Picasso's Owl Leads Christie's Online $2.46m 'Picasso Ceramics' Auction

A ceramic owl by Pablo Picasso was the headline sale at Christie's Online 'Picasso Ceramics' auction on June 3.

• The sale totaled $2.46m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 104 works sold totaling $2.46m.
• Estimates totaled: $931,200 (low) and $1.36m (high), excluding premiums.
• The sell-through rate was 100%, so a white-glove sale.

The star lot was: Pablo Picasso, *Hibou * (1953), which sold for $226,800, 275% above its $60,000 low estimate.

The outperformer sold for 600% above its low estimate. Pablo Picasso, *Ovale à l'oeil B * (1971), sold for $5,040 ($700 low estimate).

• 92 works, or 88%, sold above their high estimate.
• 12 works, or 12%, 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

0 works were bought-in.

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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