3 min read · 01 Oct 2024
Two paintings Men and String by Truong Tan sold for $4,944. Image courtesy of Bonhams
A work by Truong Tan was the headline sale at Bonhams 'Southeast Asian Modern and Contemporary Online' auction on September 30.
The star lot was: Truong Tan, Two paintings Men and String (Undated), which sold for $4,944, 285% above its $1,282 low estimate. It has not been traded before.
The outperformer sold for 517% above its low estimate. Luu Cong Nhan, Four drawings of a woman (1998), sold for $3,956 ($641 low estimate). It has been traded 3 times in the past.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
8 works were bought-in, including: Tran Van Tho, Mother and Son (Undated), estimated at $2,308 (low) to $3,590 (high).
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.