The photographs included in the recent Contemporary Curated sale at Sotheby’s largely performed to expectations. With an overall Buy-In rate for photography under 20% and just 1 positive surprise, the Total Sale Proceeds fell in the middle of aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 27 |
| Aggregate Pre Sale Low Estimate | $1364000 |
| Aggregate Pre Sale High Estimate | $1905000 |
| Total Lots Sold | 22 |
| Total Lots Bought In | 5 |
| Buy In % | 18.52% |
| Total Sale Proceeds | $1497125 |
Here is the breakdown (using our usual Low, Mid, and High price tier definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 4 |
| Total Low Lots Sold | 3 |
| Total Low Lots Bought In | 1 |
| Low Buy In % | 25.00% |
| Aggregate High Estimate of Low Lots | $26000 |
| Total Proceeds from Low Lots | $31875 |
| Mid Total Lots | 10 |
| Total Mid Lots Sold | 8 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 20.00% |
| Aggregate High Estimate of Mid Lots | $239000 |
| Total Proceeds from Mid Lots | $225000 |
| Total High Lots | 13 |
| Total High Lots Sold | 11 |
| Total High Lots Bought In | 2 |
| High Buy In % | 15.38% |
| Aggregate High Estimate of High Lots | $1640000 |
| Total Proceeds from High Lots | $1240250 |
The top lot by High estimate was lot 210, Andreas Gursky, Dubai World II, 2007/2012, estimated at $300000-400000; it was also the top photography outcome in the sale at $399000 (image above, via Sotheby’s).
81.82% of the lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above via Sotheby’s):
Lot 221, Louise Lawler, Two Mondrians: At the Art Institute of Chicago, 1982, estimated at $5000-7000, sold at $21250
The complete lot by lot results can be found here.
