Pi-eX PRE-AUCTION Analysis

CHRISTIE'S OLD MASTERS SALE

LONDON, November 8th, 2015
General Analysis
Number of lots to be auctioned46
Total estimated valuation (*) 19.035m GBP
Number of artists represented 45
Low Estimate (LE) Analysis
The auction's star lot is German artist Hans Hoffmann's "A Hare Among Plants" which is estimated between 4 and 6 million GBP.

There are three other lots over 1 million GBP. This includes Hans Memling's "The Virgin Mary Nursing the Christ Child", estimated between 2.5 and 3.5 million GBP, Pieter Brueghel II's "The Birdtrap", estimated between 1 and 1.5 million GBP and Francesco Guardi's "The Island of San Giorgio Maggiore, Venice, with the Punta Della Giudecca" estimated between 1.5 and 2.5 million GBP, which noticibly is the final lot of the evening.

Christie's has ownership interest in two of the works, Hans Memling's "The Virgin Mary Nursing the Christ Child" and Francesco Zuccarelli's "A Wooded Landscape with Washerwomen by a River, a Pedlar on a Path Nearby, a Town and Hills Beyond".

The level of guarantees offered is rather modest compared to that of contemporary and impressionist art. There are three guarantees, totalling 500,000 GBP. There are no third party financing on the guarantees.
Types of Lots Analysis
(*) based on the average between Low Estimates and High Estimates
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