If there’s one thing that the recent single artist sale of the work of Hiroshi Sugimoto at Christie’s in Paris tells us, it is that the market for Sugimoto’s work is mature and predictable. Two mural-sized seascapes led the sale and both sold at or just above their estimate ranges. And while the overall Buy-In rate was high (over 46%), there were enough secondary and lesser known works on offer to make that outcome understandable. For those lots that did sell, two thirds sold right within in their estimate range, and there were no positive surprises at all. In the end, the Total Sale Proceeds fell below the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
|Aggregate Pre Sale Low Estimate||€1284000|
|Aggregate Pre Sale High Estimate||€1896000|
|Total Lots Sold||15|
|Total Lots Bought In||13|
|Buy In %||46.43%|
|Total Sale Proceeds||€1208000|
Here is the breakdown (using our typical Low, Mid, and High definitions):
|Low Total Lots||1|
|Total Low Lots Sold||1|
|Total Low Lots Bought In||0|
|Low Buy In %||0.00%|
|Aggregate High Estimate of Low Lots||€7000|
|Total Proceeds from Low Lots||€5250|
|Mid Total Lots||14|
|Total Mid Lots Sold||7|
|Total Mid Lots Bought In||7|
|Mid Buy In %||50.00%|
|Aggregate High Estimate of Mid Lots||€314000|
|Total Proceeds from Mid Lots||€196250|
|Total High Lots||13|
|Total High Lots Sold||7|
|Total High Lots Bought In||6|
|High Buy In %||46.15%|
|Aggregate High Estimate of High Lots||€1575000|
|Total Proceeds from High Lots||€1006500|
The top lot by High estimate was tied between two lots: lot 205, Hiroshi Sugimoto, Sea of Japan, Rebun Island, 1996, and lot 216, Hiroshi Sugimoto, Bass Strait, Table Cape, 1997, both estimated at €200000-300000. The Sea of Japan print was the top outcome of the sale at €307500, while the Bass Strait print sold at €271500 (images above, via Christie’s).
93.33% of the lots that sold had proceeds in or above the estimate range and there were no surprises in the sale (defined as having proceeds of at least double the high estimate).
Complete lot by lot results can be found here.