Auction Results: Post-War and Contemporary Art Evening and Day Auctions, February 11 and 12, 2015 @Christie’s London

It was an uneventfully steady outcome for the photography buried in the Post-War and Contemporary Art sales at Christie’s in London last week. With an overall Buy-In rate for photography hovering near 25% and no major surprises, the Total Sale Proceeds comfortably settled into the pre-sale estimate range.

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

Summary Statistics
Total Lots 26
Pre Sale Low Total Estimate £872000
Pre Sale High Total Estimate £1255000
Total Lots Sold 19
Total Lots Bought In 7
Buy In % 26.92%
Total Sale Proceeds £1134875

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

Detailed Breakdown
Low Total Lots 1
Low Sold 1
Low Bought In 0
Low Buy In % 0.00%
Total Low Estimate £5000
Total Low Sold £5625
Mid Total Lots 15
Mid Sold 10
Mid Bought In 5
Mid Buy In % 33.33%
Total Mid Estimate £195000
Total Mid Sold £166250
Total High Lots 10
High Sold 8
High Bought In 2
High Buy In % 20.00%
Total High Estimate £1055000
Total High Sold £963000

The top lot by High estimate was lot 63, Andreas Gursky, Hong Kong Borse II, 1995, estimated at £250000-350000; it was also the top photography outcome of the two sales at £302500 (image in preview post).

94.74% of the photo lots that sold had proceeds in or above the estimate range and there was only 1 surprise in the two sales (defined as having proceeds of at least double the high estimate):

Lot 223, Candida Höfer, Biblioteca General da Universidade de Coimbra IV, 2006, estimated at £25000-35000, sold at £80500 (image above, left, via Christie’s)

Complete lot by lot results can be found here (Evening) and here (Day).

Candida Höfer, Christie's

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