Auction Results: Contemporary Curated, March 2, 2018 @Sotheby’s

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
Pre Sale Low Total Estimate $1364000
Pre Sale High Total 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
Low Sold 3
Low Bought In 1
Low Buy In % 25.00%
Total Low Estimate $26000
Total Low Sold $31875
Mid Total Lots 10
Mid Sold 8
Mid Bought In 2
Mid Buy In % 20.00%
Total Mid Estimate $239000
Total Mid Sold $225000
Total High Lots 13
High Sold 11
High Bought In 2
High Buy In % 15.38%
Total High Estimate $1640000
Total High Sold $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.

Read more about: Andreas Gursky, Louise Lawler, Sotheby's

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