Auction Results: Post-War and Contemporary Art Day Sale, March 1, 2023 @Christie’s London

With no photography lots in either the 20th/21st Century: London Evening Sale or The Art of the Surreal Evening Sale,  the photography responsibility for the spring London season at Christie’s fell on the Post-War and Contemporary Art Day Sale last Wednesday. A Wolfgang Tillmans abstraction led the way, and found a buyer well above its pre-sale estimate range, essentially carrying the rest of the sale with its positive momentum. With a respectable overall Buy-In rate for photography of 20%, the Total Sales Proceeds for photography (of roughly £600K) came in above the high end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 10
Aggregate Pre Sale Low Estimate £336000
Aggregate Pre Sale High Estimate £501000
Total Lots Sold 8
Total Lots Bought In 2
Buy In % 20.00%
Total Sale Proceeds £604170

Here is the breakdown (using our usual Low, Mid, and High price tier definitions):

Detailed Breakdown
Low Total Lots 1
Total Low Lots Sold 0
Total Low Lots Bought In 1
Low Buy In % 100.00%
Aggregate High Estimate of Low Lots £6000
Total Proceeds from Low Lots £0
Mid Total Lots 5
Total Mid Lots Sold 4
Total Mid Lots Bought In 1
Mid Buy In % 20.00%
Aggregate High Estimate of Mid Lots £125000
Total Proceeds from Mid Lots £156870
Total High Lots 4
Total High Lots Sold 4
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots £370000
Total Proceeds from High Lots £447300

The top photography lot by High estimate was lot 297, Wolfgang Tillmans, Freischwimmer 39, 2004, estimated at £120000-180000; it was also the top photography outcome of the sale at £302400 (image above, via Christie’s).

100.00% of the photo lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Christie’s):

Lot 310, Dieter Roth & Richard Hamilton, Interfaces 15 and 16, 1977-1978, estimated at £20000-30000, sold at £68400

Complete lot by lot results can be found here.

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Read more about: Richard Hamilton, Wolfgang Tillmans, Christie's

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