Auction Results: Masterpieces of Design & Photography, October 3, 2017 @Christie’s London

Given that there were so few lots in Christie’s recent Masterpieces of Design & Photography sale in London (and that they were universally of high quality/price), the results were bound to be a bit lumpy – a few sales or passes here or there might have swung the totals one way or the other quite easily. In the end, the numbers found there way to the respectable middle. The top lot Gilbert & George work sold within its range, and the overall Buy-In rate for the photography hovered near 25%. While an Irving Penn floral was the only outlier positive surprise, most of the lots that sold did so above their high estimates.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 15
Aggregate Pre Sale Low Estimate £3030000
Aggregate Pre Sale High Estimate £4560000
Total Lots Sold 11
Total Lots Bought In 4
Buy In % 26.67%
Total Sale Proceeds £3598750

Here is the breakdown (using the Low, Mid, and High definitions from the preview post)

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 15
Total High Lots Sold 11
Total High Lots Bought In 4
High Buy In % 26.67%
Aggregate High Estimate of High Lots £4560000
Total Proceeds from High Lots £3598750

The top photography lot by High estimate was lot 21, Gilbert & George, Red Morning (Hell), 1977, estimated at £800000-1200000 (image in preview post). It was also the top photography outcome of the sale at £848750.

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 3, Irving Penn, Cottage Tulip: Sorbet, New York, 1967/1968, estimated at £60000-80000, sold at £260750

Complete lot by lot results can be found here.

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