Sotheby's Modern Discoveries Auction Totals $1.77m

A work by Pierre Eugene Montezin was the headline sale at Sotheby's 'Modern Discoveries' auction on October 22-29 in London.

• The sale totaled $1.77m (GBP1.33m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 59 works sold totaling $1.77m.
• Estimates totaled: $1.06m (low) and $1.53m (high), excluding premiums.
• The sell-through rate was 89% of the original 66 lots announced.

The star lot was: Pierre Eugene Montezin, Paysage D’été Jeunes Pêchers (Undated), which sold for $255,300, 1170% above its $20,100 low estimate. It has been traded twice in the past.

The outperformer sold for 1170% above its low estimate. Pierre Eugene Montezin, Paysage D’été Jeunes Pêchers (Undated), sold for $255,300 ($20,100 low estimate). It has been traded twice in the past.

• 30 works, or 56%, sold above their high estimate.
• 16 works, or 30%, sold within their low and high estimate.
• 8 works, or 15%, sold below their low estimate.
• 5 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

7 works were bought-in, including: Edgar Degas, Femme s’essuyant après le bain (1895), estimated at $107,100 (low) to $160,600 (high). It has been traded 5 times in the past.

Withdrawn before the sale

0 works were withdrawn

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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.