Led by the solid performance of its top end lots (Prince, Struth, and Gilbert & George), the photography in Sotheby’s recent Contemporary Art sales in London delivered results that brushed near the top end of the pre sale estimate range. The overall Buy-In rate for photography hovered near 25% and there were no photo lots that sold below their estimates.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 31 |
| Aggregate Pre Sale Low Estimate | £1349000 |
| Aggregate Pre Sale High Estimate | £1865000 |
| Total Lots Sold | 23 |
| Total Lots Bought In | 8 |
| Buy In % | 25.81% |
| Total Sale Proceeds | £1780350 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 1 |
| Total Low Lots Sold | 0 |
| Total Low Lots Bought In | 1 |
| Low Buy In % | 100.00% |
| Aggregate High Estimate of Low Lots | £4000 |
| Total Proceeds from Low Lots | £0 |
| Mid Total Lots | 16 |
| Total Mid Lots Sold | 11 |
| Total Mid Lots Bought In | 5 |
| Mid Buy In % | 31.25% |
| Aggregate High Estimate of Mid Lots | £236000 |
| Total Proceeds from Mid Lots | £197250 |
| Total High Lots | 14 |
| Total High Lots Sold | 12 |
| Total High Lots Bought In | 2 |
| High Buy In % | 14.29% |
| Aggregate High Estimate of High Lots | £1625000 |
| Total Proceeds from High Lots | £1583100 |
The top lot by High estimate was lot 32, Richard Prince, Untitled (Cowboys 4), 1987, estimated at £350000-450000; it sold for £422500. The top outcome of the two sales was lot 18, Thomas Struth, Alte Pinakothek (Self-Portrait), 2000, estimated at £300000-400000, sold at £482500.
100.00% of the lots that sold had proceeds in or above the estimate range, and there were a total of two surprises in the sales (defined as having proceeds of at least double the high estimate):
Lot 384, Richard Prince, Untitled (from Cowboys & Girlfriends), 1992, estimated at £20000-30000, sold at £60000 (image above right, via Sotheby’s)
Lot 402, Philip-Lorca diCorcia, W, September 1999, #13, 1999, estimated at £15000-20000, sold at £42500 (image above left, via Sotheby’s)
Complete lot by lot results can be found here (Evening) and here (Day).
