Auction Results: Post-War and Contemporary Art Evening and Day Auctions, February 13 and 14, 2014 @Christie’s London

The photography mixed into Christie’s Post-War and Contemporary Art auctions last week in London didn’t provide much in the way of drama. Only 2 of the 5 Gurskys on offer found buyers, and there were no photo lots that jumped to the unexpected positive surprise territory. As a result, the Total Sale Proceeds struggled to cover the low end of the pre sale estimate range.

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

Summary Statistics
Total Lots 27
Aggregate Pre Sale Low Estimate £1404000
Aggregate Pre Sale High Estimate £2004000
Total Lots Sold 21
Total Lots Bought In 6
Buy In % 22.22%
Total Sale Proceeds £1527500

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 0
Total Low Lots Bought In 0
Low Buy In % NA
Aggregate High Estimate of Low Lots £0
Total Proceeds from Low Lots NA
Mid Total Lots 13
Total Mid Lots Sold 11
Total Mid Lots Bought In 2
Mid Buy In % 15.38%
Aggregate High Estimate of Mid Lots £204000
Total Proceeds from Mid Lots £182500
Total High Lots 14
Total High Lots Sold 10
Total High Lots Bought In 4
High Buy In % 28.57%
Aggregate High Estimate of High Lots £1800000
Total Proceeds from High Lots £1345000

The top lot by High estimate was lot 46, Andreas Gursky, Dubai World I, 2007, estimated at £300000-400000; it was also the top outcome of the two sales at £338500.

95.24% of the lots that sold had proceeds in or above the estimate range, and there were no surprises in the sales (defined as having proceeds of at least double the high estimate). (Lot 188, Candida Höfer, Kunsthaus Bregenz I, 1999, estimated at £10000-15000, sold at £23750, above via Christie’s.)

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

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Read more about: Candida Höfer, Christie's

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