The results of Christie’s landmark set of Post-War and Contemporary Art sales last week are now well known: the staggering $692 million in total proceeds, the astonishing $142 million for the Bacon triptych, and massive numbers for Koons and Warhol ($58 million and $57 million respectively). Photographically, the sales performed very well, finding plenty of buyers willing to pay full price (a Cindy Sherman centerfold topped $2 million) but without the fanfare of big name world records. The overall Buy-In rate for photography was under 10% and the Total Sale Proceeds came in a hair under the pre sale aggregate High estimate.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 36 |
| Aggregate Pre Sale Low Estimate | $6943000 |
| Aggregate Pre Sale High Estimate | $10237000 |
| Total Lots Sold | 33 |
| Total Lots Bought In | 3 |
| Buy In % | 8.33% |
| Total Sale Proceeds | $10175000 |
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 | NA |
| Total Low Lots Bought In | NA |
| Low Buy In % | NA |
| Aggregate High Estimate of Low Lots | $0 |
| Total Proceeds from Low Lots | NA |
| Mid Total Lots | 13 |
| Total Mid Lots Sold | 12 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 7.69% |
| Aggregate High Estimate of Mid Lots | $427000 |
| Total Proceeds from Mid Lots | $435000 |
| Total High Lots | 23 |
| Total High Lots Sold | 21 |
| Total High Lots Bought In | 2 |
| High Buy In % | 8.70% |
| Aggregate High Estimate of High Lots | $9810000 |
| Total Proceeds from High Lots | $9740000 |
The top lot by High estimate was lot 24, Gilbert & George, Red Morning (Hate), 1977, estimated at $1500000-2500000; it sold for $1805000. The top outcome of the sale was lot 10, Cindy Sherman, Untitled #92, 1981, estimated at $900000-1200000, sold at $2045000.
96.97% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 photographic surprises in the three sales (defined as having proceeds of at least double the high estimate):
Lot 113, Ed Ruscha, Gasoline Stations, 1962/1989, estimated at $60000-80000,sold at $179000 (image above, left, via Christie’s)
Lot 450, Richard Prince, Untitled (Cowboy), 1980-1984, estimated at $80000-120000, sold at $257000 (image above, right, via Christie’s)
Complete lot by lot results can be found Evening (here), Morning (here) and Afternoon (here).
