Auction Results: Contemporary Art Evening and Day Auctions, November 14 and 15, 2018 @Sotheby’s

The photographs buried in Sotheby’s recent Contemporary Art auctions in New York performed admirably. Led by a Richard Prince cowboy finding a buyer at just under $1.7M, and supported by a photography Buy-In rate of under 6% (only one photo lot went unsold), the Total Sale Proceeds for photography came in near the top end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 17
Aggregate Pre Sale Low Estimate $3450000
Aggregate Pre Sale High Estimate $4915000
Total Lots Sold 16
Total Lots Bought In 1
Buy In % 5.88%
Total Sale Proceeds $4661500

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 4
Total Mid Lots Sold 4
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots $105000
Total Proceeds from Mid Lots $118750
Total High Lots 13
Total High Lots Sold 12
Total High Lots Bought In 1
High Buy In % 7.69%
Aggregate High Estimate of High Lots $4810000
Total Proceeds from High Lots $4542750

The top photography lot by High estimate was lot 47, Richard Prince, Untitled (Cowboy), 2013, estimated at $1200000-1800000. It was also the top photography outcome of the sales at $1695000 (image above, via Sotheby’s).

93.75% 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 512, Hiroshi Sugimoto, Ligurian Sea, Savoire, 1993, estimated at $120000-180000, sold at $435000

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

Send this article to a friend

Read more about: Hiroshi Sugimoto, Richard Prince, Sotheby's

Leave a comment

Your email address will not be published.

Recent Articles

Fall Reveal @MoMA

Fall Reveal @MoMA

JTF (just the facts): A total of 19 rehung permanent collection galleries, arrayed across the second, fourth, and fifth floors on the museum. The photographs included in each room are ... Read on.

Sign up for our weekly email newsletter