Sotheby's Contemporary Discoveries featuring The Collection of Bob Monk Auction Totals $6.25m

A work by Ed Ruscha was the headline sale at Sotheby's 'Contemporary Discoveries featuring The Collection of Bob Monk' auction on October 1-8 in New York.

• The sale totaled $6.25m, meeting the pre-sale estimate.

Snapshot of the sale

• 277 works sold totaling $6.25m.
• Estimates totaled: $5.8m (low) and $8.44m (high), excluding premiums.
• The sell-through rate was 83% of the original 334 lots announced.

The star lot was: Ed Ruscha, Red Sky (2001), which sold for $537,600, 115% above its $250,000 low estimate. It has not been traded before.

The outperformer sold for 1308% above its low estimate. Brook Hsu, Untitled (2021), sold for $28,200 ($2,000 low estimate). It has been traded once in the past.

• 93 works, or 34%, sold above their high estimate.
• 86 works, or 31%, sold within their low and high estimate.
• 98 works, or 35%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

4 works were backed by guarantees, including: Mike Bidlo, Ma Jolie (Woman with a Zither or Guitar) (1987). It sold for $32,000, 60% above its $20,000 low estimate.. It has been traded 3 times in the past.

Works that did not sell

49 works were bought-in, including: Manolo Valdes, La Banda Negra (Felipe IV) (1984), estimated at $120,000 (low) to $180,000 (high). It has been traded once in the past.

Withdrawn before the sale

8 works were withdrawn before the sale, including: Hilary Pecis, Sculpture Court (2017), estimated at $100,000 (low) to $150,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.