Tran Luu Hau Leads Bonhams $71,000 'Southeast Asian Modern & Contemporary Art Online' Auction
3 min read · 11 Apr 2024
In the village by Tran Luu Hau sold for $14,700. Image courtesy of Bonhams
A work by Tran Luu Hau was the headline sale at Bonhams 'Southeast Asian Modern & Contemporary Art Online' auction on April 9.
- The sale totaled $71,000, meeting the pre-sale estimate.
Snapshot of the sale
- 25 works sold totaling $71,000.
- Estimates totaled: $52,500 (low) and $88,800 (high), excluding premiums.
- The sell-through rate was 86% of the original 29 lots announced.
The star lot was: Tran Luu Hau, In the village (1990), which sold for $14,700, 700% above its $1,788 low estimate. It has been traded twice in the past.
The outperformer sold for 800% above its low estimate. Luu Cong Nhan, Three drawings with nude (1989), sold for $5,885 ($639 low estimate). It has been traded 3 times in the past.
Breakdown of results against auction house estimates that are disclosed
- 10 works, or 40%, sold above their high estimate.
- 8 works, or 32%, sold within their low and high estimate.
- 7 works, or 28%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
4 works were bought-in, including: But Mochtar, Pyramid, Sphinx, and the Sun (1975), estimated at $9,579 (low) to $12,800 (high). It has not been traded before.
Withdrawn before the sale
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.