3 min read · 29 Feb 2024
Record Collection by Hilary Pecis sold for $700,000. Image courtesy of Sotheby's
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 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.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
0 works were bought-in.
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.