3 min read · 21 Mar 2024
Sunday Afternoon by Laurence Stephen Lowry sold for $8m. Image courtesy of Christie's
A work by Laurence Stephen Lowry was the headline sale at Christie's 'Modern British and Irish Art Evening Sale' on March 20 in London.
The star lot was: Laurence Stephen Lowry, Sunday Afternoon (1957), which sold for $8m, 56% above its $5.12m low estimate. It has been traded once in the past.
The outperformer sold for 900% above its low estimate. R B Kitaj, Clerk's Dream (1972), sold for $672,800 ($64,000 low estimate). It has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
2 works were backed by guarantees, including: Barbara Hepworth, Sculpture with Colour (Oval Form) Pale Blue and Red (1943). It sold for $4.51m, 60% above its $2.81m low estimate.. It has been traded 3 times in the past.
7 works were bought-in, including: Laurence Stephen Lowry, Early Morning (1954), estimated at $1.02m (low) to $1.53m (high). It has been traded 3 times in the past.
1 work was withdrawn before the sale: Ben Nicholson, 1935 (painting) (1935) estimated at $895,400 (low) to $1.28m (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.