{"id":40147,"date":"2020-07-22T16:16:27","date_gmt":"2020-07-22T20:16:27","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=40147"},"modified":"2024-03-29T07:49:14","modified_gmt":"2024-03-29T11:49:14","slug":"the-new-auction-normal-sothebys-online-evening-pt-1","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2020\/07\/the-new-auction-normal-sothebys-online-evening-pt-1\/","title":{"rendered":"The New Auction Normal – Sotheby’s Online Evening Pt. 1"},"content":{"rendered":"
\"Lee<\/a>

Lee Krasner – Re-Echo<\/p><\/div>\n

Being back at the gallery has really cut into all this free time I\u2019ve gotten used to\u2026 going to play a little catch-up on some sales from a few weeks back. At the end of June, Sotheby\u2019s hosted a trio of evening sales in succession\u2026 online evening sales. These were the big spring sales that were pushed off from May; and by this point they were far slimmer than anticipated. Each individual sale was relatively small, with roughly 20-30 works\u2026 and while I expected it to go relatively quickly, it dragged on until nearly midnight (more than 5 hours for less than 100 lots!)<\/p>\n

\"Joan<\/a>

Joan Mitchell – Straw<\/p><\/div>\n

Things got started with The Ginny Williams Collection \u2013 just 18 works were offered\u2026 that said, all of them sold. The top lot was Lee Krasner\u2019s Re-Echo<\/em> which topped it\u2019s $4-6M estimate as it hammered for $7.7M ($9.03M w\/p); it was seemingly guaranteed at $3.9M from what I gleaned from few choice words by the auctioneer. Just behind was a work by Joan Mitchell, which also surpassed expectations, as it hammered for $7.5M ($8.8M) on a $5-7M estimate. There was a tie for the third highest price at $6.7M\u2026 another work by Mitchell \u2013 Garden Party<\/em> estimated to bring between $4-6M \u2013 and the biggest surprise of the bunch being a work by Helen Frankenthaler which was only expected to sell between $2-3M\u2026 with the premium, those lots work out to $7.9M.<\/p>\n

\"Joan<\/a>

Joan Mitchell – Garden Party<\/p><\/div>\n

In total, 8 lots topped their estimate, 8 sold within their range\u2026 leaving just two works selling below their estimate. That said, they did achieve an impressive 100% sell-through rate\u2026 we won\u2019t mention the fact that all 18 lots were guaranteed prior to the sale\u2026 oh, oops.<\/p>\n

\"Helen<\/a>

Helen Frankenthaler – Royal Fireworks<\/p><\/div>\n

Collectively, the lots were expected to bring between $35.9- 51.7M, so they well outpaced the projection even with a couple of poor performance, as the sale totaled $55M ($65.4M w\/p). Not a bad way to get the evening started.<\/p>\n","protected":false},"excerpt":{"rendered":"

Being back at the gallery has really cut into all this free time I\u2019ve gotten used to\u2026 going to play a little catch-up on some sales from a few weeks back. At the end of June, Sotheby\u2019s hosted a trio … More…<\/a><\/p>\n","protected":false},"author":5,"featured_media":40149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[207,20,429],"class_list":["post-40147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-contemporary","tag-auction-news","tag-auction-results","tag-contemporary-art"],"yoast_head":"\nThe New Auction Normal \u2013 Sotheby\u2019s Online Evening Pt. 1<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2020\/07\/the-new-auction-normal-sothebys-online-evening-pt-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The New Auction Normal - Sotheby's Online Evening Pt. 1\" \/>\n<meta property=\"og:description\" content=\"Being back at the gallery has really cut into all this free time I\u2019ve gotten used to\u2026 going to play a little catch-up on some sales from a few weeks back. 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