Auction Results: Contemporary Art Evening and Day Auctions, May 11 and 12, 2016 @Sotheby’s

The photographic results at Sotheby’s recent Contemporary Art Evening and Day Auctions were entirely uneventful. With an overall Buy-In rate pushing 35% and no positive surprises, the photography mumbled along to finish with Total Sale Proceeds below the aggregate pre-sale range.

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

Summary Statistics
Total Lots 23
Aggregate Pre Sale Low Estimate $2679000
Aggregate Pre Sale High Estimate $3787000
Total Lots Sold 15
Total Lots Bought In 8
Buy In % 34.78%
Total Sale Proceeds $2315125

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 2
Total Low Lots Sold 2
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots $15000
Total Proceeds from Low Lots $16625
Mid Total Lots 9
Total Mid Lots Sold 6
Total Mid Lots Bought In 3
Mid Buy In % 33.33%
Aggregate High Estimate of Mid Lots $252000
Total Proceeds from Mid Lots $152500
Total High Lots 12
Total High Lots Sold 7
Total High Lots Bought In 5
High Buy In % 41.67%
Aggregate High Estimate of High Lots $3520000
Total Proceeds from High Lots $2146000

The top lot by High estimate was lot 39, Piotr Uklanski, The Nazis, 1998, estimated at $500000-700000 (image in preview post). It was also the top photographic outcome of the sales at $550000.

100.00% of the lots that sold had proceeds in or above the estimate range but there were no positive surprises in the sales (defined as having proceeds of at least double the high estimate). The closest thing to a positive surprise was lot 532, Sam Falls, Untitled (Wind Chimes 6), 2013, estimated at $5000-7000, sold at $10625 (image above via Sotheby’s).

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

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