Louis Ritman Leads Christie's Online $2.52m 'American Atmosphere: An Important Private Collection' Auction

A work by Louis Ritman was the headline sale at Christie's Online 'American Atmosphere: An Important Private Collection' auction on October 18.

• The sale totaled $2.52m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 59 works sold totaling $2.52m.
• Estimates totaled: $1.37m (low) and $1.99m (high), excluding premiums.
• The sell-through rate was 95% of the original 62 lots announced.

The star lot was: Louis Ritman, Hollyhocks (Undated), which sold for $403,200, 101% above its $200,000 low estimate. It has been traded 3 times in the past.

The outperformer sold for 1160% above its low estimate. Guy Arthur Wiggins, Winter on 'The Street' (Wall St. Looking West Toward Trinity Church) (Undated), sold for $50,400 ($4,000 low estimate). It has been traded twice in the past.

• 34 works, or 58%, sold above their high estimate.
• 16 works, or 27%, sold within their low and high estimate.
• 9 works, or 15%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

3 works were bought-in, including: Franz A Bischoff, Red and Yellow Roses (1910), estimated at $40,000 (low) to $60,000 (high). It has been traded 3 times in the past.

Withdrawn before the sale

0 works were withdrawn

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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.