Auction Results: Contemporary Curated (online), April 18, 2023 @Sotheby’s London

The photographic results from Sotheby’s recent Contemporary Curated sale in London were generally uneventful. The top lot Andreas Gursky print failed to find a buyer, but the overall Buy-In rate for photography came in under 30% and there were a couple of positive surprises, so the sale found some balance. When the tally was complete, the Total Sale Proceeds for photography (of roughly £270K) came in just below the low end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 14
Aggregate Pre Sale Low Estimate £310500
Aggregate Pre Sale High Estimate £435000
Total Lots Sold 10
Total Lots Bought In 4
Buy In % 28.57%
Total Sale Proceeds £270256

Here is the breakdown (using our usual Low, Mid, and High price tier definitions). Given changing exchange rates, we have adjusted the break points between tiers to better match $10000 and $50000:

Detailed Breakdown
Low Total Lots 5
Total Low Lots Sold 3
Total Low Lots Bought In 2
Low Buy In % 40.00%
Aggregate High Estimate of Low Lots £32000
Total Proceeds from Low Lots £27686
Mid Total Lots 6
Total Mid Lots Sold 5
Total Mid Lots Bought In 1
Mid Buy In % 16.67%
Aggregate High Estimate of Mid Lots £153000
Total Proceeds from Mid Lots £152400
Total High Lots 3
Total High Lots Sold 2
Total High Lots Bought In 1
High Buy In % 33.33%
Aggregate High Estimate of High Lots £250000
Total Proceeds from High Lots £90170

The top photography lot by High estimate was lot 63, Andreas Gursky, Beijing, 2010, estimated at £80000-120000; it did not sell. The top photography outcome of the sale was lot 56, Gilbert & George, Autumn Faith, 1980, estimated at £50000-70000, sold at £69850 (image above, via Sotheby’s).

90.00% 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) (image above, via Sotheby’s):

Lot 38, Nan Goldin, Heart Shaped Bruise, N.Y.C, 1980, estimated at £5000-7000, sold at £16510

Lot 62, Wolfgang Tillmans, Zimmerer, 1996, estimated at £15000-20000, sold at £44450

The complete lot by lot results can be found here.

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Read more about: Gilbert and George, Nan Goldin, Wolfgang Tillmans, Sotheby's

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