The photography results from Christie’s recent First Open online sale were largely uneventful. After the top lot Richard Prince Instagram portrait failed to sell, a Rodney Graham print took the top lot honors, with the Total Sale Proceeds (of roughly $255K) coming in just below 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 | 22 |
| Aggregate Pre Sale Low Estimate | $266500 |
| Aggregate Pre Sale High Estimate | $391500 |
| Total Lots Sold | 17 |
| Total Lots Bought In | 5 |
| Buy In % | 22.73% |
| Total Sale Proceeds | $256662 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 8 |
| Total Low Lots Sold | 8 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $51500 |
| Total Proceeds from Low Lots | $58842 |
| Mid Total Lots | 13 |
| Total Mid Lots Sold | 9 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 30.77% |
| Aggregate High Estimate of Mid Lots | $240000 |
| Total Proceeds from Mid Lots | $197820 |
| Total High Lots | 1 |
| Total High Lots Sold | 0 |
| Total High Lots Bought In | 1 |
| High Buy In % | 100.00% |
| Aggregate High Estimate of High Lots | $100000 |
| Total Proceeds from High Lots | $0 |
The top photography lot by High estimate was lot 24, Richard Prince, Untitled (Portrait), 2014, estimated at $70000-1000000; it did not sell. The top photography outcome of the sale was lot 231, Rodney Graham, Typewriter with Flour, 2003, estimated at $8000-12000, sold at $47880 (image above, via Christie’s.)
76.47% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):
Lot 112, Wolfgang Tillmans, Lars in tube, 1993, estimated at $6000-8000, sold at $21420
Lot 231, Rodney Graham, Typewriter with Flour, 2003, estimated at $8000-12000, sold at $47880
The complete lot by lot results can be found here.
