The photography included in Christie’s recent First Open sale in London wasn’t particularly notable, but the few lots that were on offer fared quite well. The top lot Gilbert & George print found a buyer above its range and the overall Buy-In rate for photography was under 15%, helping the Total Sale Proceeds to come in just above the aggregate pre-sale high estimate.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 15 |
| Aggregate Pre Sale Low Estimate | £149800 |
| Aggregate Pre Sale High Estimate | £215000 |
| Total Lots Sold | 13 |
| Total Lots Bought In | 2 |
| Buy In % | 13.33% |
| Total Sale Proceeds | £247500 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 4 |
| Total Low Lots Sold | 4 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | £14000 |
| Total Proceeds from Low Lots | £16250 |
| Mid Total Lots | 9 |
| Total Mid Lots Sold | 7 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 22.22% |
| Aggregate High Estimate of Mid Lots | £121000 |
| Total Proceeds from Mid Lots | £135000 |
| 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 | £80000 |
| Total Proceeds from High Lots | £96250 |
The top photography lot by High estimate was lot 76, Gilbert & George, Holy Piss, 1996, estimated at £35000-45000 (image in preview post). It was also the top photography outcome of the sale at £52500.
92.31% of the photo lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Christie’s):
Lot 56, Marina Abramovic, Balkan Baroque I, 1997, estimated at £10000-15000, sold at £32500
Complete lot by lot results can be found here.
