Lucian Freud Leads Christie's $107.5m '20th / 21st Century: London Evening Sale'

A work by Lucian Freud, which had a guarantee, was the headline sale at Christie's '20th / 21st Century: London Evening Sale' on October 9 in London.

• The sale totaled $107.5m (GBP82.22m), meeting the pre-sale estimate.

Snapshot of the sale

• 48 works sold totaling $107.5m.
• Estimates totaled: $98.34m (low) and $146.2m (high), excluding premiums.
• The sell-through rate was 86% of the original 56 lots announced.

The star lot was: Lucian Freud, Ria, Naked Portrait (2006), which sold for $15.44m, 15% above its $13.39m low estimate. The work was backed by a guarantee. It has been traded once in the past.

The outperformer sold for 152% above its low estimate. Rene Magritte, Le grand style (1952), sold for $3.37m ($1.34m low estimate). The work was backed by a guarantee. It has been traded 5 times in the past.

• 17 works, or 35%, sold above their high estimate.
• 25 works, or 52%, sold within their low and high estimate.
• 6 works, or 12%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Auction record

Sarah Sze, Spell (undated), sold for $988,400, 34% above the artist’s previous record sale.

Guaranteed sales

25 works were backed by guarantees, including: Lucian Freud, Ria, Naked Portrait (2006). It sold for $15.44m, 15% above its $13.39m low estimate.. It has been traded once in the past.

Works that did not sell

4 works were bought-in, including: Pierre-Auguste Renoir, Portrait de fillette sur fond bleu (1890), estimated at $2.01m (low) to $3.35m (high). It has been traded 12 times in the past.

Withdrawn before the sale

4 works were withdrawn before the sale, including: Hurvin Anderson, Ball Watching IV (2003) estimated at $2.95m (low) to $3.75m (high).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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.