Jean Michel Folon Leads Bonhams $718,000 'Belgian Art' Auction in Brussels

A work by Jean Michel Folon was the headline sale at Bonhams Cornette de Saint Cyr 'Belgian Art' auction on May 27 in Brussels.

• The sale totaled $718,000, falling short of its pre-sale low estimate.

Snapshot of the sale

• 86 works sold totaling $718,000.
• Estimates totaled: $1.02m (low) and $1.39m (high), excluding premiums.
• The sell-through rate was 72% of the original 120 lots announced.

The star lot was: Jean Michel Folon, Love without borders (2003), which sold for $117,600, 97% above its $59,500 low estimate.

The outperformer sold for 400% above its low estimate. Marcel Arnould, Sans titre (Undated), sold for $8,334 ($1,622 low estimate).

• 45 works, or 52%, sold above their high estimate.
• 41 works, or 48%, sold within their low and high estimate.
• 0 works, or 0%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

34 works were bought-in, including: Jean Michel Folon, Bird fountain (1995), estimated at $302,800 (low) to $378,500 (high).

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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