LS Lowry Leads Christie's $30.23m 'Modern British and Irish Art Evening Sale' in London

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 sale totaled $30.23m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 25 works sold totaling $30.23m.
• Estimates totaled: $20.02m (low) and $29.65m (high), excluding premiums.
• The sell-through rate was 76% of the original 33 lots announced.

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.

• 14 works, or 56%, sold above their high estimate.
• 11 works, or 44%, sold within their low and high estimate.
• 0 works, or 0%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

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.

Works that did not sell

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.

Withdrawn before the sale

1 work was withdrawn before the sale: Ben Nicholson, 1935 (painting) (1935) estimated at $895,400 (low) to $1.28m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.