Damien Hirst Leads Sotheby's $1m 'Contemporary Discoveries' Online Auction
3 min read · 24 Jan 2025
4-Methylpyrimidine by Damien Hirst sold for $104,100. Image courtesy of Sotheby's, Online
A work by Damien Hirst was the headline sale at Sotheby's Contemporary Discoveries online auction on January 24.
- The sale totaled $1.12m (£903,800), falling short of its pre-sale low estimate.
Snapshot of the sale
- 64 works sold totaling $1.12m.
- Estimates totaled: $1.18m (low) and $1.69m (high), excluding premiums.
- The sell-through rate was 71% of the original 90 lots announced.
The star lot was: Damien Hirst, 4-Methylpyrimidine (2003), which sold for $104,100, 41% above its $73,400 low estimate. It has not been traded before.
The outperformer sold for 446% above its low estimate. Ian Brown, Teatrino of Self Recognition (Aspects of Posing) (2021), sold for $66,900 ($12,200 low estimate). It has not been traded before.
Breakdown of results against auction house estimates that are disclosed
- 18 works, or 30%, sold above their high estimate.
- 23 works, or 38%, sold within their low and high estimate.
- 19 works, or 32%, sold below their low estimate.
- 4 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
24 works were bought-in, including: Invader, MLGA-03 (2017), estimated at $73,400 (low) to $97,900 (high).
Withdrawn before the sale
2 works were withdrawn before the sale, including: Cheri Samba, L'arbre (1987) estimated at $12,200 (low) to $18,300 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.