Hilary Pecis Leads Sotheby's $2.48m 'Iovine and Young Center for High School Education Benefit Auction' in Los Angeles

A work by Hilary Pecis was the headline sale at Sotheby's 'Iovine and Young Center for High School Education Benefit Auction, hosted by Sotheby's on February 27 in Los Angeles.

• The sale totaled $2.48m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 11 works sold totaling $2.48m.
• Estimates totaled: $1.47m (low) and $1.95m (high), excluding premiums.
• The sell-through rate was 100%, so a white-glove sale.

The star lot was: Hilary Pecis, Record Collection (2024), which sold for $700,000, 600% above its $100,000 low estimate. It has not been traded before.

A talking point was: Noah Davis, Untitled (2015), which sold for $42,000, 100% above the low estimate at Sotheby's, Los Angeles. The mixed-media work on paper has not been traded before.

• 5 works, or 45%, sold above their high estimate.
• 4 works, or 36%, sold within their low and high estimate.
• 1 works, or 9%, 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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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