Damien Hirst Leads Sotheby's, Online $1.05m 'Contemporary Discoveries' Auction

A work by Damien Hirst was the headline sale at Sotheby's, Online 'Contemporary Discoveries' auction on August 1.

• The sale totaled $1.05m (GBP798,200), falling short of its pre-sale low estimate.

Snapshot of the sale

• 67 works sold totaling $1.05m.
• Estimates totaled: $1.35m (low) and $2.02m (high), excluding premiums.
• The sell-through rate was 70% of the original 96 lots announced.

The star lot was: Damien Hirst, *Tempting Blossom * (2021), which sold for $70,400, 30% above its $53,800 low estimate. It has been traded once in the past.

The outperformer sold for 211% above its low estimate. Terry Rodgers, Underwriting the Future (2011), sold for $50,300 ($16,100 low estimate). It has been traded once in the past.

• 16 works, or 24%, sold above their high estimate.
• 24 works, or 36%, sold within their low and high estimate.
• 27 works, or 40%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

26 works were bought-in, including: Damien Hirst, Aspartic Acid (1995), estimated at $53,800 (low) to $80,700 (high). It has not been traded before.

Withdrawn before the sale

3 works were withdrawn before the sale, including: Damien Hirst, The Pharmacy Cross Drawing; Food Menu (Shut Up and Eat Your Dinner) Drawing; Drinks Menu Drawing; Untitled (Notes for Pharmacy) (1997) estimated at $10,800 (low) to $16,100 (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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.