Auction Results: Post-War to Present, September 27, 2018 @Christie’s

A Richard Prince cowboy print did all the photographic heavy lifting at Christie’s recent Post-War to Present sale in New York. The rest of the photographic outcomes were underwhelming, with the Total Sale Proceeds for photography coming in just above 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 14
Aggregate Pre Sale Low Estimate $948000
Aggregate Pre Sale High Estimate $1303000
Total Lots Sold 11
Total Lots Bought In 3
Buy In % 21.43%
Total Sale Proceeds $962875

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 $5000
Total Proceeds from Low Lots $6000
Mid Total Lots 8
Total Mid Lots Sold 6
Total Mid Lots Bought In 2
Mid Buy In % 25.00%
Aggregate High Estimate of Mid Lots $188000
Total Proceeds from Mid Lots $124375
Total High Lots 5
Total High Lots Sold 4
Total High Lots Bought In 1
High Buy In % 20.00%
Aggregate High Estimate of High Lots $1110000
Total Proceeds from High Lots $832500

The top photographic lot by High estimate was lot 262, Richard Prince, Untitled (Cowboy), 1999, estimated at $600000-800000. It was also the top photographic outcome of the sale at $642500 (image above, via Christie’s).

Only 63.64% 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.

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