Auction Results: Contemporary Art Online | New York, July 21, 2021 @Sotheby’s

The photographs included in Sotheby’s recent Contemporary Art online sale delivered altogether solid results. Both top lots found buyers, and were then bested by a Vik Muniz reworking of Van Gogh. The overall Buy-In rate for photography was a bit high (at 25%), but with a couple of positive surprises, the Total Sale Proceeds for photography (of just over $475K) came in well above the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 16
Aggregate Pre Sale Low Estimate $250800
Aggregate Pre Sale High Estimate $367200
Total Lots Sold 12
Total Lots Bought In 4
Buy In % 25.00%
Total Sale Proceeds $476154

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

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 $25200
Total Proceeds from Low Lots $25074
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 $222000
Total Proceeds from Mid Lots $322560
Total High Lots 2
Total High Lots Sold 2
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $120000
Total Proceeds from High Lots $128520

The top photography lot by High estimate was tied between two lots, each estimated at $40000-60000: lot 50, Cindy Sherman, Untitled #121, 1983, and lot 58, Vik Muniz, Standard Station (Night), after Ed Ruscha, 2008. The Sherman sold at $40320 and the Muniz sold at $88200, but neither was the top photography outcome of the sale. That honor went to lot 217, Vik Muniz, Almond Blossom, after van Gogh (from ‘Pictures of Magazines’), 2005, estimated at $20000-30000, sold at $107100 (image above, via Sotheby’s.)

91.67% of the lots that sold had proceeds in or above the estimate range and there were a total of 3 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s).

Lot 51, Lorna Simpson, 2 Tracks, 1990, estimated at $20000-30000, sold at $69300

Lot 213, David LaChapelle, “Last Supper” (from ‘Jesus is my Homeboy’), 2003, estimated at $15000-25000, sold at $63000

Lot 217, Vik Muniz, Almond Blossom, after van Gogh (from ‘Pictures of Magazines’), 2005, estimated at $20000-30000, sold at $107100

The complete lot by lot results can be found here.

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Read more about: David LaChapelle, Lorna Simpson, Vik Muniz, Sotheby's

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