Joaquin Torres-Garcia Leads Christie's Online $1.39m 'Latin American Art Online' Auction

A work by Joaquin Torres-Garcia was the headline sale at Christie's Online 'Latin American Art Online' auction on March 15.

• The sale totaled $1.39m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 76 works sold totaling $1.39m.
• Estimates totaled: $1.5m (low) and $2.06m (high), excluding premiums.
• The sell-through rate was 74% of the original 103 lots announced.

The star lot was: Joaquin Torres-Garcia, Busto de hombre entre estructura con relieve (1940), which sold for $75,600, 51% above its $50,000 low estimate. It has been traded 7 times in the past.

The outperformer sold for 250% above its low estimate. Emilio Sanchez, Vista de velas (1979), sold for $44,100 ($12,000 low estimate). It has been traded twice in the past.

• 31 works, or 41%, sold above their high estimate.
• 17 works, or 22%, sold within their low and high estimate.
• 28 works, or 37%, 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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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