The photography included in Christie’s Post-War and Contemporary Art sales in New York last week performed respectably. While there were only 2 positive surprises, the overall Buy-In rate for photography hovered near 20%, leading to Total Sale Proceeds that fell in the middle of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 23 |
| Aggregate Pre Sale Low Estimate | $2640000 |
| Aggregate Pre Sale High Estimate | $3840000 |
| Total Lots Sold | 18 |
| Total Lots Bought In | 5 |
| Buy In % | 21.74% |
| Total Sale Proceeds | $2925250 |
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 | 1 |
| Total Mid Lots Sold | 0 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 100.00% |
| Aggregate High Estimate of Mid Lots | $40000 |
| Total Proceeds from Mid Lots | $0 |
| Total High Lots | 22 |
| Total High Lots Sold | 18 |
| Total High Lots Bought In | 4 |
| High Buy In % | 18.18% |
| Aggregate High Estimate of High Lots | $3800000 |
| Total Proceeds from High Lots | $2925250 |
The top photography lot by High estimate was lot 911, Cindy Sherman, Untitled #85, 1981, estimated at $400000-600000 (image in preview post). It was also the top photography outcome of the sales at $396500.
83.33% of the 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):
Lot 835, Anselm Kiefer, Blutblume, 2001, estimated at $100000-150000, sold at $348500
Lot 872, Ed Ruscha, Gasoline Stations, 1962/1989, estimated at $60000-80000, sold at $200000
The complete lot by lot results can be found here (Evening), here (Morning), and here (Afternoon).
