3 min read · 07 Mar 2024
À l'ombre des pins (Agay) or Sous les pins (Agay) by Theo van Rysselberghe sold for $1.76m. Image courtesy of Sotheby's
A work by Theo van Rysselberghe was the headline sale at Sotheby's 'Modern & Contemporary Day Auction' on March 7 in London.
The star lot was: Theo van Rysselberghe, À l'ombre des pins (Agay) or Sous les pins (Agay) (1905), which sold for $1.76m, 175% above its $633,400 low estimate. It has been traded 12 times in the past.
The outperformer sold for 1000% above its low estimate. Hannah Hoch, *Three Forms - I * (1952), sold for $71,200 ($6,334 low estimate). It has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
5 works were backed by guarantees, including: Frank Auerbach, Head of J.Y.M. (1986). It sold for $647,000, 27% above its $508,800 low estimate..
40 works were bought-in, including: Camille Pissarro, Paysage avec meules, Osny (1883), estimated at $633,400 (low) to $886,700 (high). It has been traded 10 times in the past.
4 works were withdrawn before the sale, including: Lucio Fontana, Concetto Spaziale (1964) estimated at $190,000 (low) to $253,400 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.