While the sale of Andy Warhol’s Silver Car Crash for $105 million was grabbing all the attention in Sotheby’s recent Contemporary Art auctions, the photography included in those same sales was muddling along. With a Buy-In rate for photography near 50% and no positive surprises, it should be no revelation that the Total Sale Proceeds for photography fell well below the pre-sale estimate range. With so little excitement, there aren’t even any representative images worth reproducing here that weren’t already in the preview post.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 34 |
| Aggregate Pre Sale Low Estimate | $2425000 |
| Aggregate Pre Sale High Estimate | $3480000 |
| Total Lots Sold | 18 |
| Total Lots Bought In | 16 |
| Buy In % | 47.06% |
| Total Sale Proceeds | $1789910 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| 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 | NA |
| Mid Total Lots | 10 |
| Total Mid Lots Sold | 6 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 40.00% |
| Aggregate High Estimate of Mid Lots | $310000 |
| Total Proceeds from Mid Lots | $249375 |
| Total High Lots | 24 |
| Total High Lots Sold | 12 |
| Total High Lots Bought In | 12 |
| High Buy In % | 50.00% |
| Aggregate High Estimate of High Lots | $3170000 |
| Total Proceeds from High Lots | $1540535 |
The top lot by High estimate was lot 510, Jeff Wall, Figures on a Sidewalk, 2008, estimated at $300000-500000; it did not sell. The top outcome of the two sales was lot 468, John Baldessari, Boat (Green) with Two Observers, 1991, estimated at $180000-250000, sold at $485000 (image in the preview post).
83.33% of the lots that sold had proceeds in or above the estimate range, and there were no photographic surprises in the two sales (defined as having proceeds of at least double the high estimate).
Complete lot by lot results can be found Evening (here) and Day (here).
