The photography results from the recent Post-War to Present sale at Christie’s in New York were lackluster. The top lot Thomas Struth museum image failed to sell, pushing a pair of Richard Prince Instagram portraits to the forefront. When the dust settled, the Total Sale Proceeds for photography (of just over $200K) 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 | 9 |
| Aggregate Pre Sale Low Estimate | $338000 |
| Aggregate Pre Sale High Estimate | $480000 |
| Total Lots Sold | 6 |
| Total Lots Bought In | 3 |
| Buy In % | 33.33% |
| Total Sale Proceeds | $202104 |
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 | 4 |
| Total Mid Lots Sold | 2 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 50.00% |
| Aggregate High Estimate of Mid Lots | $90000 |
| Total Proceeds from Mid Lots | $39060 |
| 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 | $390000 |
| Total Proceeds from High Lots | $163044 |
The top photography lot by High estimate was lot 389, Thomas Struth, Museo del Prado 6, Madrid, 2005/2007, estimated at $80000-120000; it did not sell. The top photography outcome in the sale was lot 395, Richard Prince, Untitled (Portrait), 2014, estimated at $50000-70000, sold at $65520 (image above, via Christie’s.)
Just 50% 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.
Informative review on the RIchard Prince portrait series here – https://collectordaily.com/richard-prince-new-portraits-gagosian/