German School Portrait Leads Sotheby's $3m 'Master Paintings Part II' Auction in New York

A work by German School was the headline sale at Sotheby's 'Master Paintings Part II' auction on February 6 in New York.

• The sale totaled $3.18m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 68 works sold totaling $3.18m.
• Estimates totaled: $3.25m (low) and $4.7m (high), excluding premiums.
• The sell-through rate was 69% of the original 98 lots announced.

The star lot was: German School, Portrait of Heinrich von Sachsen-Lauenburg, Prince-Archbishop of Bremen (Undated), which sold for $264,000, 229% above its $80,000 low estimate. It has been traded 11 times in the past.

The outperformer sold for 380% above its low estimate. Peter Paul Rubens, Portrait of a Bearded Man (Undated), sold for $48,000 ($10,000 low estimate). It has been traded 3 times in the past.

• 29 works, or 43%, sold above their high estimate.
• 20 works, or 29%, sold within their low and high estimate.
• 19 works, or 28%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

29 works were bought-in, including: Bernardo Cavallino, Saint Catherine of Alexandria (Undated), estimated at $120,000 (low) to $180,000 (high). It has been traded once in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Georg Flegel, Still Life with a Roast Fowl, Carp's Head, Crayfish, Currants, and a Radish in Pewter Dishes, a Roemer and Earthenware Jug upon a Tabletop (Undated) estimated at $80,000 (low) to $120,000 (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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.