The photographs sold in Sotheby’s recent Contemporary Art auctions in New York generally met expectations. With a photography Buy-In rate of roughly 22% and only one positive surprise, the Total Sale Proceeds for photography (just over $1.3M) came in near the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 18 |
| Aggregate Pre Sale Low Estimate | $1282000 |
| Aggregate Pre Sale High Estimate | $1893000 |
| Total Lots Sold | 14 |
| Total Lots Bought In | 4 |
| Buy In % | 22.22% |
| Total Sale Proceeds | $1317500 |
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 | 10 |
| Total Mid Lots Sold | 8 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 20.00% |
| Aggregate High Estimate of Mid Lots | $283000 |
| Total Proceeds from Mid Lots | $317500 |
| Total High Lots | 8 |
| Total High Lots Sold | 6 |
| Total High Lots Bought In | 2 |
| High Buy In % | 25.00% |
| Aggregate High Estimate of High Lots | $1610000 |
| Total Proceeds from High Lots | $1000000 |
The top photography lot by High estimate was lot 132, Cindy Sherman, Untitled Film Still No. 17, 1978, estimated at $300000-500000; it did not sell. The top photography outcome of the sales was lot 420, Barbara Kruger, Untitled (Avoid Eye Contact), 2018, estimated at $200000-300000, sold at $400000 (image above, via Sotheby’s).
92.86% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 432, Lorna Simpson, Speechless, 2017, estimated at $12000-18000, sold at $43750
The complete lot by lot results can be found here (Evening) and here (Day).
