Auction Results: Post-War and Contemporary Art Evening and Day Auctions, October 16 and 17, 2014 @Christie’s London

While there were no positive surprises for the photography included in Christie’s Post-War and Contemporary Art Evening and Day sales in London last week, that didn’t prevent the sales from delivering solid results. With general strength among the high priced photo lots and an overall Buy-In rate for photography at 25%, the Total Sale Proceeds for photography easily settled into the middle of the pre-sale estimate range.

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

Summary Statistics
Total Lots 36
Aggregate Pre Sale Low Estimate £2096000
Aggregate Pre Sale High Estimate £2971000
Total Lots Sold 27
Total Lots Bought In 9
Buy In % 25.00%
Total Sale Proceeds £2311500

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 17
Total Mid Lots Sold 11
Total Mid Lots Bought In 6
Mid Buy In % 35.29%
Aggregate High Estimate of Mid Lots £291000
Total Proceeds from Mid Lots £195750
Total High Lots 19
Total High Lots Sold 16
Total High Lots Bought In 3
High Buy In % 15.79%
Aggregate High Estimate of High Lots £2680000
Total Proceeds from High Lots £2115750

The top lot by High estimate was tied between two lots: lot 76, Andreas Gursky, Albertville, 1992, and lot 80, Andreas Gursky, Hong Kong Borse II, 1995, both estimated at £300000-400000; Albertville did not sell, while Hong Kong Borse II sold at £350500. The top photography outcome of the sale was lot 73, Thomas Struth, National Gallery 2, London, 2001, estimated at £200000-300000, sold at £386500 (image featured in the preview post).

96.30% 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). The closest outcome to a surprise as lot 332, Andreas Gursky, Fortuna Dusseldorf, 2000, estimated at £50000-70000, sold at £134500 (image above, via Christie’s).

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

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