Jan van Goyen Leads Sotheby's $5.3m Old Master Day Auction

A work by Jan van Goyen was the headline sale at Sotheby's 'Old Master Paintings Day Auction' on December 4 in London.

• The sale totaled $5.29m (GBP4m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 111 works sold totaling $5.29m.
• Estimates totaled: $3.3m (low) and $4.78m (high), excluding premiums.
• The sell-through rate was 85% of the original 130 lots announced.

The star lot was: Jan van Goyen, Nijmegen, a view with the Valkhof (1646), which sold for $478,800, 626% above its $65,900 low estimate. It has been traded 15 times in the past.

The outperformer sold for 626% above its low estimate. Jan van Goyen, Nijmegen, a view with the Valkhof (1646), sold for $478,800 ($65,900 low estimate). It has been traded 15 times in the past.

• 66 works, or 59%, sold above their high estimate.
• 33 works, or 30%, sold within their low and high estimate.
• 12 works, or 11%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

17 works were bought-in, including: Circle of Hans Leonard Schauffelein, Saints Stephen, Andrew, Paul and Christopher, within an architectural setting (Undated), estimated at $105,500 (low) to $158,200 (high). It has been traded once in the past.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Ursola Maddalena Caccia, Still life of birds, including a marsh tit, chiffchaff, chaffinch, blue tits, goldrest, lapwing and a great tit (Undated) estimated at $52,700 (low) to $79,100 (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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.