Auction Results: First Open | Post-War & Contemporary Art and The Rosa de la Cruz Collection Online Sale, July 17 and 18, 2024 @Christie’s (online)

The photography included in Christie’s recent First Open and Rosa de la Cruz Collection online sales generally met expectations. The top lot Richard Prince print found a buyer at more than double its estimate range, essentially making up for some softness in other parts of sale. The overall Buy-In rate for photography was an uneventful 25%, leading to Total Sale Proceeds for photography (of roughly $550K) that tallied up in 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 28
Aggregate Pre Sale Low Estimate $425000
Aggregate Pre Sale High Estimate $633000
Total Lots Sold 21
Total Lots Bought In 7
Buy In % 25.00%
Total Sale Proceeds $553014

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 12
Total Low Lots Sold 9
Total Low Lots Bought In 3
Low Buy In % 25.00%
Aggregate High Estimate of Low Lots $60000
Total Proceeds from Low Lots $42714
Mid Total Lots 14
Total Mid Lots Sold 10
Total Mid Lots Bought In 4
Mid Buy In % 28.57%
Aggregate High Estimate of Mid Lots $393000
Total Proceeds from Mid Lots $226800
Total High Lots 2
Total High Lots Sold 2
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $180000
Total Proceeds from High Lots $283500

The top photography lot by High estimate was lot 58, Richard Prince, Entertainers (Twins), 1983/2005, estimated at $80000-120000; it was also the top photography outcome of the sales at $239400 (image above, via Christie’s).

76.19% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate) (image above, via Christie’s):

Lot 1230, Lalla Essaydi, Converging Territories #23a, 2003-2006, estimated at $4000-6000, sold at $13860

The complete lot by lot results can be found here (First Open) and here (de la Cruz).

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Read more about: Lalla Essaydi, Richard Prince, Christie's

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