3 min read · 07 Nov 2024
Les nuages 雲 by Claude Monet sold for $925,700. Image courtesy of Sotheby's
A work by Claude Monet was the headline sale at Sotheby's 'Modern & Contemporary Day Auction | Session 2 - Modern Art' on November 12 in Hong Kong.
The star lot was: Claude Monet, Les nuages 雲 (1868), which sold for $925,700, 139% above its $386,100 low estimate. It has been traded 9 times in the past.
The outperformer sold for 599% above its low estimate. Shi Hu, Zi Yu 子魚 (2019), sold for $270,000 ($38,600 low estimate). It has not been traded before.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
13 works were bought-in, including: Chu Teh-chun, Textures Contrastées 對映 (2006), estimated at $514,800 (low) to $772,100 (high). It has been traded once in the past.
2 works were withdrawn before the sale, including: Zao Wou-ki, 04.03.63 (1963) estimated at $1.03m (low) to $1.54m (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.