Auction Results: Post-War to Present, March 13, 2024 @Christie’s

The results for the photography included in the recent Post-War to Present sale at Christie’s in New York were largely uneventful. The top lots (from Richard Prince, Cindy Sherman, and John Baldessari) didn’t provide much in the way of unexpected excitement, and aside from a positive surprise from Vik Muniz, the news was generally muted. The overall Buy-In rate came in at a third (33.33%), with one additional withdrawal, leading to Total Sale Proceeds for photography (of just over $770K) that came in 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 21
Aggregate Pre Sale Low Estimate $898000
Aggregate Pre Sale High Estimate $1339000
Total Lots Sold 14
Total Lots Bought In 7
Buy In % 33.33%
Total Sale Proceeds $772380

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

Detailed Breakdown
Low Total Lots 1
Total Low Lots Sold 1
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots $7000
Total Proceeds from Low Lots $8820
Mid Total Lots 9
Total Mid Lots Sold 4
Total Mid Lots Bought In 5
Mid Buy In % 55.56%
Aggregate High Estimate of Mid Lots $292000
Total Proceeds from Mid Lots $262080
Total High Lots 11
Total High Lots Sold 9
Total High Lots Bought In 2
High Buy In % 18.18%
Aggregate High Estimate of High Lots $1040000
Total Proceeds from High Lots $501480

The top photography lot by High estimate was tied between three lots, each estimated at $100000-150000: lot 349, Richard Prince, Untitled (three men’s hands with watches), 1980, lot 351, Cindy Sherman, Untitled Film Still #59, 1980, and lot 357, John Baldessari, Life’s Balance (With Perspective), 1987; the Prince lot sold at $88200, the Sherman lot failed to sell, and the Baldessari lot sold at $100800, but none was the top photography outcome of the sale. That honor went to lot 428, Vik Muniz, Two Flags, after Jasper Johns, Repro, 2021, estimated at $30000-50000, sold at $151200 (image above, via Christie’s.)

71.43% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Christie’s):

Lot 428, Vik Muniz, Two Flags, after Jasper Johns, Repro, 2021, estimated at $30000-50000, sold at $151200

The complete lot by lot results can be found here.

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