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On Wednesday, Sotheby’s held its old masters sale, which generated $4.4 million with buyer’s premium across 119 lots. Hammering at $3.5 million, it landed 16% below pre-sale low expectation of $4.1 million and realized a sell-through rate of 70 percent.
14 percent of lots achieved a price above the high estimate, 31 percent sold within their estimate ranges and 24 percent failed to reach their low bar. 21 lots failed to find buyers.
The top lot of the sale was Girogio di Giovanni’s 16th century painting Flight of Cloelia, a Roman war story, which sold for $477,800 with buyer’s premium, making two times the low estimate of $200,000. Originally in the collection of Italian cardinal and military official Antonio Barberini, the work came to sale after being held in a private collection since 1996. Dutch painter Jacon Jordaen’s Christ Triumphant among the nine pentinents, also from the 16th century, sold for $441,000, two times the estimate of $200,000.
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