3 min read · 24 Oct 2023
Lezende vrouw (Femme lisant) by Leon de Smet sold for $229,500. Image courtesy of Sotheby’s
A work by Leon de Smet was the headline sale at Sotheby's, Online Art Impressionniste et Moderne Day Auction on October 23.
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. See below for an explanation of the jargon.
The star lot by value was: Leon de Smet,Lezende vrouw (Femme lisant) (1913), which sold for $229,500, 150% above the $84,000 low estimate . It has been traded once in the past.
The outperformer sold for 600% above its low estimate. Suzanne Valadon, Vase de fleurs devant une draperie (1919) sold for $81,000, estimated at $10,000 (low). It has been traded 3 times in the past.
Breakdown of results against auction house estimates that are disclosed
Bought-in works included: Joan Miro, Untitled (1926) estimated at $52,900 (low) to $74,000 (high). It has been traded 4 times in the past.
Henri Evenepoel, Au Bois de Boulogne (Undated) estimated at $5,288 (low) to $7,403 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.