Gertrude Abercrombie Leads Rago $2.72m 'Post War & Contemporary Art' Auction

A work by Gertrude Abercrombie was the headline sale at Rago 'Post War & Contemporary Art' auction on March 12.

• The sale totaled $2.72m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 53 works sold totaling $2.72m.
• Estimates totaled: $1.68m (low) and $2.39m (high), excluding premiums.
• The sell-through rate was 83% of the original 64 lots announced.

The star lot was: Gertrude Abercrombie, Owl Trainer No. 2 (1947), which sold for $825,500, 312% above its $200,000 low estimate. It has not been traded before.

The outperformer sold for 789% above its low estimate. Virginia Berresford, Greece (Undated), sold for $35,600 ($4,000 low estimate). It has not been traded before.

• 26 works, or 49%, sold above their high estimate.
• 21 works, or 40%, sold within their low and high estimate.
• 6 works, or 11%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

8 works were bought-in, including: Larry Bell, Untitled (Maquette) (1987), estimated at $40,000 (low) to $60,000 (high). It has not been traded before.

Withdrawn before the sale

3 works were withdrawn before the sale, including: Henry Moore, Recumbent Figure maquette (1938) estimated at $20,000 (low) to $30,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.