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
Aggregate Pre Sale Low Estimate $1586000
Aggregate Pre Sale High 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
Total Low Lots Sold 1
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots $8000
Total Proceeds from Low Lots $8750
Mid Total Lots 5
Total Mid Lots Sold 4
Total Mid Lots Bought In 1
Mid Buy In % 20.00%
Aggregate High Estimate of Mid Lots $165000
Total Proceeds from Mid Lots $183750
Total High Lots 11
Total High Lots Sold 5
Total High Lots Bought In 6
High Buy In % 54.55%
Aggregate High Estimate of High Lots $2210000
Total Proceeds from High Lots $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).

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Read more about: David Wojnarowicz, Christie's

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