Auction Results: Contemporary Curated, September 25, 2013 @Sotheby’s

It was a dismal outing for the photography found in Sotheby’s Contemporary Curated sale last week. With nine out of the top ten photo lots failing to find buyers and an overall Buy-In rate over 50%, it’s no surprise that the Total Sale Proceeds missed the pre-sale range by a wide margin.

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

Summary Statistics
Total Lots 47
Aggregate Pre Sale Low Estimate $899000
Aggregate Pre Sale High Estimate $1301000
Total Lots Sold 22
Total Lots Bought In 25
Buy In % 53.19%
Total Sale Proceeds $411875

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

Detailed Breakdown
Low Total Lots 9
Total Low Lots Sold 6
Total Low Lots Bought In 3
Low Buy In % 33.33%
Aggregate High Estimate of Low Lots $65000
Total Proceeds from Low Lots $33125
Mid Total Lots 32
Total Mid Lots Sold 16
Total Mid Lots Bought In 16
Mid Buy In % 50.00%
Aggregate High Estimate of Mid Lots $796000
Total Proceeds from Mid Lots $378750
Total High Lots 6
Total High Lots Sold 0
Total High Lots Bought In 6
High Buy In % 100.00%
Aggregate High Estimate of High Lots $440000
Total Proceeds from High Lots $0

The top lot by High estimate was lot 35, John Baldessari, National City (W, 1, 2, 3, 4, 5, 6, B), 1996-2009, estimated at $80000-120000; it did not sell. The top outcome of the sale was lot 148, James Casebere, Arcade, 1995, estimated at $10000-15000, sold at $75000 (image above, left, via Sotheby’s).

77.27% of the lots that sold had proceeds in or above the estimate range, and there were a total of 3 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 148, James Casebere, Arcade, 1995, estimated at $10000-15000, sold at $75000

Lot 155, AES+F, Last Riot 2, The Track, 2006, estimated at $8000-120000, sold at $25000

Lot 156, AES+F, Last Riot 2, Tondo #22, 2006, estimated at $8000-12000, sold at $25000 (image above, right, via Sotheby’s).

Complete lot by lot results can be found here.

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Read more about: AES+F, James Casebere, Sotheby's

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