Lawrence Alma-Tadema Leads Sotheby's $3.85m 'European & British Paintings Day Auction' in London
3 min read · 08 Dec 2023
The Frigidarium by Sir Lawrence Alma-Tadema sold for $798,400. Image courtesy of Sotheby's
A work by Lawrence Alma-Tadema was the headline sale at Sotheby's 'European & British Paintings Day Auction' on December 7 in London.
- The sale totaled $3.85m, falling short of its pre-sale low estimate.
Snapshot of the sale
- 52 works sold totaling $3.85m.
- Estimates totaled: $6.14m (low) and $8.9m (high), excluding premiums.
- The sell-through rate was 51% of the original 101 lots announced.
The star lot was: Lawrence Alma-Tadema, The Frigidarium (Undated), which sold for $798,400, 26% above its $630,300 low estimate. It has been traded 9 times in the past.
The outperformer sold for 400% above its low estimate. Georges de Feure, Studio by a Canal (Undated), sold for $63,900 ($12,600 low estimate).
Breakdown of results against auction house estimates that are disclosed
- 16 works, or 31%, sold above their high estimate.
- 34 works, or 65%, sold within their low and high estimate.
- 2 works, or 4%, 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: James Jacques Joseph Tissot, The Hammock (Undated), estimated at $1.01m (low) to $1.51m (high). It has been traded 4 times in the past.
Withdrawn before the sale
1 work was withdrawn before the sale: Charles Francois Daubigny, The Laundresses (Undated) estimated at $6,303 (low) to $8,824 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.