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 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
No sales had a guarantee.
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.
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.