Auction Results: Post-War and Contemporary Art Evening, Morning, and Afternoon Sales, November 15 and 16, 2017 @Christie’s

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
Pre Sale Low Total Estimate $2640000
Pre Sale High Total 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
Low Sold NA
Low Bought In NA
Low Buy In % NA
Total Low Estimate $0
Total Low Sold NA
Mid Total Lots 1
Mid Sold 0
Mid Bought In 1
Mid Buy In % 100.00%
Total Mid Estimate $40000
Total Mid Sold $0
Total High Lots 22
High Sold 18
High Bought In 4
High Buy In % 18.18%
Total High Estimate $3800000
Total High Sold $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).

Read more about: Anselm Kiefer, Cindy Sherman, Ed Ruscha, Christie's

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