Sigmar Polke Leads Rago Arts & Auction Center $620,400 '20|21 Art' Auction in Lambertville

A work by Sigmar Polke was the headline sale at Rago Arts & Auction Center '20|21 Art' auction on December 11 in Lambertville.

• The sale totaled $620,400, meeting the pre-sale estimate.

Snapshot of the sale

• 145 works sold totaling $620,400.
• Estimates totaled: $579,800 (low) and $845,600 (high), excluding premiums.
• The sell-through rate was 77% of the original 188 lots announced.

The star lot was: Sigmar Polke, Untitled (1983), which sold for $42,800, 114% above its $20,000 low estimate. It has not been traded before.

The outperformer sold for 948% above its low estimate. Chryssa, Dark Voyage (1970), sold for $15,700 ($1,500 low estimate). It has not been traded before.

• 52 works, or 36%, sold above their high estimate.
• 34 works, or 23%, sold within their low and high estimate.
• 59 works, or 41%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

40 works were bought-in, including: Andy Warhol, Mammy (from the Myths Suite) (1981), estimated at $22,000 (low) to $28,000 (high). It has not been traded before.

Withdrawn before the sale

3 works were withdrawn before the sale, including: Charles Green Shaw, Abstract with Red, Blue and Black Forms (1940) estimated at $6,000 (low) to $8,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.