Auction Results: Contemporary Art Evening and Day Auctions, November 16 and 17, 2017 @Sotheby’s

The photography included in Sotheby’s recent Contemporary Art sales in New York hit all the right notes. The top lot Andreas Gursky print sold for over $1M, the overall Buy-In rate for photography was under 15%, and there were a couple of additional positive surprises to pump things up a bit more. In the end, the Total Sale Proceeds 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 36
Aggregate Pre Sale Low Estimate $3488000
Aggregate Pre Sale High Estimate $4909000
Total Lots Sold 31
Total Lots Bought In 5
Buy In % 13.89%
Total Sale Proceeds $4658500

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

Detailed Breakdown
Low Total Lots 4
Total Low Lots Sold 4
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots $25000
Total Proceeds from Low Lots $22000
Mid Total Lots 15
Total Mid Lots Sold 13
Total Mid Lots Bought In 2
Mid Buy In % 13.33%
Aggregate High Estimate of Mid Lots $464000
Total Proceeds from Mid Lots $488750
Total High Lots 17
Total High Lots Sold 14
Total High Lots Bought In 3
High Buy In % 17.65%
Aggregate High Estimate of High Lots $4420000
Total Proceeds from High Lots $4147750

The top photography lot by High estimate was lot 69, Andreas Gursky, Madonna I, 2001, estimated at $800000-1200000 (image in preview post). It was also the top photography outcome of the sales at $1035000.

93.55% of the lots that sold had proceeds in or above the estimate range and there was a total of 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 430, Philip-Lorca diCorcia, W, March 2000, #12 from Cuba Libre, 2000, estimated at $30000-40000, sold at $125000

Lot 534, Thomas Struth, Baumgruppe bei Rutschwil No. 25, Winterthur, 1993, estimated at $8000-12000, sold at $27500

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, Philip-Lorca diCorcia, Thomas Struth, Sotheby's

Leave a comment

Your email address will not be published.

Recent Articles

Annette Kelm, Present Past Perfect @Andrew Kreps

Annette Kelm, Present Past Perfect @Andrew Kreps

JTF (just the facts): A total of 15 color photographs, framed in white and unmatted, and hung against white walls in the main gallery space and the entry area. All ... Read on.

Sign up for our weekly email newsletter