3 min read · 24 May 2024
Struttura ad elemento di neon by Lucio Fontana sold for $285,900. Image courtesy of Sotheby's, Online
A work by Lucio Fontana was the headline sale at Sotheby's, Online 'Contemporary Discoveries' auction on May 23.
The star lot was: Lucio Fontana, Struttura ad elemento di neon (1950), which sold for $285,900, 1200% above its $21,800 low estimate. It has not been traded before.
The outperformer sold for 1200% above its low estimate. Lucio Fontana, Struttura ad elemento di neon (1950), sold for $285,900 ($21,800 low estimate). It has not been traded before.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
18 works were bought-in, including: Chris Huen Sin Kan, Balltsz and Joel (2020), estimated at $76,100 (low) to $97,900 (high). It has been traded once in the past.
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.