Aside from two Cindy Sherman prints that jumped over their estimates, the results for the photography found in Christie’s First Open sale were generally lackluster. With an overall Buy-In rate coming in at a hefty 50% and Total Sale Proceeds that missed the low end of the estimate range, it was the weakest of the photography results during the Armory week Contemporary Art sales.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 58 |
| Aggregate Pre Sale Low Estimate | $916000 |
| Aggregate Pre Sale High Estimate | $1304000 |
| Total Lots Sold | 29 |
| Total Lots Bought In | 29 |
| Buy In % | 50.00% |
| Total Sale Proceeds | $864625 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 24 |
| Total Low Lots Sold | 8 |
| Total Low Lots Bought In | 16 |
| Low Buy In % | 66.67% |
| Aggregate High Estimate of Low Lots | $150000 |
| Total Proceeds from Low Lots | $45500 |
| Mid Total Lots | 27 |
| Total Mid Lots Sold | 16 |
| Total Mid Lots Bought In | 11 |
| Mid Buy In % | 40.74% |
| Aggregate High Estimate of Mid Lots | $554000 |
| Total Proceeds from Mid Lots | $420125 |
| Total High Lots | 7 |
| Total High Lots Sold | 5 |
| Total High Lots Bought In | 2 |
| High Buy In % | 28.57% |
| Aggregate High Estimate of High Lots | $600000 |
| Total Proceeds from High Lots | $399000 |
The top lot by High estimate was lot 129, John Baldessari, Sphinx and Cigarette (with Two Answers) – Version 2, 1997, estimated at $80000-120000; it did not sell. The top outcome of the sale was lot 4, Cindy Sherman, Untitled, 2010/2012, estimated at $50000-70000, sold at $149000 (image above, via Christie’s).
79.31% of the lots that sold had proceeds in or above the estimate range, and there were only 2 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 4, Cindy Sherman, Untitled, 2010/2012, estimated at $50000-70000, sold at $149000 (image above, via Christie’s).
Lot 166, Cindy Sherman, Untitled, 2000, estimated at $30000-40000, sold at $137000 (see preview post here for image).
Complete lot by lot results can be found here.
