Auction Results: Contemporary Art Evening and Day Auctions, May 16 and 17, 2018 @Sotheby’s

While there were no photography lots in the Evening sale to tempt well-heeled collectors, the photography available in Sotheby’s recent Contemporary Art sales in New York largely performed to expectations. The top lot Andreas Gursky print found a buyer, and with a reasonable Buy-In rate for photography (just over 17%) and a few positive surprises (including a Cindy Sherman film still), the Total Sale Proceeds for photography found their way to 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 35
Aggregate Pre Sale Low Estimate $3720000
Aggregate Pre Sale High Estimate $5400000
Total Lots Sold 29
Total Lots Bought In 6
Buy In % 17.14%
Total Sale Proceeds $4660250

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 0
Total Low Lots Sold NA
Total Low Lots Bought In NA
Low Buy In % NA
Aggregate High Estimate of Low Lots $0
Total Proceeds from Low Lots $0
Mid Total Lots 11
Total Mid Lots Sold 10
Total Mid Lots Bought In 1
Mid Buy In % 9.09%
Aggregate High Estimate of Mid Lots $370000
Total Proceeds from Mid Lots $393750
Total High Lots 24
Total High Lots Sold 19
Total High Lots Bought In 5
High Buy In % 20.83%
Aggregate High Estimate of High Lots $5030000
Total Proceeds from High Lots $4266500

The top photography lot by High estimate was lot 448, Andreas Gursky, Avenue of the Americas, 2001, estimated at $450000-650000. It was also the top photography outcome of the sales at $759000 (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 3 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 131, Gerhard Richter, Untitled (5.2.1991), 1991, estimated at $30000-40000, sold at $93750

Lot 445, Sigmar Polke, Untitled, 1975, estimated at $40000-60000, sold at $218750

Lot 454, Cindy Sherman, Untitled Film Still #39, 1979, estimated at $80000-120000, sold at $362500

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

Send this article to a friend

Read more about: Andreas Gursky, Cindy Sherman, Gerhard Richter, Sigmar Polke, Sotheby's

Leave a comment

Your email address will not be published.

Recent Articles

Auction Results: The Collection of Sir Elton John: Opening Night and The Day Sale, February 21, 22, and 23, 2024 @Christie’s

Auction Results: The Collection of Sir Elton John: Opening Night and The Day Sale, February 21, 22, and 23, 2024 @Christie’s

The photography included in the headliner Evening and Day sales from the collection of Sir Elton John at Christie’s in New York last week certainly capitalized on the rock star’s ... Read on.

Sign up for our weekly email newsletter