Auction Results: Contemporary Art Evening and Day Auctions, March 5 and 6, 2019 @Sotheby’s London

The higher priced photography lots included in Sotheby’s recent Contemporary Art auctions in London helped deliver a solid outcome. Led by a Cindy Sherman Untitled Film Still and supported by a Buy-In rate for the top photography lots of just over 10%, the Total Sale Proceeds easily found the middle of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 17
Aggregate Pre Sale Low Estimate £1127000
Aggregate Pre Sale High Estimate £1676000
Total Lots Sold 13
Total Lots Bought In 4
Buy In % 23.53%
Total Sale Proceeds £1420000

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

Detailed Breakdown
Low Total Lots 1
Total Low Lots Sold 1
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots £4000
Total Proceeds from Low Lots £3750
Mid Total Lots 7
Total Mid Lots Sold 4
Total Mid Lots Bought In 3
Mid Buy In % 42.86%
Aggregate High Estimate of Mid Lots £102000
Total Proceeds from Mid Lots £61250
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 £1570000
Total Proceeds from High Lots £1355000

The top photography lot by High estimate was lot 40, Cindy Sherman, Untitled Film Still #21, 1978, estimated at £300000-500000. It was also the top photography outcome of the sales at £615000 (image above, via Sotheby’s).

69.23% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sales (defined as having proceeds of at least double the high estimate).

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

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