Auction Results: Post War and Contemporary Art Evening, Morning, and Afternoon Sales, November 15 and 16, 2018 @Christie’s

With no photography lots in the Evening sale and the top lot Andreas  Gursky print withdrawn, it would be logical to assume that the photography results at Christie’s recent Post-War and Contemporary Art sales in new York would be muted. But even with the photography lots relegated to the Afternoon sale, they still performed respectably. While the overall Buy-In rate for photography topped 35%, the Total Sale Proceeds for photography came in near the top end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 11
Pre Sale Low Total Estimate $1140000
Pre Sale High Total Estimate $1655000
Total Lots Sold 7
Total Lots Bought In 4
Buy In % 36.36%
Total Sale Proceeds $1466500

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

Detailed Breakdown
Low Total Lots 0
Low Sold NA
Low Bought In NA
Low Buy In % NA
Total Low Estimate $0
Total Low Sold $0
Mid Total Lots 4
Mid Sold 2
Mid Bought In 2
Mid Buy In % 50.00%
Total Mid Estimate $95000
Total Mid Sold $52500
Total High Lots 7
High Sold 5
High Bought In 2
High Buy In % 28.57%
Total High Estimate $1560000
Total High Sold $1414000

The top photography lot by High estimate was lot 843, Barbara Kruger, Untitled (What you see is what you get), 1996, estimated at $250000-350000. It was also the top photography outcome of the sales at $456500 (image above, via Christie’s).

100.00% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate) (image above, via Christie’s):

Lot 902, Gabriel Orozco, Atomists: Ascension, 1996, estimated at $60000-80000, sold at $187500

The complete lot by lot results can be found here (Evening), here (Morning), and here (Afternoon).

Barbara Kruger, Gabriel Orozco, Christie's

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