Auction Results: Contemporary Art Evening and Day Auctions, June 26 and 27, 2018 @Sotheby’s London

Led by a Cindy Sherman film still, the photography included in Sotheby’s recent Contemporary Art auctions in London performed well. With the help of the top lot Andreas Gursky triptych which also found a buyer, the Total Sale Proceeds for photography fell near the top end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 20
Pre Sale Low Total Estimate £1883000
Pre Sale High Total Estimate £2866000
Total Lots Sold 14
Total Lots Bought In 6
Buy In % 30.00%
Total Sale Proceeds £2674375

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

Detailed Breakdown
Low Total Lots 1
Low Sold 1
Low Bought In 0
Low Buy In % 0.00%
Total Low Estimate £3000
Total Low Sold £6250
Mid Total Lots 7
Mid Sold 5
Mid Bought In 2
Mid Buy In % 28.57%
Total Mid Estimate £73000
Total Mid Sold £65625
Total High Lots 12
High Sold 8
High Bought In 4
High Buy In % 33.33%
Total High Estimate £2790000
Total High Sold £2602500

The top photography lot by High estimate was lot 37, Andreas Gursky, James Bond Island I, II, & III, 2007, estimated at £600000-800000; it sold at £670000. The top photography outcome of the sales was lot 8, Cindy Sherman, Untitled Film Still #21A, 1978, estimated at £450000-650000, sold at £946000 (image above, via Sotheby’s).

100.00% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Sotheby’s):

Lot 238, Wolfgang Tillmans, Paper Drop (Spring), 2011/2016, estimated at £6000-8000, sold at £21250

Lot 246, Mike Kelley, Why I Got Into Art (Vaseline Muses) No. 23, 1989, estimated at £2000-3000, sold at £6250

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

Read more about: Cindy Sherman, Mike Kelley, Wolfgang Tillmans, Sotheby's

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