3 min read · 29 Feb 2024
Rock Groups, San Francisco, (Big Brother and the Holding Company and The Grateful Dead), 1967 by Irving Penn sold for $40,300. Image courtesy of Christie's Online
A work by Irving Penn was the headline sale at Christie's Online 'The Collection of Sir Elton John: Elton’s Superstars' auction on February 28.
The star lot was: Irving Penn, Rock Groups, San Francisco, (Big Brother and the Holding Company and The Grateful Dead), 1967 (1980), which sold for $40,300, 100% above its $20,000 low estimate. It has been traded twice in the past.
The outperformer sold for 1500% above its low estimate. Willy Rizzo, Salvador Dali, 1950 (Undated), sold for $16,400 ($1,000 low estimate). It has been traded once in the past.
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0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.