Auction Results: Contemporary Curated, March 1, 2019 @Sotheby’s

A Romare Bearden photo collage provided an unexpected spark at the recent Contemporary Curated sale at Sotheby’s, covering up for what was otherwise a lackluster outing for the included photography. Even with a Buy-In Rate for photography near 40% and just one other positive surprise, the Total Sale Proceeds came in near the top end of aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 18
Aggregate Pre Sale Low Estimate $673000
Aggregate Pre Sale High Estimate $946000
Total Lots Sold 11
Total Lots Bought In 7
Buy In % 38.89%
Total Sale Proceeds $867250

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

Detailed Breakdown
Low Total Lots 1
Total Low Lots Sold 0
Total Low Lots Bought In 1
Low Buy In % 100.00%
Aggregate High Estimate of Low Lots $8000
Total Proceeds from Low Lots $0
Mid Total Lots 11
Total Mid Lots Sold 6
Total Mid Lots Bought In 5
Mid Buy In % 45.45%
Aggregate High Estimate of Mid Lots $338000
Total Proceeds from Mid Lots $186000
Total High Lots 6
Total High Lots Sold 5
Total High Lots Bought In 1
High Buy In % 16.67%
Aggregate High Estimate of High Lots $600000
Total Proceeds from High Lots $681250

The top photography lot by High estimate was lot 97, John Baldessari, A Sense of New Order (The Art Teacher’s Story), 1972-1973, estimated at $150000-200000; it sold at $168750. The top photographic outcome of the sale was lot 9, Romare Bearden, The Unforgotten, 1970, estimated at $60000-80000, sold at $312500. (Images above, via Sotheby’s.)

63.64% of the lots that sold had proceeds in or above the estimate range and there were 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 9, Romare Bearden, The Unforgotten, 1970, estimated at $60000-80000, sold at $312500

Lot 257, Marina Abramovic, Nude with Skeleton, 2005, estimated at $15000-20000, sold at $50000

The complete lot by lot results can be found here.

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Read more about: John Baldessari, Marina Abramović, Romare Bearden, Sotheby's

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