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

3 min read  ·  27 Sep 2024

Calligraphy In Running Script by Zhang Daqian sold for $19,200.
Image courtesy of Sotheby's, Online

Calligraphy In Running Script by Zhang Daqian sold for $19,200. Image courtesy of Sotheby's, Online

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).

Breakdown of results against auction house estimates that are disclosed

Breakdown of results against auction house estimates that are disclosed

  • 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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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