Salvo Leads Christie's Online $1.66m '20th/21st Century Milan Online Sale'

A work by Salvo was the headline sale at Christie's Online '20th/21st Century Milan Online Sale' on June 4.

• The sale totaled $1.66m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 53 works sold totaling $1.66m.
• Estimates totaled: $2.94m (low) and $4.3m (high), excluding premiums.
• The sell-through rate was 44% of the original 121 lots announced.

The star lot was: Salvo, Senza titolo (1989), which sold for $137,100, 26% above its $108,600 low estimate. It has not been traded before.

The outperformer sold for 325% above its low estimate. Jenny Saville & Glen Luchford, Closed Contact #7 (1995), sold for $48,000 ($10,900 low estimate). It has been traded twice in the past.

• 29 works, or 55%, sold above their high estimate.
• 14 works, or 26%, sold within their low and high estimate.
• 10 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

25 works were bought-in, including: Lucio Fontana, Concetto spaziale (1967), estimated at $434,500 (low) to $651,700 (high). It has been traded 4 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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.