Lowry Leads Sotheby's $2.72m 'Made in Britain Day Auction' in London

A work by L.S. Lowry was the headline sale at Sotheby's 'Made in Britain Day Auction' on June 7 in London.

• The sale totaled $2.72m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 114 works sold totaling $2.72m.
• Estimates totaled: $3.39m (low) and $5.08m (high), excluding premiums.
• The sell-through rate was 70% of the original 164 lots announced.

The star lot was: L.S. Lowry, People Standing About (1955), which sold for $130,500, 100% above its $63,400 low estimate. It has not been traded before.

The outperformer sold for 900% above its low estimate. Christopher Richard Wynne Nevinson, Among the Bathers (1935), sold for $26,100 ($2,535 low estimate). It has not been traded before.

• 38 works, or 33%, sold above their high estimate.
• 40 works, or 35%, sold within their low and high estimate.
• 36 works, or 32%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

48 works were bought-in, including: Henry Moore, Seated Figure on Square Steps (1957), estimated at $126,800 (low) to $190,200 (high). It has not been traded before.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Winston Branch, Untitled (1982) estimated at $25,400 (low) to $38,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.