Antonio Lopez Garcia Leads Sotheby's, Online $7.7m 'Art Moderne et Contemporain Day Auction'

A work by Antonio Lopez Garcia was the headline sale at Sotheby's, Online 'Art Moderne et Contemporain Day Auction' on April 11.

• The sale totaled $7.7m (EUR6.82m), meeting the pre-sale estimate.

Snapshot of the sale

• 147 works sold totaling $7.7m.
• Estimates totaled: $5.69m (low) and $8.2m (high), excluding premiums.
• The sell-through rate was 82% of the original 180 lots announced.

The star lot was: Antonio Lopez Garcia, Bodegón cerca del pueblo (1959), which sold for $501,600, 481% above its $86,300 low estimate. It has been traded once in the past.

The outperformer sold for 830% above its low estimate. Zao Wou-ki, Signes en mouvement (1957), sold for $10,000 ($1,079 low estimate). It has been traded once in the past.

• 83 works, or 56%, sold above their high estimate.
• 46 works, or 31%, sold within their low and high estimate.
• 18 works, or 12%, 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: Alighiero e Boetti, Piccolo medio grande (1981), estimated at $194,100 (low) to $269,700 (high). It has been traded twice in the past.

Withdrawn before the sale

4 works were withdrawn before the sale, including: Jean Atlan, Sans Titre (1956) estimated at $53,900 (low) to $75,500 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.