Auction Results: Post-War and Contemporary Art Evening, Morning, and Afternoon Sales, November 13 and 14, 2019 @Christie’s

With no photography lots in the Evening or Morning sessions at Christie’s Post-War and Contemporary Art sales in New York last week, the photography included in the sales was found only in the Afternoon slot, and the results for those photographs generally met expectations. The top photo lot Cindy Sherman film still sold above its estimate range, and the overall Buy-In rate for photography came in just over 15%, but there were no positive surprises to provide a jolt. In the end, the Total Sale Proceeds for photography (of roughly $1.5M) came in near the midpoint of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 13
Aggregate Pre Sale Low Estimate $1280000
Aggregate Pre Sale High Estimate $1910000
Total Lots Sold 11
Total Lots Bought In 2
Buy In % 15.38%
Total Sale Proceeds $1529000

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

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 $0
Mid Total Lots 2
Total Mid Lots Sold 2
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots $60000
Total Proceeds from Mid Lots $55000
Total High Lots 11
Total High Lots Sold 9
Total High Lots Bought In 2
High Buy In % 18.18%
Aggregate High Estimate of High Lots $1850000
Total Proceeds from High Lots $1474000

The top photography lot by High estimate was lot 921, Cindy Sherman, Untitled Film Still #46, 1979, estimated at $300000-500000. It was also the top photography outcome of the sales at $399000 (image above, via Christie’s).

72.73% 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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