Renoir Leads Sotheby's $10.51m 'Modern Day Auction' in London

A work by Pierre-Auguste Renoir was the headline sale at Sotheby's 'Modern Day Auction' on June 26 in London.

• The sale totaled $10.51m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 65 works sold totaling $10.51m.
• Estimates totaled: $11.3m (low) and $16.1m (high), excluding premiums.
• The sell-through rate was 62% of the original 105 lots announced.

The star lot was: Pierre-Auguste Renoir, Femme dans un paysage, Cagnes (1905), which sold for $730,100, 64% above its $443,000 low estimate. It has been traded 9 times in the past.

The outperformer sold for 600% above its low estimate. Pierre-Auguste Renoir, Paysage - Fragment (1913), sold for $425,900 ($57,000 low estimate). It has been traded 3 times in the past.

• 34 works, or 52%, sold above their high estimate.
• 26 works, or 40%, sold within their low and high estimate.
• 5 works, or 8%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

35 works were bought-in, including: Diego Giacometti, Table-feuilles, modèle bas aux grenouilles (1980), estimated at $316,400 (low) to $443,000 (high). It has been traded once in the past.

Withdrawn before the sale

5 works were withdrawn before the sale, including: Odilon Redon, Chrysamthème, poinsettia et autres fleurs (1902) estimated at $316,400 (low) to $443,000 (high).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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.