Auction Results: Contemporary Art Evening and Day Auctions, May 14 and 15, 2014 @Sotheby’s

Even with a handful of high priced passes, the massive load of photography available in Sotheby’s Contemporary Art sales last week delivered a strong performance. The Cindy Sherman film stills from the Sender collection were particularly consistent, and Richard Prince continued his string of positive surprises. With an overall Buy-In rate just over 25%, the Total Sale Proceeds for photography cleared the top end of the pre-sale estimate range with room to spare.

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

Summary Statistics
Total Lots 58
Aggregate Pre Sale Low Estimate $10328000
Aggregate Pre Sale High Estimate $14792000
Total Lots Sold 43
Total Lots Bought In 15
Buy In % 25.86%
Total Sale Proceeds $15663375

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

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 $6000
Total Proceeds from Low Lots $10000
Mid Total Lots 19
Total Mid Lots Sold 13
Total Mid Lots Bought In 6
Mid Buy In % 31.58%
Aggregate High Estimate of Mid Lots $536000
Total Proceeds from Mid Lots $417500
Total High Lots 38
Total High Lots Sold 29
Total High Lots Bought In 9
High Buy In % 23.68%
Aggregate High Estimate of High Lots $14250000
Total Proceeds from High Lots $15235875

The top photography lot by High estimate was lot 12, Cindy Sherman, Untitled #93, 1981, estimated at $2000000-3000000; it was also the top photography outcome at $3861000.

90.70% of the lots that sold had proceeds in or above the estimate range, and there were a total of 7 surprises in the sales (defined as having proceeds of at least double the high estimate):

Lot 3, Richard Prince, Untitled (Cowboy), 2000, estimated at $1000000-1500000, sold at $3077000 (image above, right, via Sotheby’s)

Lot 13, Mike Kelley, Ah… Youth, 1990, estimated at $700000-900000, sold at $1925000 (image above, left, via Sotheby’s)

Lot 453, Cindy Sherman, Untitled #47, 1979, estimated at $70000-90000, sold at $209000

Lot 455, Cindy Sherman, Untitled #60, 1980, estimated at $50000-70000, sold at $161000

Lot 456, Cindy Sherman, Untitled #29, 1979, estimated at $50000-70000, sold at $245000

Lot 484, Roe Ethridge, Myla with Column, 2008, estimated at $10000-15000, sold at $33750

Lot 510, Felix Gonzalez-Torres, Untitled (Madrid 1971), 1987-1988, estimated at $150000-2000000, sold at $545000 (image above, middle, via Sotheby’s)

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

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Read more about: Felix Gonzalez-Torres, Mike Kelley, Richard Prince, Sotheby's

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