3 min read · 07 Apr 2024
Guitar Girl on the Ice by Yoshitomo Nara sold for $2.38m. Image courtesy of Sotheby's
A work by Yoshitomo Nara was the headline sale at Sotheby's 'Contemporary Day Auction' on April 6 in Hong Kong.
The star lot was: Yoshitomo Nara, *Guitar Girl on the Ice * (1994), which sold for $2.38m, 23% above its $1.92m low estimate. It has been traded once in the past.
The outperformer sold for 1200% above its low estimate. Andy Warhol, *Hong Kong (Two Works) * (1982), sold for $35,700 ($2,556 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.
13 works were bought-in, including: Elizabeth Peyton, Peconic (Ben) (2002), estimated at $357,900 (low) to $447,400 (high). It has been traded 3 times in the past.
3 works were withdrawn before the sale, including: Yayoi Kusama, Six Guests (1986) estimated at $766,900 (low) to $1.02m (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.