3 min read · 13 Sep 2024
Summer by Liu Guosong sold for $16,400. Image courtesy of Bonhams
A work by Liu Guosong was the headline sale at Bonhams 'CLICK Modern & Contemporary Art Online' auction on September 12.
The star lot was: Liu Guosong, Summer (2005), which sold for $16,400, 27% above its $12,800 low estimate. It has not been traded before.
The outperformer sold for 283% above its low estimate. Fan Yang Tsung, Diagonal Pool (2016), sold for $12,300 ($3,208 low estimate). It has been traded once in the past.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
27 works were bought-in, including: Hsiao Chin, Composition Chi–272 (1981), estimated at $5,133 (low) to $7,699 (high). It has been traded once in the past.
5 works were withdrawn before the sale, including: Banksy, Banksy Di-Faced Tenner (Banksy 10-pound bank note) (2004) estimated at $1,925 (low) to $3,208 (high).
All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.