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
Pre Sale Low Total Estimate £1127000
Pre Sale High Total 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
Low Sold 1
Low Bought In 0
Low Buy In % 0.00%
Total Low Estimate £4000
Total Low Sold £3750
Mid Total Lots 7
Mid Sold 4
Mid Bought In 3
Mid Buy In % 42.86%
Total Mid Estimate £102000
Total Mid Sold £61250
Total High Lots 9
High Sold 8
High Bought In 1
High Buy In % 11.11%
Total High Estimate £1570000
Total High Sold £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).

Cindy Sherman, Sotheby's

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