Zhang Daqian Leads Sotheby's, Online $153,200 'Arcade Sale'

A work by Zhang Daqian was the headline sale at Sotheby's, Online 'Arcade Sale | New York' on September 25.

• The sale totaled $153,200, falling short of its pre-sale low estimate.

Snapshot of the sale

• 45 works sold totaling $153,200.
• Estimates totaled: $194,200 (low) and $282,100 (high), excluding premiums.
• The sell-through rate was 100%, so a white-glove sale.

The star lot was: Zhang Daqian, Calligraphy In Running Script (Undated), which sold for $19,200, 284% above its $5,000 low estimate.

The outperformer sold for 980% above its low estimate. American School, 20th century, Untitled (1928), sold for $1,080 ($100 low estimate).

• 6 works, or 13%, sold above their high estimate.
• 5 works, or 11%, sold within their low and high estimate.
• 34 works, or 76%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

0 works were bought-in.

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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