Auction Results: Contemporary Day Auction, May 14, 2024 @Sotheby’s

The results for the photography included in the contemporary sales at Sotheby’s in New York last week were solid. With no photo lots in the Now or Contemporary Art evening sales (and no photographs included in the parallel Modern Art sales either), the available photography settled into the Day sale, where it performed admirably. The top lots (from Cindy Sherman and John Baldessari) both found buyers within their estimate ranges, and more broadly the included photography sold through entirely (the Buy-In rate was a tidy 0.00%), with 1 positive surprise (an overpainted Gerhard Richter photo) to further help the numbers. When the tally was done, the Total Sale Proceeds for photography (of roughly $1.2M) came in near the top end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 10
Aggregate Pre Sale Low Estimate $930000
Aggregate Pre Sale High Estimate $1330000
Total Lots Sold 10
Total Lots Bought In 0
Buy In % 0.00%
Total Sale Proceeds $1270635

Here is the breakdown (using our usual Low, Mid, and High price tier definitions):

Detailed Breakdown
Low Total Lots 0
Total Low Lots Sold NA
Total Low Lots Bought In NA
Low Buy In % NA
Aggregate High Estimate of Low Lots $0
Total Proceeds from Low Lots $0
Mid Total Lots 5
Total Mid Lots Sold 5
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots $180000
Total Proceeds from Mid Lots $254635
Total High Lots 5
Total High Lots Sold 5
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $1150000
Total Proceeds from High Lots $1016000

The top photography lot by High estimate was tied between two lots, each estimated at $250000-350000: lot 253, John Baldessari, Two Groups (One Warm/One Cool) In Different Environments, 1990, and lot 550, Cindy Sherman, Untitled #420, 2004; the Sherman print was the top photography outcome of the sale at $330200 (image above, via Sotheby’s), while the Baldessari work sold at $254000.

90.00% of the lots that sold had proceeds in or above the estimate range and there was 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Sotheby’s):

Lot 234, Gerhard Richter, 11. März 2000 (Firenze), 2000, estimated at $40000-50000, sold at $107950

The complete lot by lot results can be found here.

Send this article to a friend

Read more about: Cindy Sherman, Gerhard Richter, Sotheby's

Leave a comment

Your email address will not be published.

Recent Articles

Mark Steinmetz, ATL

Mark Steinmetz, ATL

JTF (just the facts): Published in 2024 by Nazraeli Press (here). Cloth hardback with tipped in cover photograph, 10.5 x 12 inches, 80 pages, with 63 duotone photographs. Includes an ... Read on.

Sign up for our weekly email newsletter