Auction Results: Post-War and Contemporary Art Evening and Day Auctions, February 13 and 14, 2013 @Christie’s London

The results for the photography included in Christie’s Post-War and Contemporary Art Evening and Day sales in London last week were meaningfully better than expected. With the Buy-In rate for photography under 7 percent and all five photography lots in the Evening sale finding buyers at prices above their estimates, it comes as no surprise that the Total Sale Proceeds for photography easily exceeded the high end of the range.

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

Summary Statistics
Total Lots 43
Aggregate Pre Sale Low Estimate £2268500
Aggregate Pre Sale High Estimate £3182000
Total Lots Sold 40
Total Lots Bought In 3
Buy In % 6.98%
Total Sale Proceeds £3962071

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

Detailed Breakdown
Low Total Lots 3
Total Low Lots Sold 3
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots £10000
Total Proceeds from Low Lots £6688
Mid Total Lots 19
Total Mid Lots Sold 19
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots £267000
Total Proceeds from Mid Lots £384575
Total High Lots 21
Total High Lots Sold 18
Total High Lots Bought In 3
High Buy In % 14.29%
Aggregate High Estimate of High Lots £2905000
Total Proceeds from High Lots £3570808

The top photography lot by High estimate was lot 11, Gilbert & George, Dead Boards No. 11, 1976, at £350000-450000; it was also the top photography outcome of the two sales, at £601250.

95.00% of the lots that sold had proceeds in or above their estimate. There was only one surprise in these sales (defined as having proceeds of at least double the high estimate):

Lot 225, Sol LeWitt, Manhattan with Roosevelt Island Removed, 1978, estimated at £5000-7000, sold at £23750 (image at right, top, via Christie’s)

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

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Read more about: Sol LeWitt, Christie's

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