Auction Results: Post-War and Contemporary Art Evening, Morning, and Afternoon Sales, May 17 and 18, 2018 @Christie’s

The photography included in Christie’s recent Post-War and Contemporary Art sales in New York was scattered and haphazard, almost like an afterthought. Without many photo consignments of interest, the top lot fell to a David Wojnarowicz collage, and for the works that were available, the Buy-In rate topped 35%. With no positive surprises to catalyze any action, the Total Sale Proceeds fell just below the low end of the aggregate pre-sale estimate range for photography.

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

Summary Statistics
Total Lots 17
Pre Sale Low Total Estimate $1586000
Pre Sale High Total Estimate $2383000
Total Lots Sold 11
Total Lots Bought In 6
Buy In % 35.29%
Total Sale Proceeds $1563500

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 1
Low Sold 1
Low Bought In 0
Low Buy In % 0.00%
Total Low Estimate $8000
Total Low Sold $8750
Mid Total Lots 5
Mid Sold 4
Mid Bought In 1
Mid Buy In % 20.00%
Total Mid Estimate $165000
Total Mid Sold $183750
Total High Lots 11
High Sold 5
High Bought In 6
High Buy In % 54.55%
Total High Estimate $2210000
Total High Sold $1371000

The top photography lot by High estimate was lot 1B, David Wojnarowicz, Science Lesson, 1982-1983, estimated at $400000-600000. It was also the top photography outcome of the sales at $708500 (image above, via Christie’s).

90.91% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sales (defined as having proceeds of at least double the high estimate).

The complete lot by lot results can be found here (Evening), here (Morning), and here (Afternoon).

David Wojnarowicz, Christie's

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