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
Pre Sale Low Total Estimate £1404000
Pre Sale High Total 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
Low Sold 0
Low Bought In 0
Low Buy In % NA
Total Low Estimate £0
Total Low Sold NA
Mid Total Lots 13
Mid Sold 11
Mid Bought In 2
Mid Buy In % 15.38%
Total Mid Estimate £204000
Total Mid Sold £182500
Total High Lots 14
High Sold 10
High Bought In 4
High Buy In % 28.57%
Total High Estimate £1800000
Total High Sold £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).

Candida Höfer, Christie's

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