Pablo Picasso Leads Christie's $7.61m 'Prints and Multiples' Auction in New York

A work by Pablo Picasso was the headline sale at Christie's 'Prints and Multiples' auction on October 25 in New York.

• The sale totaled $7.61m, meeting the pre-sale estimate.

Snapshot of the sale

• 144 works sold totaling $7.61m.
• Estimates totaled: $6.2m (low) and $9.06m (high), excluding premiums.
• The sell-through rate was 79% of the original 182 lots announced.

The star lot was: Pablo Picasso, Buste de femme d'après Cranach le Jeune (1958), which sold for $882,000, 26% above its $700,000 low estimate.

The outperformer sold for 572% above its low estimate. Pablo Picasso, Portrait de Jacqueline au Chapeau de Paille Multicolore (1962), sold for $100,800 ($15,000 low estimate).

• 79 works, or 55%, sold above their high estimate.
• 53 works, or 37%, sold within their low and high estimate.
• 12 works, or 8%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

2 works were backed by guarantees, including: Andy Warhol, Double Mickey Mouse (1981). It sold for $630,000, 26% above its $500,000 low estimate..

Works that did not sell

38 works were bought-in, including: Henri Matisse, Jazz (1947), estimated at $250,000 (low) to $350,000 (high).

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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