Paul Delvaux Leads Bonhams $6.92m '20th/21st Century Art Evening Sale' in London

A work by Paul Delvaux was the headline sale at Bonhams '20th/21st Century Art Evening Sale' on October 10 in London.

• The sale totaled $6.92m (GBP5.29m), falling short of its pre-sale low estimate.

Snapshot of the sale

• 10 works sold totaling $6.92m.
• Estimates totaled: $9.55m (low) and $13.75m (high), excluding premiums.
• The sell-through rate was 67% of the original 15 lots announced.

The star lot was: Paul Delvaux, L'Orage (1962), which sold for $1.72m, 8% above its $1.59m low estimate. It has been traded 5 times in the past.

The outperformer sold for 178% above its low estimate. Pablo Picasso, Personnages (1967), sold for $664,900 ($239,100 low estimate). It has been traded once in the past.

• 4 works, or 40%, sold above their high estimate.
• 6 works, or 60%, 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

4 works were bought-in, including: Chaim Soutine, Portrait of a man (possibly Achille Richard) (1916), estimated at $929,900 (low) to $1.2m (high). It has been traded 4 times in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Rene Magritte, Mélusine (1953) estimated at $1.86m (low) to $2.39m (high).

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. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.