Rembrandt Leads Christie's $9.89m 'Exceptional Impressions: The Alan and Marianne Schwartz Collection' Auction in New York
3 min read · 24 Oct 2024
Christ crucified between the two Thieves: 'The Three Crosses' by Rembrandt sold for $1.38m. Image courtesy of Christie's
A work by Rembrandt was the headline sale at Christie's 'Exceptional Impressions: The Alan and Marianne Schwartz Collection' auction on October 23 in New York.
- The sale totaled $9.89m, meeting the pre-sale estimate.
Snapshot of the sale
- 121 works sold totaling $9.89m.
- Estimates totaled: $6.77m (low) and $10.11m (high), excluding premiums.
- The sell-through rate was 95% of the original 128 lots announced.
The star lot was: Rembrandt, Christ crucified between the two Thieves: 'The Three Crosses' (1653), which sold for $1.38m, 38% above its $1m low estimate. It has been traded 11 times in the past.
The outperformer sold for 656% above its low estimate. Blanche Lazzell, West Virginia Hills (1928), sold for $90,700 ($12,000 low estimate). It has been traded once in the past.
Breakdown of results against auction house estimates that are disclosed
- 89 works, or 74%, sold above their high estimate.
- 28 works, or 23%, sold within their low and high estimate.
- 4 works, or 3%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
5 works were bought-in, including: Erich Heckel, Fränzi liegend (Fränzi reclining) (1910), estimated at $100,000 (low) to $150,000 (high). It has been traded once in the past.
Withdrawn before the sale
2 works were withdrawn before the sale, including: Pablo Picasso, La femme qui pleure I (Weeping Woman I) (1937) estimated at $1.2m (low) to $1.8m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.