Sougwen Chung Leads Sotheby's, Online $95,600 'Lumen Prize Anniversary Auction 2024 | An Auction Curated by Auronda Scalera & Alfredo Cramerotti x Lumen Prize'

A work by Sougwen Chung was the headline sale at Sotheby's, Online 'Lumen Prize Anniversary Auction 2024 | An Auction Curated by Auronda Scalera & Alfredo Cramerotti x Lumen Prize' on October 16.

• The sale totaled $95,600, falling short of its pre-sale low estimate.

Snapshot of the sale

• 15 works sold totaling $95,600.
• Estimates totaled: $112,000 (low) and $162,000 (high), excluding premiums.
• The sell-through rate was 100%, so a white-glove sale.

The star lot was: Sougwen Chung, Artefact 26 (Undated), which sold for $54,000, 35% above its $40,000 low estimate. It has not been traded before.

The outperformer sold for 164% above its low estimate. Béatrice Lartigue, The Big Smoke (2023), sold for $13,200 ($5,000 low estimate). It has not been traded before.

• 1 works, or 7%, sold above their high estimate.
• 3 works, or 20%, sold within their low and high estimate.
• 11 works, or 73%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

0 works were bought-in.

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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