Sayed Haider Raza Leads Sotheby's $15.29m 'Modern & Contemporary South Asian Art' Auction in London
3 min read · 27 Sep 2024
Terra Amata by Sayed Haider Raza sold for $3.38m. Image courtesy of Sotheby's
A work by Sayed Haider Raza was the headline sale at Sotheby's 'Modern & Contemporary South Asian Art' auction on September 26 in London.
- The sale totaled $15.29m (GBP11.41m), meeting the pre-sale estimate.
Snapshot of the sale
- 64 works sold totaling $15.29m.
- Estimates totaled: $8.88m (low) and $19.24m (high), excluding premiums.
- The sell-through rate was 90% of the original 71 lots announced.
The star lot was: Sayed Haider Raza, Terra Amata (1984), which sold for $3.38m, 28% above its $2.63m low estimate. It has been traded once in the past.
The outperformer sold for 5162% above its low estimate. Zainul Abedin, Untitled (1970), sold for $691,200 ($13,100 low estimate). It has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
- 43 works, or 67%, sold above their high estimate.
- 20 works, or 31%, sold within their low and high estimate.
- 1 works, or 2%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
7 works were bought-in, including: Bhupen Khakhar, Dentist (1999), estimated at $1.31m (low) to $5.25m (high). It has not been traded before.
Withdrawn before the sale
0 works were withdrawn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. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.