3 min read · 27 Sep 2024
Les canots amarrés by Vincent van Gogh sold for $32.22m. Image courtesy of Christie's
A work by Vincent van Gogh, which had a guarantee, was the headline sale at Christie's '20th/21st Century Evening Sale' on September 26 in Hong Kong.
The star lot was: Vincent van Gogh, Les canots amarrés (1887), which sold for $32.22m, 9% above its $29.52m low estimate. The work was backed by a guarantee. It has been traded 9 times in the past.
The outperformer sold for 1940% above its low estimate. Ronald Ventura, STATE OF BLOOM (2021), sold for $4.71m ($231,000 low estimate). It has been traded once in the past.
Breakdown of results against auction house estimates that are disclosed
9 works were backed by guarantees, including: Vincent van Gogh, Les canots amarrés (1887). It sold for $32.22m, 9% above its $29.52m low estimate.. It has been traded 9 times in the past.
3 works were bought-in, including: Chu Teh-chun, Dynamisme bleu I (Blue Dynamism I) (1982), estimated at $1.54m (low) to $2.82m (high). It has been traded once in the past.
3 works were withdrawn before the sale, including: Yayoi Kusama, SELF-PORTRAIT (BOTEFO) (2014) estimated at $2.95m (low) to $5.13m (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.