Led by a 1924 El Lissitzky self portrait (a gelatin silver print of the original collage) that soared to a new world record for the artist, the results from Christie’s recent Masterpieces of Design & Photography sale in London were solid. With a low Buy-In rate (under 15%) and nearly 60% of the universally high priced lots finding buyers above their estimate ranges, the Total Sale Proceeds for photography came in near the top end of the aggregate pre-sale range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 14 |
| Aggregate Pre Sale Low Estimate | £2840000 |
| Aggregate Pre Sale High Estimate | £4210000 |
| Total Lots Sold | 12 |
| Total Lots Bought In | 2 |
| Buy In % | 14.29% |
| Total Sale Proceeds | £3498250 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 0 |
| Total Low Lots Sold | NA |
| Total Low Lots Bought In | NA |
| Low Buy In % | NA |
| Aggregate High Estimate of Low Lots | £0 |
| Total Proceeds from Low Lots | £0 |
| Mid Total Lots | 0 |
| Total Mid Lots Sold | NA |
| Total Mid Lots Bought In | NA |
| Mid Buy In % | NA |
| Aggregate High Estimate of Mid Lots | £0 |
| Total Proceeds from Mid Lots | £0 |
| Total High Lots | 14 |
| Total High Lots Sold | 12 |
| Total High Lots Bought In | 2 |
| High Buy In % | 14.29% |
| Aggregate High Estimate of High Lots | £4210000 |
| Total Proceeds from High Lots | £3498250 |
The top photography lot by High estimate was lot 114, El Lissitzky, Self-Portrait (‘The Constructor’), 1924, estimated at £800000-1200000. It was also the top outcome of the sale at £947250 (image above, via Christie’s).
100.00% 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 128, Wolfgang Tillmans, Lutz & Alex sitting in the trees, 1992/1993, estimated at £30000-40000, sold at £93750
Complete lot by lot results can be found here.
