Auction Results: Contemporary Art Evening and Day Auctions, October 14 and 15, 2021 @Sotheby’s London

Large scale German photography has gone through a soft patch of late, so it was interesting to see an Andreas Gurksy stock exchange image jump back up into view at Sotheby’s recent Contemporary Art auctions in London, with a sale just under £500K. But the other (actually higher estimated) Gursky print also on offer didn’t sell, which dampened the overall results. With just nine lots of photography available across the two sales, a nearly 45% Buy-In rate for photography made the results more susceptible to lumpy swings, and when the dust settled, the Total Sale Proceeds for photography (of roughly £725K) came in below 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 9
Aggregate Pre Sale Low Estimate £774000
Aggregate Pre Sale High Estimate £1071000
Total Lots Sold 5
Total Lots Bought In 4
Buy In % 44.44%
Total Sale Proceeds £725800

Here is the breakdown (using our usual Low, Mid, and High price tier 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 3
Total Mid Lots Sold 2
Total Mid Lots Bought In 1
Mid Buy In % 33.33%
Aggregate High Estimate of Mid Lots £31000
Total Proceeds from Mid Lots £60480
Total High Lots 6
Total High Lots Sold 3
Total High Lots Bought In 3
High Buy In % 50.00%
Aggregate High Estimate of High Lots £1040000
Total Proceeds from High Lots £665320

The top photography lot by High estimate was lot 144, Andreas Gursky, Pyongyang IV, 2007, estimated at £320000-420000; it did not sell. The top photography outcome of the sales was lot 37, Andreas Gursky, Chicago Mercantile Exchange, 1997, estimated at £200000-300000, sold at £499000 (image above, via Sotheby’s).

100.00% of the lots that sold had proceeds in or above the estimate range and there were 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (image above, via Sotheby’s):

Lot 138, Petra Cortright, DEATHKARZ “australia” and “songlines” and “dreamtime”_ 102.12018, 2018, estimated at £6000-8000, sold at £47880

Lot 191, Gilbert & George, Money and Shit, 1997, estimated at £20000-30000, sold at £126000

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, Gilbert and George, Petra Cortright, Sotheby's

Leave a comment

Your email address will not be published.

Recent Articles

2024 Guggenheim Fellows in Photography

2024 Guggenheim Fellows in Photography

Here’s the list of the 2024 Guggenheim Fellowship winners in Photography (with links to their respective websites as applicable). The entire list of current fellows (in all disciplines, including the ... Read on.

Sign up for our weekly email newsletter