Auction Results: Post-War to Present, February 28, 2019 @Christie’s

The photography results at Christie’s recent Post-War to Present sale in New York were decidedly discouraging. The top lot Richard Prince print did find a buyer, but with a Buy-In rate for photography over 60% and no positive surprises, it’s no wonder that the Total Sale Proceeds came in well below the low end of the aggregate pre-sale estimate.

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

Summary Statistics
Total Lots 11
Pre Sale Low Total Estimate $505000
Pre Sale High Total Estimate $740000
Total Lots Sold 4
Total Lots Bought In 7
Buy In % 63.64%
Total Sale Proceeds $221250

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 5
Mid Sold 1
Mid Bought In 4
Mid Buy In % 80.00%
Total Mid Estimate $170000
Total Mid Sold $15000
Total High Lots 6
High Sold 3
High Bought In 3
High Buy In % 50.00%
Total High Estimate $570000
Total High Sold $206250

The top photographic lot by High estimate was lot 241, Richard Prince, Untitled (Labels), 1977, estimated at $120000-180000. It was also the top photographic outcome of the sale at $125000 (image above, via Christie’s).

75.00% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sale (defined as having proceeds of at least double the high estimate).

The complete lot by lot results can be found here.

Richard Prince, Christie's

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