Auction Results: First Open: Post-War and Contemporary Art Online, March 9, 2023 @Christie’s London

The results from the photography included in Christie’s First Open sale in London last week were generally uneventful. The top lot Vik Muniz image found a buyer, only to be topped by a selection of images by Martin Stranka. With a couple of other positive surprises and a reasonable Buy-In rate for photography (under 20%), the Total Sale Proceeds for photography (of roughly £100K) came in just above the low end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 24
Aggregate Pre Sale Low Estimate £93000
Aggregate Pre Sale High Estimate £140500
Total Lots Sold 20
Total Lots Bought In 4
Buy In % 16.67%
Total Sale Proceeds £102816

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

Detailed Breakdown
Low Total Lots 20
Total Low Lots Sold 18
Total Low Lots Bought In 2
Low Buy In % 10.00%
Aggregate High Estimate of Low Lots £83500
Total Proceeds from Low Lots £70056
Mid Total Lots 4
Total Mid Lots Sold 2
Total Mid Lots Bought In 2
Mid Buy In % 50.00%
Aggregate High Estimate of Mid Lots £57000
Total Proceeds from Mid Lots £32760
Total High Lots 0
Total High Lots Sold NA
Total High Lots Bought In NA
High Buy In % NA
Aggregate High Estimate of High Lots £0
Total Proceeds from High Lots £0

The top photography lot by High estimate was lot 67, Vik Muniz, White Rose (from the Monad Series), 2003, estimated at £12000-18000; it sold at £15120. The top photography outcome of the sale was lot 91, Martin Stranka, Beautiful Accidents (i) My Secret Eden (ii) This Is My Church (iii) Walking on Water (iv) Life is a Game (v) There Is No Goodbye (vi) Never Been Happier (vii) Take Me Anywhere (viii) Don’t Ruin My Fantasy, 2022/2023, estimated at £10000-15000, sold at £17640 (image above, via Christie’s).

75.00% of the photo lots that sold had proceeds in or above the estimate range and there were 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 97, John Stezaker, She (Film Portrait Collage) III, 2008, estimated at £1000-2000, sold at £4032

Lot 134, Mat Collinshaw, Last Meal On Death Row ‘Johnny Frank Garret’, 2010, estimated at £1500-2500, sold at £6930

Complete lot by lot results can be found here.

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Read more about: John Stezaker, Martin Stranka, Mat Collinshaw, Christie's

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