Nguyen Van Binh Leads Bonhams $577,000 'Southeast Asian Modern & Contemporary Art' Auction in Hong Kong
3 min read · 11 Apr 2024
The Harvest by Nguyen Van Binh sold for $97,800. Image courtesy of Bonhams
A work by Nguyen Van Binh was the headline sale at Bonhams 'Southeast Asian Modern & Contemporary Art' auction on April 8 in Hong Kong.
- The sale totaled $577,000, meeting the pre-sale estimate.
Snapshot of the sale
- 22 works sold totaling $577,000.
- Estimates totaled: $457,500 (low) and $660,300 (high), excluding premiums.
- The sell-through rate was 73% of the original 30 lots announced.
The star lot was: Nguyen Van Binh, The Harvest (1993), which sold for $97,800, 27% above its $76,700 low estimate. It has been traded 3 times in the past.
The outperformer sold for 250% above its low estimate. Nguyen Trung, Lotus Offering (2005), sold for $45,800 ($12,800 low estimate). It has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
- 11 works, or 50%, sold above their high estimate.
- 11 works, or 50%, sold within their low and high estimate.
- 0 works, or 0%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
5 works were bought-in, including: Arie Smit, Children Playing (1989), estimated at $43,500 (low) to $61,400 (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Withdrawn before the sale
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.