Auction Results: Post-War and Contemporary Art Evening and Day Auctions, February 11 and 12, 2016 @Christie’s London

Buoyed by the continued strong demand for Gerhard Richter’s recent photographic prints of his painted abstractions, the photography included among Christie’s larger Post-War and Contemporary Art sales last week in London delivered better than expected results. Supported by a low Buy-In rate for photography (just 12.00%), the Total Sale Proceeds for photography came in above the pre-sale estimate range.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 25
Aggregate Pre Sale Low Estimate £913000
Aggregate Pre Sale High Estimate £1273000
Total Lots Sold 22
Total Lots Bought In 3
Buy In % 12.00%
Total Sale Proceeds £1301500

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 0
Total Low Lots Sold NA
Total Low Lots Bought In NA
Low Buy In % NA
Aggregate High Estimate of Low Lots £0
Total Proceeds from Low Lots £0
Mid Total Lots 12
Total Mid Lots Sold 10
Total Mid Lots Bought In 2
Mid Buy In % 16.67%
Aggregate High Estimate of Mid Lots £168000
Total Proceeds from Mid Lots £306250
Total High Lots 13
Total High Lots Sold 12
Total High Lots Bought In 1
High Buy In % 7.69%
Aggregate High Estimate of High Lots £1105000
Total Proceeds from High Lots £995250

The top photography lot by High estimate was lot 44, Gilbert & George, Frozen Youth, 1982, estimated at £220000-280000; it was also the top photography outcome of the two sales at £266500 (image in preview post).

100.00% of the lots that sold had proceeds in or above the estimate range and there were a total of 6 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above via Christie’s):

Lot 114, Gordon Matta-Clark, Splitting: Number 26 + 27, 1975, estimated at £18000-22000, sold at £56250 (image in preview post)

Lot 211, Gerhard Richter, Cape Grid Trial Proof 2, 2009, estimated at £10000-15000, sold at £47500

Lot 212, Gerhard Richter, Abstraktes Bild (P1), 2014, estimated at £6000-8000, sold at £32500

Lot 215, Sigmar Polke, Untitled, 1982, estimated at £12000-18000, sold at £47500

Lot 309, Gerhard Richter, Haggadah (P2), 2014, estimated at £4000-6000, sold at £30000

Lot 310, Gerhard Richter, Bouquet (P3), 2014, estimated at £4000-6000, sold at £18750

The complete lot by lot results can be found here (Evening) and here (Day).

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Read more about: Gerhard Richter, Gilbert and George, Gordon Matta-Clark, Sigmar Polke, Christie's

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