Keith Haring Leads Christie's $18.74m 'Post-War and Contemporary Art Day Sale' in London

A work by Keith Haring, which had a guarantee, was the headline sale at Christie's 'Post-War and Contemporary Art Day Sale' on March 9 in London.

• The sale totaled $18.74m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 144 works sold totaling $18.74m.
• Estimates totaled: $12.87m (low) and $18.61m (high), excluding premiums.
• The sell-through rate was 84% of the original 172 lots announced.

The star lot was: Keith Haring, Untitled (1984), which sold for $1.22m, 59% above its $759,500 low estimate. The work was backed by a guarantee. It has been traded once in the past.

The outperformer sold for 700% above its low estimate. David Hockney, Ceramic Cat (1955), sold for $153,900 ($19,000 low estimate). It has been traded once in the past.

• 87 works, or 60%, sold above their high estimate.
• 52 works, or 36%, sold within their low and high estimate.
• 5 works, or 3%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

14 works were backed by guarantees, including: Keith Haring, Untitled (1984). It sold for $1.22m, 59% above its $759,500 low estimate.. It has been traded once in the past.

Works that did not sell

26 works were bought-in, including: Damien Hirst, Grecian Nude (2013), estimated at $443,100 (low) to $696,200 (high). It has been traded once in the past.

Withdrawn before the sale

2 works were withdrawn before the sale, including: A R Penck, Charly (1993) estimated at $63,300 (low) to $76,000 (high).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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.