Led by a Wolfgang Tillmans waterfall image that soared to over 3X its high estimate, the photography available in Sotheby’s recent Contemporary Curated sale in New York performed well. The overall photo Buy-In rate was very low (just over 10%), and there were a handful of positive surprises to add to the momentum. When all the numbers were counted, the Total Sale Proceeds for photography fell solidly above the aggregate pre-sale high estimate.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 38 |
| Aggregate Pre Sale Low Estimate | $638400 |
| Aggregate Pre Sale High Estimate | $897200 |
| Total Lots Sold | 34 |
| Total Lots Bought In | 4 |
| Buy In % | 10.53% |
| Total Sale Proceeds | $1008375 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 15 |
| Total Low Lots Sold | 15 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $72200 |
| Total Proceeds from Low Lots | $112625 |
| Mid Total Lots | 17 |
| Total Mid Lots Sold | 14 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 17.65% |
| Aggregate High Estimate of Mid Lots | $415000 |
| Total Proceeds from Mid Lots | $333750 |
| Total High Lots | 6 |
| Total High Lots Sold | 5 |
| Total High Lots Bought In | 1 |
| High Buy In % | 16.67% |
| Aggregate High Estimate of High Lots | $410000 |
| Total Proceeds from High Lots | $562000 |
The top lot by High estimate was lot 212, Wolfgang Tillmans, Iguazu, 2010, estimated at $70000-90000 (image in preview post); it was also the top photography outcome in the sale at $324500.
82.35% of the lots that sold had proceeds in or above the estimate range and there were 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 212, Wolfgang Tillmans, Iguazu, 2010, estimated at $70000-90000, sold at $324500
Lot 236, Louise Lawler, Statue Before Painting, Perseus with Head of Medusa, Canova, 1983, estimated at $2500-3000, sold at $7500
Lot 238, Louise Lawler, Civilian, 2010, estimated at $5000-7000, sold at $22500
Lot 345, Roman Signer, Santis and Bodensee, 1975, estimated at $800-1200, sold at $6000
Lot 346, Roman Signer, Lauten Auf Dem Fluss, 1986, estimated at $600-800, sold at $4375
The complete lot by lot results can be found here.
