Elton John's Irving Penn Leads Christie's Online $587,900 'Elton’s Superstars' Auction

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 sale totaled $587,900, exceeding the pre-sale high estimate.

Snapshot of the sale

• 65 works sold totaling $587,900.
• Estimates totaled: $230,000 (low) and $347,500 (high), excluding premiums.
• The sell-through rate was 100%, so a white-glove sale.

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.

• 52 works, or 80%, sold above their high estimate.
• 10 works, or 15%, sold within their low and high estimate.
• 3 works, or 5%, 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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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