Auction Results: Contemporary Curated, March 7, 2014 @Sotheby’s

Led by a Richard Prince cowboy which just covered its high estimate, the photography included in Sotheby’s Contemporary Curated sale last week delivered solid results. The overall Buy-In rate hovered near 23% and the Total Sale Proceeds came in near the high end of the pre sale range, giving Sotheby’s the top spot for highest aggregate photo-based sales during Armory week.

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

Summary Statistics
Total Lots 35
Aggregate Pre Sale Low Estimate $1119000
Aggregate Pre Sale High Estimate $541000
Total Lots Sold 27
Total Lots Bought In 8
Buy In % 22.86%
Total Sale Proceeds $1467000

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 8
Total Low Lots Sold 3
Total Low Lots Bought In 5
Low Buy In % 62.50%
Aggregate High Estimate of Low Lots $65000
Total Proceeds from Low Lots $33750
Mid Total Lots 23
Total Mid Lots Sold 20
Total Mid Lots Bought In 3
Mid Buy In % 13.04%
Aggregate High Estimate of Mid Lots $536000
Total Proceeds from Mid Lots $457500
Total High Lots 4
Total High Lots Sold 4
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $940000
Total Proceeds from High Lots $975750

The top lot by High estimate was lot 211, Richard Prince, Untitled (Cowboy), 2003, estimated at $500000-700000; it was also the top outcome of the sale at $701000 (image above, left, via Sotheby’s).

85.19% of the lots that sold had proceeds in or above the estimate range, and there was only 1 surprise in the sale (defined as having proceeds of at least double the high estimate):

Lot 320, David LaChapelle, Jesus is my Homeboy: Last Supper, 2003, estimated at $15000-20000, sold at $40000 (image above, right, via Sotheby’s)

Complete lot by lot results can be found here.

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Read more about: David LaChapelle, Richard Prince, Sotheby's

One comment

  1. Pete /

    It’s been such a very long time since Prince first purloined ad photographs. They seem to be separating out from even his wry intent let alone that of the original mythologising product promotion – and increasingly simply exist disengaged, slightly sad and as simply lovely photographs.

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