125% above its $200,000 low estimate. It has not been traded before.

The outperformer sold for 1200% above its low estimate. Studio of Jacopo Tintoretto, Portrait of Andrea Barbarigo, half-length, in a suit of armor with a naval battle beyond (1571), sold for $107,100 ($8,000 low estimate). It has been traded once in the past.

• 30 works, or 41%, sold above their high estimate.
• 25 works, or 34%, sold within their low and high estimate.
• 19 works, or 26%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

0 works were bought-in.

Withdrawn before the sale

5 works were withdrawn before the sale, including: Anthony van Dyck, Saint Jerome in the wilderness (Undated) estimated at $300,000 (low) to $500,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.