Shepard Fairey Leads Artcurial $1.49m 'Urban Project' Auction in Paris

A work by Shepard Fairey was the headline sale at Artcurial 'Urban Project' auction on April 17 in Paris.

• The sale totaled $1.49m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 147 works sold totaling $1.49m.
• Estimates totaled: $2.12m (low) and $3.14m (high), excluding premiums.
• The sell-through rate was 58% of the original 252 lots announced.

The star lot was: Shepard Fairey, *Middle East Mural * (2009), which sold for $131,200, 21% above its $107,700 low estimate. It has been traded once in the past.

The outperformer sold for 1100% above its low estimate. Dran, *Untitled * (Undated), sold for $3,908 ($323 low estimate).

• 54 works, or 37%, sold above their high estimate.
• 87 works, or 59%, sold within their low and high estimate.
• 6 works, or 4%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

104 works were bought-in, including: Invader, Rubik Killers (2009), estimated at $161,600 (low) to $269,300 (high). It has been traded once in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Invader, Invasion Kit #10 (Paris) - Signed (2009) estimated at $6,462 (low) to $8,616 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.