Auction Results: British Art: The Jubilee Auction, Modern and Contemporary Evening and Day Auctions, June 29 and 30, 2022 @Sotheby’s London

The top photography lot Andreas Gursky print failed to sell at the string of contemporary art sales at Sotheby’s in London last week, dampening what was otherwise a solid outing. All of the rest of the photographs on offer found buyers, including a Richard Prince cowboy print with flirted with the £1M mark. With just one positive surprise, the tallied numbers across the sales found the Total Sale Proceeds for photography (of roughly £1.7M) coming in below the low end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 9
Aggregate Pre Sale Low Estimate £2010000
Aggregate Pre Sale High Estimate £2840000
Total Lots Sold 8
Total Lots Bought In 1
Buy In % 11.11%
Total Sale Proceeds £1690460

Here is the breakdown (using our usual Low, Mid, and High price tier definitions):

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 0
Total Mid Lots Sold NA
Total Mid Lots Bought In NA
Mid Buy In % NA
Aggregate High Estimate of Mid Lots £0
Total Proceeds from Mid Lots £0
Total High Lots 9
Total High Lots Sold 8
Total High Lots Bought In 1
High Buy In % 11.11%
Aggregate High Estimate of High Lots £2840000
Total Proceeds from High Lots £1690460

The top photography lot by High estimate was lot 132, Andreas Gursky, Chicago, Board of Trade III, 1999-2009, estimated at £800000-1200000; it did not sell. The top photography outcome of the sales was lot 140, Richard Prince, Untitled (Cowboy), 1998, estimated at £700000-900000, sold at £942500 (image above, via Sotheby’s).

62.50% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate) (image above, via Sotheby’s):

Lot 363, Gerhard Richter, Strip (3168), 2011, estimated at £40000-60000, sold at £151200

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

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Read more about: Gerhard Richter, Richard Prince, Sotheby's

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