Salvador Dali Leads Christie's $12.2m 'Impressionist and Modern Works on Paper Sale' in New York
3 min read · 19 May 2024
Rhinocéros (recto); Etude pour Rhinocéros (verso) by Salvador Dali sold for $1.74m. Image courtesy of Christie's
A work by Salvador Dali was the headline sale at Christie's 'Impressionist and Modern Works on Paper Sale' on May 18 in New York.
- The sale totaled $12.2m, meeting the pre-sale estimate.
Snapshot of the sale
- 86 works sold totaling $12.2m.
- Estimates totaled: $9.52m (low) and $14.24m (high), excluding premiums.
- The sell-through rate was 84% of the original 102 lots announced.
The star lot was: Salvador Dali, Rhinocéros (recto); Etude pour Rhinocéros (verso) (1959), which sold for $1.74m, 325% above its $400,000 low estimate. It has been traded twice in the past.
The outperformer sold for 1000% above its low estimate. Andre Derain, Paysage près de Collioure (1905), sold for $90,700 ($8,000 low estimate). It has been traded 6 times in the past.
Breakdown of results against auction house estimates that are disclosed
- 36 works, or 42%, sold above their high estimate.
- 34 works, or 40%, sold within their low and high estimate.
- 16 works, or 19%, 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: Pablo Picasso, Femme allongée (Dora Maar) (1938), estimated at $550,000 (low) to $750,000 (high). It has been traded 3 times in the past.
Withdrawn before the sale
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.