Auction Results: First Open | Post-War & Contemporary Art (online), July 18, 2023 @Christie’s

The photography included in Christie’s recent First Open online sale didn’t deliver much in the way of excitement. Both top photo lots failed to sell, and with one withdrawal and a Buy-In rate for photography over 40%, it should come as no surprise that the Total Sale Proceeds for photography (of roughly $118K) came in meaningfully 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 19
Aggregate Pre Sale Low Estimate $185000
Aggregate Pre Sale High Estimate $278000
Total Lots Sold 11
Total Lots Bought In 8
Buy In % 42.11%
Total Sale Proceeds $118945

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

Detailed Breakdown
Low Total Lots 13
Total Low Lots Sold 9
Total Low Lots Bought In 4
Low Buy In % 30.77%
Aggregate High Estimate of Low Lots $71000
Total Proceeds from Low Lots $54685
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 $87000
Total Proceeds from Mid Lots $64260
Total High Lots 2
Total High Lots Sold 0
Total High Lots Bought In 2
High Buy In % 100.00%
Aggregate High Estimate of High Lots $120000
Total Proceeds from High Lots $0

The top photography lot by High estimate was tier between two lots, both estimated at $40000-60000: lot 6, Barbara Kruger, Untitled (The War For Me to Become You), 2008, and lot 8, Wolfgang Tillmans, Last Still Life, New York, 1995; both lots failed to sell. The top photography outcome of the sale was lot 90, Gregory Crewdson, Untitled (house in the road), 2002, estimated at $10000-15000, sold at $50400 (image above, via Christie’s.)

90.91% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Christie’s):

Lot 90, Gregory Crewdson, Untitled (house in the road), 2002, estimated at $10000-15000, sold at $50400

The complete lot by lot results can be found here.

Send this article to a friend

Read more about: Gregory Crewdson, Christie's

Leave a comment

Your email address will not be published.

Recent Articles

2024 Guggenheim Fellows in Photography

2024 Guggenheim Fellows in Photography

Here’s the list of the 2024 Guggenheim Fellowship winners in Photography (with links to their respective websites as applicable). The entire list of current fellows (in all disciplines, including the ... Read on.

Sign up for our weekly email newsletter