With no photographs in the Evening sale, the photography action fell to the Day sale at the Contemporary Art auctions at Sotheby’s in London last week. The top photo lot Wolfgang Tillmans abstraction found a buyer within its estimate range, and the rest of the photography on offer performed well. The overall Buy-In rate for photography came in below 13%, and even with no positive surprises, the Total Sale Proceeds for photography (of roughly £520K) settled comfortably into the middle of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 8 |
| Aggregate Pre Sale Low Estimate | £400000 |
| Aggregate Pre Sale High Estimate | £583000 |
| Total Lots Sold | 7 |
| Total Lots Bought In | 1 |
| Buy In % | 12.50% |
| Total Sale Proceeds | £523240 |
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 | 4 |
| Total Mid Lots Sold | 3 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 25.00% |
| Aggregate High Estimate of Mid Lots | £83000 |
| Total Proceeds from Mid Lots | £59690 |
| 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 | £500000 |
| Total Proceeds from High Lots | £463550 |
The top photography lot by High estimate was lot 221, Wolfgang Tillmans, Freischwimmer 86, 2004, estimated at £120000-180000; it was also the top photography outcome of the sales at £165100 (image above, via Sotheby’s).
100.00% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sales (defined as having proceeds of at least double the high estimate).
The complete lot by lot results can be found here.
