Zhang Daqian Leads Sotheby's, Online $1.13m 'Inkspiration: Chinese Paintings Online' Auction

A work by Zhang Daqian was the headline sale at Sotheby's, Online 'Inkspiration: Chinese Paintings Online' auction on May 10.

• The sale totaled $1.13m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 119 works sold totaling $1.13m.
• Estimates totaled: $459,200 (low) and $887,900 (high), excluding premiums.
• The sell-through rate was 89% of the original 134 lots announced.

The star lot was: Zhang Daqian, Boating in Spring River (1965), which sold for $154,400, 300% above its $38,400 low estimate.

The outperformer sold for 27800% above its low estimate. Tung Chiao, A Sentimental Journey (Undated), sold for $3,576 ($13 low estimate).

• 85 works, or 71%, sold above their high estimate.
• 34 works, or 29%, sold within their low and high estimate.
• 0 works, or 0%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

15 works were bought-in, including: Anonymous, Guanyin (Undated), estimated at $10,200 (low) to $20,500 (high).

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.