Thursday, November 18, 2010

Auction Results: Post-War and Contemporary Art, Evening, Morning, and Afternoon Sales, November 10 and 11, 2010 @Christie's

It has to feel pretty good for the specialist team when the photography lots in a set of Contemporary Art auctions top their Total High Estimate by nearly $2 million dollars. This is exactly what occurred at the frothy sales at Christie's last week, when more than 75% of the lots that sold came in above their estimate range. All 4 of the Cindy Sherman lots on offer more than doubled their high estimates, as did all 3 lots from Vik Muniz.

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

Total Lots: 35
Pre Sale Low Total Estimate: $2858000
Pre Sale High Total Estimate: $4030000
Total Lots Sold: 29
Total Lots Bought In: 6
Buy In %: 17.14%
Total Sale Proceeds: $5926500

Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 0
Low Sold: NA
Low Bought In: NA
Buy In %: NA
Total Low Estimate: $0
Total Low Sold: NA

Mid Total Lots: 17
Mid Sold: 13
Mid Bought In: 4
Buy In %: 23.53%
Total Mid Estimate: $540000
Total Mid Sold: $688500

High Total Lots: 18
High Sold: 16
High Bought In: 2
Buy In %: 11.11%
Total High Estimate: $3490000
Total High Sold: $5238000

The top photography lot by High estimate was lot 58, Cindy Sherman, Untitled (#88), 1981, at $400000-600000; it was also the top outcome of the sale at $1426500.

96.55% of the lots that sold had proceeds in or above the estimate range. There were a total of 10 surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 58, Cindy Sherman, Untitled (#88), 1981, at $1426500
Lot 101, Man Ray, Le Violon d'Ingres (Kiki of Montparnasse), 1924/Later, at $128500
Lot 395, Cindy Sherman, Untitled Film Still (#32), 1979, at $722500 (image at right, top, via Christie's)
Lot 398, Louise Lawler, Alligator, 1982, at $92500
Lot 399, Cindy Sherman, Untitled #98, 1982, at $602500 (image at right, middle, via Christie's)
Lot 422, Vik Muniz, Waterlilies, After Monet (Pictures of Magazines), 2005, at $254500
Lot 423, Doug Aitken, West, 2008, at $326500
Lot 426, Cindy Sherman, Untitled Film Still (#17), 1978, at $218500 (image at right, bottom, via Christie's)
Lot 455, Vik Muniz, Flag, After Jasper Johns (Pictures of Pigment), 2007, at $134500
Lot 459, Vik Muniz, Still, After Cindy Sherman (Pictures of Ink), 2000, at $56250

Complete lot by lot results can be found here (Evening), here (Morning) and here (Afternoon).

20 Rockefeller Plaza
New York, NY 10020

No comments: