Jin Nong Leads Bonhams $475,400 'Chinese Paintings Online Sale'
3 min read · 24 Aug 2024
Plum Blossoms by Jin Nong sold for $55,800. Image courtesy of Bonhams
A work by Jin Nong was the headline sale at Bonhams 'Chinese Paintings Online Sale' on August 23.
- The sale totaled $475,400 (HKD3.71m), exceeding the pre-sale high estimate.
Snapshot of the sale
- 121 works sold totaling $475,400.
- Estimates totaled: $256,100 (low) and $423,700 (high), excluding premiums.
- The sell-through rate was 83% of the original 146 lots announced.
The star lot was: Jin Nong, Plum Blossoms (Undated), which sold for $55,800, 4252% above its $1,282 low estimate.
The outperformer sold for 4252% above its low estimate. Jin Nong, Plum Blossoms (Undated), sold for $55,800 ($1,282 low estimate).
Breakdown of results against auction house estimates that are disclosed
- 57 works, or 47%, sold above their high estimate.
- 43 works, or 36%, sold within their low and high estimate.
- 21 works, or 17%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
24 works were bought-in, including: Su Renshan, Seven Scholars (Undated), estimated at $7,694 (low) to $11,500 (high).
Withdrawn before the sale
1 work was withdrawn before the sale: Huang Binhong, Boating on River (Undated) estimated at $1,282 (low) to $2,565 (high).
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. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.