Sotheby's auction of the late Thomas Saunders and his wife Jordan's Old Master paintings faced disappointing results, generating just $53.8 million against pre-sale expectations of up to $112.6 million. The auction set a record for the highest value sold in one day for a single-owner Old Masters collection but fell short of the previous record held by the Fisch-Davidson collection. With a sell-through rate of 62% and several lots withdrawn or unsold, this reflects ongoing challenges in the spring auction market despite the collection's acclaimed quality and provenance.
Despite the anticipation and expert endorsement, the late Thomas Saunders' Old Master collection failed to meet auction expectations, achieving a $53.8m sale, significantly below estimates.
The highly anticipated auction for the Saunders painting collection fell short of its valuation, overshadowing the record set earlier this year by the Fisch-Davidson collection.
Sotheby’s noted that while the sale broke records for a single-owner Old Masters auction day, it ultimately did not surpass the overall value set by the Fisch-Davidson collection.
George Wachter, Sotheby’s co-chairman, highlighted the exceptional condition and provenance of the Saunders collection, anticipating higher bids than ultimately received at auction.
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