Auction Results: Contemporary Art Evening and Day Auctions, June 26 and 27, 2013 @Sotheby’s London

Andreas Gursky easily carried the photographic load at Sotheby’s Contemporary Art auctions in London last week. His five stock exchange images in the Evening sale brought in just under £5.5M in aggregate, and with the help of the Struth Pantheon image at roughly £800K, basically made the rest of the results irrelevant. Even with an overall Buy-In rate near 35%, the Total Sale Proceeds still soared over the pre-sale high estimate.

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

Summary Statistics
Total Lots 43
Aggregate Pre Sale Low Estimate £3961000
Aggregate Pre Sale High Estimate £5503000
Total Lots Sold 28
Total Lots Bought In 15
Buy In % 34.88%
Total Sale Proceeds £7171475

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 NA
Mid Total Lots 22
Total Mid Lots Sold 14
Total Mid Lots Bought In 8
Mid Buy In % 36.36%
Aggregate High Estimate of Mid Lots £343000
Total Proceeds from Mid Lots £250625
Total High Lots 21
Total High Lots Sold 14
Total High Lots Bought In 7
High Buy In % 33.33%
Aggregate High Estimate of High Lots £5160000
Total Proceeds from High Lots £6920850

The top lot by High estimate was lot 28, Andreas Gursky, Chicago Board of Trade, 1997, estimated at £700000-900000; it sold for £1538500. The top outcome of the two sales was lot 26, Andreas Gursky, Chicago Board of Trade III, 1999-2009, estimated at £600000-800000, sold at £2154500 (image at right, top, via Sotheby’s).

100.00% of the lots that sold had proceeds in or above their estimate. There were four surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 26, Andreas Gursky, Chicago Board of Trade III, 1999-2009, estimated at £600000-800000, sold at £2154500

Lot 437, Mona Hatoum, Performance Still, 1985-1995, estimated at £6000-8000, sold at £20000 (image at right, middle, via Sotheby’s)

Lot 447, Thomas Struth. Jiangxi Zhong Lu, Shanghai, 1996, estimated at £12000-18000, sold at £40000

Lot 448, Thomas Struth, Nanjing Xi Lu 2, Shanghai, 2002, estimated at £18000-25000, sold at £57500 (image at right, bottom, via Sotheby’s)

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

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Read more about: Andreas Gursky, Mona Hatoum, Thomas Struth, Sotheby's

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