Bonhams $2.14m 'Classical and Modern Chinese Paintings' Auction in New York
3 min read · 19 Sep 2024
Celebrating the Sheizhuang Residence, for Yongting by Various Artists sold for $406,900. Image courtesy of Bonhams
A work by Various Artists was the headline sale at Bonhams 'Classical and Modern Chinese Paintings' auction on September 17 in New York.
- The sale totaled $2.14m, falling short of its pre-sale low estimate.
Snapshot of the sale
- 80 works sold totaling $2.14m.
- Estimates totaled: $2.26m (low) and $3.4m (high), excluding premiums.
- The sell-through rate was 75% of the original 107 lots announced.
The star lot was: Various Artists, Celebrating the Sheizhuang Residence, for Yongting (1775), which sold for $406,900, 578% above its $60,000 low estimate. It has been traded twice in the past.
The outperformer sold for 1265% above its low estimate. Hong Yi, Calligraphy Couplet (1932), sold for $41,000 ($3,000 low estimate).
Breakdown of results against auction house estimates that are disclosed
- 33 works, or 41%, sold above their high estimate.
- 32 works, or 40%, sold within their low and high estimate.
- 15 works, or 19%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
27 works were bought-in, including: Zhang Daqian, Lady (1929), estimated at $200,000 (low) to $300,000 (high). It has been traded 6 times in the past.
Withdrawn before the sale
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.