Auction Results: Post-War and Contemporary Art Evening and Day Auctions, October 4 and 5, 2019 @Christie’s London

The photography lots at Christie’s recent Post War and Contemporary Art auctions in London generally met expectations. While the top lot Andreas Gursky print sold below its estimate range, the Buy-In rate for photography was just over 15%. With a couple of positive surprises, the Total Sales Proceeds for photography covered the low end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 18
Aggregate Pre Sale Low Estimate £607000
Aggregate Pre Sale High Estimate £903000
Total Lots Sold 15
Total Lots Bought In 3
Buy In % 16.67%
Total Sale Proceeds £639750

Here is the breakdown (using our usual Low, Mid, and High price tier definitions):

Detailed Breakdown
Low Total Lots 2
Total Low Lots Sold 2
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots £10000
Total Proceeds from Low Lots £16000
Mid Total Lots 7
Total Mid Lots Sold 7
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots £108000
Total Proceeds from Mid Lots £137500
Total High Lots 9
Total High Lots Sold 6
Total High Lots Bought In 3
High Buy In % 33.33%
Aggregate High Estimate of High Lots £785000
Total Proceeds from High Lots £486250

The top photography lot by High estimate was lot 239, Andreas Gursky, May Day III, 1998, estimated at £200000-300000; it was also the top photography outcome of the sales at £175000 (image above, via Christie’s).

93.33% of the photo lots that sold had proceeds in or above the estimate range and there were 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 209, Lorna Simpson, May June July August ’57, 2009, estimated at £15000-20000, sold at £52500

Lot 366, Wolfgang Tillmans, Concorde, 1996/1998, estimated at £3000-5000, sold at £10000

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

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Read more about: Andreas Gursky, Lorna Simpson, Wolfgang Tillmans, Christie's

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