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Auction Analysis – Bonhams: Founded 1793

  • Collectors Tip
February 1, 2015

Held on January 28th 2015 and named by the year Bonhams was established, Founded 1793 was an auction which is probably going to be remembered by a big number of Banksy pieces which were sold – what is more – Banksy pieces belonging to one single owner. Apart from this, there has been a number of interesting pieces which found new owners. As always, Collectors Tip team brings you the most interesting details concerning Urban and Contemporary Art.

Collectors Tip
Banksy – Trolleys (Colour), 2007 (lot 107)

Bonhams Founded 1793: Successful Auction with a Twist

With a hammerprice sum of $1,444,299, making the difference between this value and the total of high estimates of sold lots being almost 2%, it can be said that Bonhams: Founded 1793 was a successful auction. This is only confirmed when we see that 84% of the lots were sold, i.e. 102 pieces, out of 121 found new owners. Fifty lots (41%) were sold for a value higher then the high estimate, which is almost half of the sold lots. There have been 20 lots sold for a price that was in the range of estimated prices, making this nearly 20% of sold pieces. Which takes us to an interesting twist in events (if we do not count the overwhelming presence of Banksy artwork) – 32 pieces (31% out of sold lots) were sold for a price lower than the estimated low price. Perhaps surprisingly, among these were two pieces by renowned artists. Damien Hirst’s Spin Ukulele for the Idler (2013) was sold for a hammerprice of $9,030, despite it had been expected to reach a price of at least $16,000. The second piece which was sold for a price 30% lower than the low estimate was Table d’Or by Yves Klein. The piece was sold for $16,735 (expected to reach a price somewhere between $24,000 and $31,000). But, what is the story with Banksy and Lazarides?

Collectors Tip
Banksy – Gold Flag, 2007 (lot 106)

Lazarides Sells Banksy Pieces From Last Decade

There is no doubt about it – Steve Lazarides is one of the most influential figures in the world of Urban Art. If there is a reason to choose why this is so, one must go back to the beginnings of the entire culture of Street Art – more specifically those years which were crucial for the transition of the subculture from streets to gallery spaces. Steve Lazarides was a man who had taken upon himself the role of a conductor of this transition. It is through this light that one should see the importance of screen prints. In the situation of Street Art transforming into something ever so slightly less attainable for a wider public, a print stood (and still stands), as Lazarides would put it – “a gateway for many people to access the world of art collecting.” With this in mind, Steve Lazarides put up for bidding, as part of this auction, a number of Banksy pieces from the first decade of the 21st century – a part of his collection. Out of 31 piece by Street Art’s Robin Hood, all belonged to Lazarides and only the 2007 piece Watchtower went unsold. Pieces such as Festival (2006), Rude Copper (2002) and Sale Ends (2006) were sold for $24,082, $39,133 and $22,576, i.e. with a hammerprice / high estimate difference of 156%, 106% and 105%, respectively.

Steve Lazarides
Steve Lazarides

More Highlights: Urban Art Pieces

When we look at some other pieces by renowned Urban Artists, the first thing which catches the eye is, apart from already mentioned piece by Hirst, the unsold piece by Ai Weiwei as well as Shepard Fairey’s Rise Above Stamp, which achieved a hammerprice / low estimate difference of 20%. Another piece which found a new owner for a price under the low estimate, was Christian Rosa’s Warum Nicht (2011), sold for $15,051. Finally, looking at some more successful lots, a piece by José Parlá, Micro & Meen, found a new owner for a price within the range of expected value – $16,556. We finish our highlights overview with the piece by one the art world’s biggest rising stars in the period behind us – Conor Harrington. His Dance With the Devil (2013) went for a hammerprice of $94,070 (was expected to reach a price as high as $78,000).

Be sure to check out the detailed auction figures on the next page. In the meantime, sign up for My Widewalls and never miss out on auction analysis and other interesting Collectors Tip features!

Next Page: Bonhams: Founded 1793 – Detailed Auction Figures

Collectors Tip
Banksy – Laugh Now, 2004 (lot 78)
Collectors Tip
Banksy – Christ With Shopping Bags, 2004 (lot 79)
Collectors Tip
Shepard Fairey – Duality of Humanity, 2008

Featured image: Banksy – Sale Ends, 2006 All images courtesy of bonhams.com (apart from photo of Steve Lazarides, which is for illustrative purposes only) [mc4wp_form]

  • Collectors Tip

Bonhams: Founded 1793 - Detailed Auction Figures

Total number of lots:121
Number of sold lots:102
Sold lots [%]:84.3
Number of sold lots over high estimate:50
Over high estimate (Total) [%]:41.3
Over high estimate (Sold) [%]:49
Number of sold lots in range of estimated values:20
In range of estimated values (Sold) [%]:19.6
Number of sold lots under low estimate:32
Under low estimate (Sold) [%]:31.4
Lot No.Artist NameArtwork NameYearLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
1Conor HarringtonDance With the Devil201347000780009407020.6100.1
2Michelangelo PistolettoFrattali200047007800Not SoldNot SoldNot Sold
3David ShrigleyA Candle in the Shape of a Candle2001470078003762-51.8-20
4Ryan McGinleySean (Inside Heart)20091100016000Not SoldNot SoldNot Sold
5Grayson PerryRecipe for Humanity31004700526712.169.9
6Damien HirstAll Spun Out2005470078001429883.3204.2
7Jake & Dinos ChapmanDisasters of War #9199978001100010535-4.235.1
8Nancy FoutsButterfly Boat201139005500Not SoldNot SoldNot Sold
9Nancy FoutsIf You Hear the Word 'Art' Reach For the Gun20123900550060209.554.4
10Not VitalTen Egyptian Noses19893900550013546146.3247.3
11Ai WeiweiArt Edition2014940013000Not SoldNot SoldNot Sold
12Anya GallaccioSilver Seed2005630094007224-23.114.7
13Shirana Shahbazi[Farsh-03-2004]2004630094006020-36-4.4
14Cecily BrownUntitled 84 Drawings (Four Letter Heaven)1995470007800022576-71.1-52
15Jelena BulajicAudrey201463009400Not SoldNot SoldNot Sold
16Lucas PriceWet Painting 12014470078001204154.4156.2
17Miaz BrothersMaster #62013940013000135464.244.1
18Lynette Yiadom-BoakyeDairy Natural20032400031000Not SoldNot SoldNot Sold
19Christian RosaWarum Nicht2011160002400015051-37.3-5.9
20José ParláMicro & Meen2008160002400016556-313.5
21Shepard FaireyRise Above Stamp2006470078003762-51.8-20
22Charming BakerForms that Don't Lend Themselves to Intimacy200816000240004364881.9172.8
23Shepard Fairey and Jamie ReidShoplifters Welcome20127800110007826-28.90.3
24Shepard FaireyDuality of Humanity2008190002800015803-43.6-16.8
25BanksyPrecision Bombing20003100047000481642.555.4
26Damien HirstSpin Ukulele for the Idler201316000240009030-62.4-43.6
27Bernard AubertinTableau Clous1969140001900013546-28.7-3.2
28Martha BotoDéplacements Helicoïdaux19677800110001505136.893
29Martha BotoVibrations1967470078001279364172.2
30Gregorio VardanegaEspaces Chromatiques19902400031000Not SoldNot SoldNot Sold
31Allen Jones RAMaquette for a Chair19833100470027092476.4773.9
32Terence KohThe Voyage of Lady Midnight Snowdrops Through Double Death Star (the Comet I Destroyed Again and Again, II)20051600024000Not SoldNot SoldNot Sold
33Shi JinsongRe-Education Through Inquisition2007160002400022576-5.941.1
34Wang QingsongNuts and Balls and All Things Nice200724000310009030-70.9-62.4
35Jaume PlensaCloudy Box XI1994240003100022576-27.2-5.9
36Yves KleinTable d'Or1963240003100016735-46-30.3
37Vladimir KaganContour19759400130009030-30.5-3.9
38Gaetano Scolari for StilnovoA5011195031004700Not SoldNot SoldNot Sold
39Pair of French Stoolscirca194031004700602028.194.2
40Ingo Maurer and Peter HamburgerLight Structure1985310047002257-52-27.2
41Hans Wegner for Johannes HansenAP-47 Ox1960630094006020-36-4.4
42Shiro Kuramata for VitraHow High the Moon1986630094006020-36-4.4
43Jørgen Kastholm for Kusch & CoLargo19817800110006773-38.4-13.2
44Angelo Lelli for ArredoluceCeiling Light 1954470078006321-1934.5
45Philip Arctander for Nordisk Staal & Møbel CentralClam1944160002400015051-37.3-5.9
46Poul Kjaerholm for E. Kold ChristensenPK24 Hammock Chair1974110001600011288-29.52.6
47Gösta Berg and Stenerik Eriksson for Fritz HansenSeagull1968470078004214-46-10.3
48Gösta Berg and Stenerik Eriksson for Fritz HansenSeagull196847007800Not SoldNot SoldNot Sold
49Rene MatthieuPair of Adjustable Wall Lamps1955310047004214-10.335.9
50Michel Cadestin and Georges Laurent for TedaBeaubourg19774700780082786.176.1
51Charlotte Perriand for Galerie Steph Simon Cansado19587800110009783-11.125.4
52Charlotte Perriand for Galerie Steph SimonCansado19587800110006773-38.4-13.2
53Jørgen Pedersen for E. Pederson & SønDesk19607800110007224-34.3-7.4
54Gio Ponti for Fontana ArteFloor Lamp for the Hotel Parco dei Principi1960470078004515-42.1-3.9
55Poul Henningsen for Louis PoulsenPH 4/41926390055004214-23.48.1
56Verner Panton for A. SommerS-chair196531004700571921.784.5
57Kam TinThree Cloud Tables 2013Cloud20131900028000301027.558.4
58Guillaume Piéchaud for Édition Galerie LoftPoulpe20127800110001279316.364
59Angelo Mangiarotti for SkipperIncas198447007800903015.892.1
60Marc Newson for CappelliniFelt Limited Edition Chairs2005630094006321-32.80.3
61Marc Newson for MagisCoast19927800110009030-17.915.8
62Fernando and Humberto Campana for Estudio CampanaSushi III Chair200578001100010535-4.235.1
63Zaha Hadid for Sawaya & MoroniMoraine2000160002400012041-49.8-24.7
64Edouard-Wilfred BuquetFloor Lamp192731004700526712.169.9
65Garouste and Bonetti for En Attendant Les BarbaresGuéridon Fourches1988310047003010-36-2.9
66Ado ChaleEmpreinte d'Agathe19753500047000Not SoldNot SoldNot Sold
67Archizoom Associati for PoltronovaMies1969240031002257-27.2-6
68Guillaume Piéchaud for Édition Galerie LoftAnémone Coffee Table201311000160009783-38.9-11.1
69Guillaume Piéchaud for Édition Galerie LoftGoutte d'Eau20139400130008278-36.3-11.9
70Elizabeth GarousteCabinet20022400031000Not SoldNot SoldNot Sold
71Michael Graves for Sawaya & MoroniMG4198455007100Not SoldNot SoldNot Sold
72Michael Graves for Sawaya & MoroniMG3198424003100Not SoldNot SoldNot Sold
73Danny Lane for Danny Lane StudiosEtruscan1988310047003010-36-2.9
74Danny Lane for Danny Lane StudiosDining Table1983310047002709-42.4-12.6
75Mark Brazier-JonesWinged Console1988470078006020-22.828.1
76BanksyRude Copper2002130001900039133106201
77A Decade Of Ephemera470078007224-7.453.7
78BanksyLaugh Now20049400130002408285.2156.2
79BanksyChrist With Shopping Bags200413000190002709242.6108.4
80BanksySeparation Wall - Horse Box630094007826-16.724.2
81BanksySeparation Wall - Beach2006630094001655676.1162.8
82BanksySeparation Wall - Alpine view2006630094001655676.1162.8
83BanksyTrolleys (Bethlehem Edition)20079400130001655627.476.1
84BanksyWatchtower20071900028000Not SoldNot SoldNot Sold
85Banksy and Kelsey BrookesWatchtower Collaboration190002800018061-35.5-4.9
86BanksyFestival20066300940024082156.2282.3
87BanksyTrolleys2006630094001354644.1115
88BanksyApplause2006630094001279336.1103.1
89BanksySale Ends200678001100022576105.2189.4
90BanksyWrong War200478001100010535-4.235.1
91BanksyFlower Thrower200313000190002483430.791
92Banksy4 Soup Cans - Gold on Grey2006630094001279336.1103.1
93Banksy4 Soup Cans - Red and Blue on Grey2006630094001279336.1103.1
94Banksy4 Soup Cans - Blue and Red on Cream2006630094001354644.1115
95BanksyCND Soldiers20057800110002107191.6170.1
96BanksyBomb Love2003630094001655676.1162.8
97BanksySilver Flag200616003100421435.9163.4
98BanksyJack and Jill20067800110001655650.5112.3
99BanksyWeston-Super-Mare2004630094001279336.1103.1
100BanksyBomb Middle England20039400130002332979.5148.2
101BanksyHave A Nice day2004630094001655676.1162.8
102BanksyWeston-Super-Mare (Lime Green)200311000160001881417.671
103BanksyMorons (White)20076300940019566108.1210.6
104BanksySoup Can - Banana / Cherry / Blue2005630094001279336.1103.1
105Banksy4 Soup Cans - Gold on Cream2006470078001279364172.2
106BanksyGold Flag2007630094001279336.1103.1
107BanksyTrolleys (Colour)2007470078001475089.1213.8
108Ryan GanderMore Than The Weight Of Its Shadow470078005719-26.721.7
109Yinka ShonibareBad Gold20147800110006773-38.4-13.2
110Peter DoigLion in the Sand M-16201478001100052679378.9575.4
111Polly MorganMixed Message240031002408-22.30.3
112Sam Taylor-JohnsonNo Comment2014780011000Not SoldNot SoldNot Sold
113Marc QuinnThe Eye of History (Peace One Day)2014310004700045153-3.945.7
114Jeremy Deller and Stuart HughesUntitled2014310047004063-13.631.1
115Harland MillerRELAX20142400031000Not SoldNot SoldNot Sold
116Mat CollishawOut of Action240031001956-36.9-18.5
117Jonathan MeeseSAINT JUST - DE - DR. - MEESE - PARSIFAL - HOT - HUMPTY - ZARDOZ - EGG - DUMPTY - BEN - IF - LOLITA - GUN DE LARGE IN ERZLAND (GUN DE NONNINEI)20141900028000Not SoldNot SoldNot Sold
118Douglas GordonBBW3900055000Not SoldNot SoldNot Sold
119Kim JonesEmbroidered Gun2014160024005719138.3257.4
120Kate MossUntitled (Love)201416002400451588.1182.2
121Jake & Dinos ChapmanM162014390005500030102-45.3-22.8
TOTAL:124030018098001444299-20.216.4
TOTAL (Sold lots):957500141840014442991.850.8

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Featured image: Conor Harrington – Dance With the Devil, 2013 (detail) [mc4wp_form]