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.
