On occasion, Christie's has a direct financial interest in lots consigned for sale which may include guaranteeing a minimum price or making an advance to the consignor that is secured solely by consigned property. This is such a lot. This indicates both in cases where Christie's holds the financial interest on its own, and in cases where Christie's has financed all or a part of such interest through a third party. Such third parties generally benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful.
Artist's Resale Right ("Droit de Suite"). Artist's Resale Right Regulations 2006 apply to this lot, the buyer agrees to pay us an amount equal to the resale royalty provided for in those Regulations, and we undertake to the buyer to pay such amount to the artist's collection agent.
On occasion, Christie’s has a direct financial interest in lots consigned for sale, which may include guaranteeing a minimum price or making an advance to the consignor that is secured solely by consigned property. Christie’s may choose to assume this financial risk on its own or may contract with a third party for such third party to assume all or part of this financial risk. When a third party agrees to finance all or part of Christie’s interest in a lot, it takes on all or part of the risk of the lot not being sold, and will be remunerated in exchange for accepting this risk out of Christie’s revenues from the sale, whether or not the third party is a successful bidder. The third party may bid for the lot and may or may not have knowledge of the reserves. Where it does so, and is the successful bidder, the remuneration may be netted against the final purchase price. If the lot is not sold, the third party may incur a loss.
Christie’s guarantee of a minimum price for this lot has been fully financed through third parties
with Lefevre Gallery, London.
with Richard Green, London.
Purchased by the previous owner at the 1984 exhibition.
Their sale, Sotheby's, London, 15 November 2011, lot 19, where purchased by the present owner.
PROPERTY FROM A PRIVATE BRITISH COLLECTION
Exhibition catalogue, A Memorial Exhibition of Paintings & Drawings by L.S. Lowry R.A., London, Lefevre Gallery, 1976, p. 15, no. 15, illustrated.
M. Levy, The Paintings of L.S. Lowry: Oils and Watercolours, London, 1977, pl. 59.
D. Maclean, L.S. Lowry, London, 1978, p. 14, illustrated.
Exhibition catalogue, Modern British Paintings, London, Richard Green, May 1984, no. 38, illustrated.
T.G. Rosenthal, L.S. Lowry: The Art and The Artist, Norwich, 2010, p. 179, illustrated.
London, Lefevre Gallery, Recent Paintings by L.S. Lowry, October 1953, no. 20.
London, Tate Gallery, Arts Council of Great Britain, L.S. Lowry, R.A., Retrospective Exhibition, 1966-67, no. 72: this exhibition travelled to Sunderland, Art Gallery; Manchester, Whitworth Art Gallery; and Bristol, City Art Gallery.
London, Lefevre Gallery, A Memorial Exhibition of Paintings & Drawings by L.S. Lowry R.A., May - July 1976, no. 15.
London, Royal Academy, L.S. Lowry Memorial Exhibition, September - November 1976, no. 201.
London, Richard Green, Modern British Paintings, May 1984, no. 38, illustrated.