Tuesday, March 13, 2012

Auction Results: Photographic Masterworks by William Eggleston Sold to Benefit the Eggleston Artistic Trust, March 12, 2012 @Christie's

As expected, the results of the Eggleston sale last night at Christie's were tremendously positive. It was a white glove sale (all the lots found buyers), and the Total Sale Proceeds topped the high end of the estimate range by more than $2.5M.

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

Total Lots: 36
Pre Sale Low Total Estimate: $2230000
Pre Sale High Total Estimate: $3350000
Total Lots Sold: 36
Total Lots Bought In: 0
Buy In %: 0.00%
Total Sale Proceeds: $5903250

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: NA
Total Low Sold: NA

Mid Total Lots: 7
Mid Sold: 7
Mid Bought In: 0
Buy In %: 0.00%
Total Mid Estimate: $350000
Total Mid Sold: $367750

High Total Lots: 29
High Sold: 29
High Bought In: 0
Buy In %: 0.00%
Total High Estimate: $3000000
Total High Sold: $5535500

The top photography lot by High estimate was lot 24, William Eggleston, Untitled, 1970, at $200000-300000. (This is the tricycle.) It was also the top outcome of the sale at $578500, apparently a new record for a single Eggleston image.

97.22% of the lots that sold had proceeds in or above the estimate range. There were 6 lots that had proceeds of at least double the high estimate, and 2 more which had proceeds of at least triple the high estimate (the drink on the airplane tray table and the blue convertible on the cover of the catalogue).

Complete lot by lot results can be found here.

20 Rockefeller Plaza
New York, NY 10020

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