3 min read · 27 Jun 2024
Nature morte à la suspension by Pablo Picasso sold for $50,400. Image courtesy of Rago Arts & Auction Center
A work by Pablo Picasso was the headline sale at Rago Arts & Auction Center 'Curated: PICASSO' auction on June 25 in Lambertville.
The star lot was: Pablo Picasso, Nature morte à la suspension (1962), which sold for $50,400, 16% below its $60,000 low estimate. It has not been traded before.
The outperformer sold for 700% above its low estimate. Pablo Picasso, Ceramics by Picasso (1950), sold for $8,820 ($1,000 low estimate).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
14 works were bought-in, including: Pablo Picasso, Portrait de Femme (1936), estimated at $20,000 (low) to $40,000 (high). It has not been traded before.
2 works were withdrawn before the sale, including: Pablo Picasso, Head of a Girl (from À Pablo Picasso by Paul Eluard) (1945) estimated at $5,000 (low) to $8,000 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.