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The American art sales in May 2017 were weak despite the headline sales of two major works—a Frederic Remington bronze that sold at the top of the estimate range and a Norman Rockwell painting that doubled the high estimate—which can be seen in the sell-through rate and breakdown of the results.
The hammer total of $65.365m was below the $67.34m aggregate low estimate. That gives the sale an overall hammer ratio of .97.
The premium sales total was $78m which means the buyer of an average lot among the 207 sold paid slightly more than a quarter of a million dollars. That’s significant price level for a category that has more sellers than buyers as evidenced by the 69% sell-through rate.
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