With the top photography lot Andreas Gursky print and another high priced John Baldessari work both failing to sell, it was tough sledding for the photography at the recent Post-War to Present sale at Christie’s in New York. Ultimately a rear projection Cindy Sherman image from 1980 took the top photo lot honors, but with a Buy-In rate for photography near 45% and no positive surprises to balance the action, it will come as no surprise that the Total Sale Proceeds for photography (of roughly $315K) came in far 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 | 9 |
| Aggregate Pre Sale Low Estimate | $578000 |
| Aggregate Pre Sale High Estimate | $855000 |
| Total Lots Sold | 5 |
| Total Lots Bought In | 4 |
| Buy In % | 44.44% |
| Total Sale Proceeds | $317500 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 0 |
| Total Low Lots Sold | NA |
| Total Low Lots Bought In | NA |
| Low Buy In % | NA |
| Aggregate High Estimate of Low Lots | $0 |
| Total Proceeds from Low Lots | $0 |
| Mid Total Lots | 6 |
| Total Mid Lots Sold | 4 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 33.33% |
| Aggregate High Estimate of Mid Lots | $195000 |
| Total Proceeds from Mid Lots | $117500 |
| 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 | $660000 |
| Total Proceeds from High Lots | $200000 |
The top photography lot by High estimate was lot 123, Andreas Gursky, PCF, Paris, 2003, estimated at $200000-300000; it did not sell. The top photography outcome of the sale was lot 53, Cindy Sherman, Untitled #76, 1980, estimated at $12000-180000, sold at $275000 (image above, via Christie’s.)
80.00% 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.
