Rago Post War & Contemporary Art Auction Totals $7.45m

A work by Maria Martins was the headline sale at Rago 'Post War & Contemporary Art' auction on May 14.

• The sale totaled $7.45m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 124 works sold totaling $7.45m.
• Estimates totaled: $3.69m (low) and $5.44m (high), excluding premiums.
• The sell-through rate was 87% of the original 142 lots announced.

The star lot was: Maria Martins, Impossible (1946), which sold for $3.17m, 2013% above its $150,000 low estimate. It has not been traded before.

The outperformer sold for 2013% above its low estimate. Maria Martins, Impossible (1946), sold for $3.17m ($150,000 low estimate). It has not been traded before.

• 53 works, or 43%, sold above their high estimate.
• 46 works, or 37%, sold within their low and high estimate.
• 25 works, or 20%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

16 works were bought-in, including: Andreas Gursky, Ofenpass (1994), estimated at $100,000 (low) to $150,000 (high). It has not been traded before.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Hannah Wilke, Seura Chaya #3 (1978), estimated at $100,000 (low) to $150,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.