Auction Results: Contemporary Art Evening and Day Auctions, October 3 and 4, 2019 @Sotheby’s London

With no lots in the evening sale, the photography included in Sotheby’s recent Contemporary Art auctions in London seemed like an afterthought. The top Hiroshi Sugimoto seascape found a buyer, but with an overall Buy-In rate for photography near 60%, even with a few random surprises, the Total Sale Proceeds for photography came in well 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 17
Aggregate Pre Sale Low Estimate £549000
Aggregate Pre Sale High Estimate £806000
Total Lots Sold 7
Total Lots Bought In 10
Buy In % 58.82%
Total Sale Proceeds £253750

Here is the breakdown (using our usual Low, Mid, and High price tier definitions):

Detailed Breakdown
Low Total Lots 2
Total Low Lots Sold 2
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots £6000
Total Proceeds from Low Lots £8750
Mid Total Lots 7
Total Mid Lots Sold 3
Total Mid Lots Bought In 4
Mid Buy In % 57.14%
Aggregate High Estimate of Mid Lots £85000
Total Proceeds from Mid Lots £51250
Total High Lots 8
Total High Lots Sold 2
Total High Lots Bought In 6
High Buy In % 75.00%
Aggregate High Estimate of High Lots £715000
Total Proceeds from High Lots £193750

The top photography lot by High estimate was lot 236, Hiroshi Sugimoto, Bay of Sagami, 1998, estimated at £120000-180000. It was also the top photography outcome of the sales at £150000 (image above, via Sotheby’s).

100.00% of the lots that sold had proceeds in or above the estimate range and there were 3 positive surprises in the sales (defined as having proceeds of at least double the high estimate):

Lot 212, Harold Ancart, Untitled, 2013, estimated at £8000-12000, sold at £25000

Lot 214, Nobuyoshi Araki, Untitled (Kinbaku), 2008, estimated at £2000-3000, sold at £6250

Lot 288, Ed Ruscha, Vacant Lots, 1970-2003, estimated at £5000-7000, sold at £16250

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

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Read more about: Ed Ruscha, Harold Ancart, Hiroshi Sugimoto, Nobuyoshi Araki, Sotheby's

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