Monir Farmanfarmaian Leads Christie's Online $2.15m 'Modern & Contemporary Art Dubai' Auction

A work by Monir Farmanfarmaian was the headline sale at Christie's Online 'Modern & Contemporary Art Dubai' auction on May 31.

• The sale totaled $2.15m, meeting the pre-sale estimate.

Snapshot of the sale

• 74 works sold totaling $2.15m.
• Estimates totaled: $1.62m (low) and $2.31m (high), excluding premiums.
• The sell-through rate was 83% of the original 89 lots announced.

The star lot was: Monir Farmanfarmaian, Untitled (1974), which sold for $201,600, 150% above its $80,000 low estimate. It has been traded once in the past.

The outperformer sold for 350% above its low estimate. Ahmed Mater, Evolution of Man (2010), sold for $56,700 ($12,000 low estimate). It has been traded once in the past.

• 35 works, or 47%, sold above their high estimate.
• 29 works, or 39%, sold within their low and high estimate.
• 10 works, or 14%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

15 works were bought-in, including: Oscar Murillo, Movement and Rhythm Between One Place and Another #6 (2013), estimated at $60,000 (low) to $80,000 (high). It has been traded 4 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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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