Auction Results: Post-War to Present and Post-War to Present Online, June 27 and July 1, 2024 @Christie’s London

Softness in the higher priced lots muted the overall photographic outcome of the Post-War to Present and Post-War to Present Online sales at Christie’s in London last week. While the overall Buy-In rate for photography came in just above 15%, all of the passes occurred in the middle or high price tiers, so even with a few positive surprises, the Total Sales Proceeds for photography (of roughly £235K) still fell below the low end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 26
Aggregate Pre Sale Low Estimate £295200
Aggregate Pre Sale High Estimate £451800
Total Lots Sold 22
Total Lots Bought In 4
Buy In % 15.38%
Total Sale Proceeds £237636

Here is the breakdown (using our usual Low, Mid, and High price tier definitions):

Detailed Breakdown
Low Total Lots 16
Total Low Lots Sold 16
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots £55800
Total Proceeds from Low Lots £99036
Mid Total Lots 7
Total Mid Lots Sold 5
Total Mid Lots Bought In 2
Mid Buy In % 28.57%
Aggregate High Estimate of Mid Lots £146000
Total Proceeds from Mid Lots £100800
Total High Lots 3
Total High Lots Sold 1
Total High Lots Bought In 2
High Buy In % 66.67%
Aggregate High Estimate of High Lots £250000
Total Proceeds from High Lots £37800

The top photography lot by High estimate was lot 116, Anselm Kiefer, Waterloo Bridge, 2004, estimated at £100000-150000; it did not sell. The top photography outcome of the sale fell to lot 61, Gerhard Richter, Ella, 2014, estimated at £30000-50000, sold at £37800 (image above, via Christie’s).

72.73% of the photo lots that sold had proceeds in or above the estimate range and there were 3 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 24, Wolfgang Tillmans, Lutz, sidewalk, 1993/1996, estimated at £4000-6000, sold at £13860

Lot 25, Wolfgang Tillmans, Anemone, 2003, estimated at £3000-5000, sold at £35280

Lot 26, Francesca Woodman, Polka Dot No #5, Providence, Rhode Island, 1976/posthumous 2007, estimated at £3000-5000, sold at £15120

Complete lot by lot results can be found here (Post-War to Present) and here (Post-War to Present Online).

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Read more about: Francesca Woodman, Gerhard Richter, Wolfgang Tillmans, Christie's

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