The most exciting photographic data point coming from Christie’s recent Post-War and Contemporary Art sale in New York was a non-event – the withdrawal of the top photo lot, an Andreas Gursky image from his series made in Pyongyang. With that work stripped out, the results were rather forgettable, with a few positive surprises helping to push the Total Sale Proceeds toward the bottom end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 46 |
| Aggregate Pre Sale Low Estimate | $1252000 |
| Aggregate Pre Sale High Estimate | $1839500 |
| Total Lots Sold | 31 |
| Total Lots Bought In | 15 |
| Buy In % | 32.61% |
| Total Sale Proceeds | $1221875 |
Here is the breakdown (using our usual Low, Mid, and High price tier definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 14 |
| Total Low Lots Sold | 11 |
| Total Low Lots Bought In | 3 |
| Low Buy In % | 21.43% |
| Aggregate High Estimate of Low Lots | $80500 |
| Total Proceeds from Low Lots | $95625 |
| Mid Total Lots | 21 |
| Total Mid Lots Sold | 13 |
| Total Mid Lots Bought In | 8 |
| Mid Buy In % | 38.10% |
| Aggregate High Estimate of Mid Lots | $559000 |
| Total Proceeds from Mid Lots | $441250 |
| Total High Lots | 11 |
| Total High Lots Sold | 10 |
| Total High Lots Bought In | 1 |
| High Buy In % | 9.09% |
| Aggregate High Estimate of High Lots | $1350000 |
| Total Proceeds from High Lots | $685000 |
The top photographic lot by High estimate was lot 271, Andreas Gursky, Pyongyang III, 2007, estimated at $600000-800000; it was withdrawn (its estimates/proceeds have been removed from the statistical analysis). The top photographic outcome of the sale was lot 220, Cindy Sherman, Untitled #411, 2003, estimated at $100000-150000, sold at $162500 (image above, via Christie’s).
93.55% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):
Lot 238, Louise Lawler, Monogram, 1984-1999, estimated at $2000-3000, sold at $32500
Lot 239, Sarah Charlesworth, Teacups, 2002, estimated at $1000-1500, sold at $4000
Lot 240, Sarah Charlesworth, Toile, 2004, estimated at $3000-5000, sold at $11875
Lot 365, Marina Abramovic, The Kitchen V, Carrying the Milk, 2009, estimated at $8000-12000, sold at $65000
The complete lot by lot results can be found here.
