Auction Results: Masterpieces of Design and Photography, March 6, 2019 @Christie’s London

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
Pre Sale Low Total Estimate £2840000
Pre Sale High Total 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
Low Sold NA
Low Bought In NA
Low Buy In % NA
Total Low Estimate £0
Total Low Sold £0
Mid Total Lots 0
Mid Sold NA
Mid Bought In NA
Mid Buy In % NA
Total Mid Estimate £0
Total Mid Sold £0
Total High Lots 14
High Sold 12
High Bought In 2
High Buy In % 14.29%
Total High Estimate £4210000
Total High Sold £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.

El Lissitzky, Wolfgang Tillmans, Christie's

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