Auction Results: Post-War and Contemporary Art Evening and Day Auctions, June 25 and 26, 2013 @Christie's London

The results for the photography included in Christie's Post-War and Contemporary Art Evening and Day sales in London last week were driven down by the failure of the two top photo lots to find buyers. With an overall Buy-In rate under 14%, we might have expected the Total Sale Proceeds to cover the top end of the range; as it was, they fell meaningfully below the low end.

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

Total Lots: 22
Pre Sale Low Total Estimate: £734000
Pre Sale High Total Estimate: £1068000
Total Lots Sold: 19
Total Lots Bought In: 3
Buy In %: 13.64%
Total Sale Proceeds: £552500

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

Low Total Lots: 1
Low Sold: 1
Low Bought In: 0
Buy In %: 0.00%
Total Low Estimate: £5000
Total Low Sold: £9375

Mid Total Lots: 14
Mid Sold: 13
Mid Bought In: 1
Buy In %: 7.14%
Total Mid Estimate: £218000
Total Mid Sold: £216125

High Total Lots: 7
High Sold: 5
High Bought In: 2
Buy In %: 28.57%
Total High Estimate: £845000
Total High Sold: £327000

The top lot by High estimate was lot 21, Barbara Kruger, Untitled (Our prices are insane!), 1997, at £200000-300000; it did not sell. The top photography outcome of the two sales was lot 251, Barbara Kruger, Untitled (Your life is a perpetual insomnia!), 1984, estimated at £60000-80000, sold at £127875 (image at right, top, via Christie's).

89.47% of the lots that sold had proceeds in or above their estimate. There was only one surprise in these sales (defined as having proceeds of at least double the high estimate):

Lot 285, Andreas Gursky, Gelsenkirchen, Ratingen, Moers, 1988, estimated at £8000-12000, sold at £27500 (image at right, bottom, via Christie's)

Complete lot by lot results can be found here (Evening) and here (Day).

Christie's
8 King Street, St. James's
London SW1Y 6QT

Auctions: Post-War and Contemporary Art Evening and Day Auctions, June 25 and 26, 2013 @Christie's London

As the heat descends on New York, the auction action moves to London, where Christie's starts off a pre-summer Contemporary Art run with its Post-War and Contemporary Art Evening and Day sales later this week. Photography-wise, it's a pretty thin offering, with not much to distract collectors from the warm weather. Overall, there are 22 photography lots available across the two sales, with a Total High Estimate for photography of £1068000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including £5000): 1
Total Low Estimate (sum of high estimates of Low lots): £5000

Total Mid Lots (high estimate between £5000 and £25000): 14
Total Mid Estimate: £218000

Total High Lots (high estimate above £25000): 7
Total High Estimate: £845000

The top lot by High estimate is lot 21, Barbara Kruger, Untitled (Our prices are insane!), 1997, at £200000-300000. (Image at right, top, via Christie's.)

Here is the very short list of photographers who are represented by two or more lots in the two sales (with the number of lots in parentheses):

Barbara Kruger (3)
Hiroshi Sugimoto (2)

Other lots of interest include lot 247, Matthew Day Jackson, Me, Dead at 35, 2009, at £18000-22000 (image at right, middle) and lot 348, Edward Burtynsky, Oil Spill No. 4, Oil Skimming Boat, Near Ground Zero, Gulf of Mexico, 2010, at £12000-18000 (image at right, bottom, both via Christie's.)

The complete lot by lot catalogs can be found here (Evening) and here (Day).

Post-War and Contemporary Art Evening Auction
June 25th

Post-War and Contemporary Art Day Auction
June 26th

Christie's
8 King Street, St. James's
London SW1Y 6QT

Auction Results: Post-War and Contemporary Art Evening, Morning, and Afternoon Sales, May 15 and 16, 2013 @Christie's New York

While Christie's was busy setting auction records and selling nearly half a billion dollars worth of Contemporary Art in the evening sale alone last week, the photography buried in its three sales didn't offer any particular lightning strikes or frothy exuberance. Of the just under $600 million in sales across the three sessions, a little less than $6.5 million came from photography, or a fraction more than 1% of the total proceeds. From the vantage point of the photography on offer, the overall Buy-In rate was just under 30% and the Total Sale Proceeds fell in the middle of the range, a generally predictable result all things considered.

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

Total Lots: 57
Pre Sale Low Total Estimate: $5178000
Pre Sale High Total Estimate: $7340000
Total Lots Sold: 40
Total Lots Bought In: 17
Buy In %: 29.82%
Total Sale Proceeds: $6440750

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: 28
Mid Sold: 20
Mid Bought In: 8
Buy In %: 28.57%
Total Mid Estimate: $900000
Total Mid Sold: $730000

High Total Lots: 29
High Sold: 20
High Bought In: 9
Buy In %: 31.03%
Total High Estimate: $6440000
Total High Sold: $5710750

The top photography lot by High estimate was lot 3, Andreas Gursky, Klitschko, 1999, estimated at $800000-1000000; it was also the top outcome of the sales at $1323750.

90.00% of the lots that sold had proceeds in or above the estimate range and there were a total of only two surprises (defined as having proceeds of at least double the high estimate):

Lot 424, Rodney Graham, Can of Worms, 2000, estimated at $15000-20000, sold at $47500 (image at right, bottom, via Christie's)
Lot 487, Cindy Sherman, Untitled Film Still #54, 1980, estimated at $250000-350000, sold at $723750 (image at right, top, via Christie's)

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

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction Results: Photographs, May 15, 2013 @Christie's London

The parade of Peter Beard prints in Christie's recent various owner Photographs sale in London held up well, pushing the Total Sale Proceeds for the auction solidly into the middle of the pre-sale estimate range. With an overall Buy-In rate under 30% and a number of positive surprises, the sale easily met expectations.

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

Total Lots: 108
Pre Sale Low Total Estimate: £1159000
Pre Sale High Total Estimate: £1678000
Total Lots Sold: 76
Total Lots Bought In: 32
Buy In %: 29.63%
Total Sale Proceeds: £1485375

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

Low Total Lots: 13
Low Sold: 11
Low Bought In: 2
Buy In %: 15.38%
Total Low Estimate: £51000
Total Low Sold: £65125

Mid Total Lots: 75
Mid Sold: 52
Mid Bought In: 23
Buy In %: 30.67%
Total Mid Estimate: £827000
Total Mid Sold: £722900

High Total Lots: 20
High Sold: 13
High Bought In: 7
Buy In %: 35.00%
Total High Estimate: £800000
Total High Sold: £697350

The top lot by High estimate was lot 19, Peter Beard, Giraffes in mirage on the Taru Desert, Kenya for the End of the Game, June 1960, 1960/1997, at £50000-70000; it sold for £85875. The top outcome of the sale was lot 25, Peter Beard, Tsavo National Park, founded April Fool's Day, 1948, 1968/1997, estimated at £40000-60000, sold at £103875.

97.37% of the lots that sold had proceeds in or above their estimate. There were a total of nine surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 1, Louise Dahl-Wolfe, Nude on beach, California, 1948/1988, estimated at £5000-7000, sold at £16250
Lot 2, Javier Vallhonrat, Inner edge, the Possessed Space, 1991, estimated at £2000-3000, sold at £10000
Lot 8, Helmut Newton, Henrietta, beginning of the Big Nudes, Vogue Studio, Paris, 1981, estimated at £6000-8000, sold at £22500
Lot 15, Horst P. Horst, Narcissus, O.B., N.Y., 1992, estimated at £8000-12000, sold at £27500
Lot 30, Andy Warhol, Self-portrait, 1986, estimated at £10000-15000, sold at £30000 (image at right, bottom, via Christie's)
Lot 43, Josef Koudelka, Spain, 1979/later, estimated at £4000-6000, sold at £14375 (image at right, middle, via Christie's)
Lot 78, Francesca Woodman, Untitled, Providence, Rhode Island, 1977/2008, estimated at £3000-5000, sold at £13750
Lot 89, Nick Brandt, Elephant group on bare earth, Amboseli, 2008, estimated at £15000-20000, sold at £55875
Lot 93, Marcus Lyon, Exodus VI, West Lamma Channel, South China Sea, 2011, estimated at £5000-7000, sold at 5£2275 (image at right, top, via Christie's)

Complete lot by lot results can be found here.

Christie's
8 King Street, St. James's
London SW1Y 6QT

Auctions: Post-War and Contemporary Art Evening, Morning, and Afternoon Sales, May 15 and 16, 2013 @Christie's New York

Christie's bats second in the Spring Contemporary Art season, with a series of three sales next week. Gursky, Sherman, Prince, Wall, and Baldessari hold the top slots. Overall, there are a total of 57 lots of photography available in the three sales, with a Total High Estimate for photography of $7340000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 0
Total Low Estimate (sum of high estimates of Low lots): $0

Total Mid Lots (high estimate between $10000 and $50000): 28
Total Mid Estimate: $900000

Total High Lots (high estimate above $50000): 29
Total High Estimate: $6440000

The top photography lot by High estimate is lot 3, Andreas Gursky, Klitschko, 1999, estimated at $800000-1000000 (image at right, top, via Christie's.)

Here's the complete list of photographers represented by three or more lots in the sales (with the number of lots in parentheses):

Cindy Sherman (7)
Vik Muniz (6)
Louise Lawler (4)
Barbara Kruger (3)
Richard Prince (3)
Thomas Struth (3)

Other photographs of interest include lot 236, Gerhard Richter, Untitled, 1992, estimated at $35000-45000 (image at right, middle, via Christie's) and lot 406, Rodney Graham, Welsh Oak #1-7, 1998, estimated at $90000-150000 (image at right, bottom, via Christie's).

The complete lot by lot catalogs can be found here (Evening), here (Morning), and here (Afternoon).

Post-War and Contemporary Art (Evening)
May 15th

Post-War and Contemporary Art (Morning)
May 16th

Post-War and Contemporary Art (Afternoon)
May 16th

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction: Photographs, May 15, 2013 @Christie's London

Christie's upcoming Photographs sale in London is led by a large group of works by Peter Beard, most commissioned for the Nord Pinus Hotel in Arles in the late 1990s. Overall, there are a total of 108 photographs on offer, with a Total High Estimate of £1678000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including £5000): 13
Total Low Estimate (sum of high estimates of Low lots): £51000

Total Mid Lots (high estimate between £5000 and £25000): 75
Total Mid Estimate: £827000

Total High Lots (high estimate above £25000): 20
Total High Estimate: £800000

The top lot by High estimate is lot 19, Peter Beard, Giraffes in mirage on the Taru Desert, Kenya for the End of the Game, June 1960, 1960/1997, at £50000-70000. (Image at right, top, via Christie's.)

Here is the list of photographers who are represented by four or more lots in the sale (with the number of lots in parentheses):

Peter Beard (17)
Helmut Newton (12)
Horst P. Horst (9)
Henri Cartier-Bresson (7)
Jacques-Henri Lartigue (5)
Andy Warhol (5)
David LaChapelle (4)
Herb Ritts (4)
Albert Watson (4)

Other lots of interest include lot 72, Albert Watson, Michael Jackson, New York City, 1998/later, at £12000-18000 (image at right, middle) and lot 83, Helmut Newton, Patti Hansen & Winnie Holman for Xavier Coiffures, New York, 1976, at £2000-3000 (image at right, bottom, both via Christie's.)

The complete lot by lot catalog can be found here.

Photographs
May 15th

Christie's
8 King Street, St. James's
London SW1Y 6QT

Auction Results: Photographs, April 5, 2013 @Christie's New York

Christie's various owner Photographs sale blew past its pre-sale aggregate High estimate, bringing in an extra $700K in proceeds for good measure. To complete the broad-based success, the overall Buy-In rate was low (just over 15%) and there were lots of positive surprises.

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

Total Lots: 204
Pre Sale Low Total Estimate: $4303000
Pre Sale High Total Estimate: $6512000
Total Lots Sold: 172
Total Lots Bought In: 32
Buy In %: 15.69%
Total Sale Proceeds: $7245375

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

Low Total Lots: 43
Low Sold: 35
Low Bought In: 8
Buy In %: 18.60%
Total Low Estimate: $333000
Total Low Sold: $343250


Mid Total Lots: 140
Mid Sold: 119
Mid Bought In: 21
Buy In %: 15.00%
Total Mid Estimate: $3169000
Total Mid Sold: $3094625

High Total Lots: 21
High Sold: 18
High Bought In: 3
Buy In %: 14.29%
Total High Estimate: $3010000
Total High Sold: $3807500

The top lot by High estimate was lot 251, Robert Frank, Trolley-New Orleans, 1955, estimated at $400000-600000; it was also the top outcome of the sale at $663750

93.02% of the lots that sold had proceeds in or above the estimate range. There were a total of 18 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 104, Hiroshi Sugimoto, UA Playhouse, Great Neck, NY, 1978, estimated at $20000-30000, sold at $62500
Lot 105, Lewis Baltz, Corona del Mar, 1971, estimated at $10000-15000, sold at $30000
Lot 113, Peter Beard, Orphaned Cheetahs, Kenya, from The End of the Game, 1968/later, estimated at $40000-60000, sold at $183750
Lot 114, Irving Penn, Ginko Leaves, New York, 1990/1992, estimated at $80000-120000, sold at $363750 (image at right, middle, via Christie's)
Lot 115, Ansel Adams, Aspens, Northern New Mexico, 1958/1958-1962, estimated at $100000-150000, sold at $423750 (image at right, top, via Christie's)
Lot 126, William Klein, Atom Bomb Sky, New York, 1955/later, estimated at $7000-9000, sold at $20000
Lot 133, Steve McCurry, Afghan Girl, 1984/later, estimated at $4000-6000, sold at $17500
Lot 136, Erwin Blumenfeld, Dictator, Paris, 1937/1940s, estimated at $30000-50000, sold at $111750
Lot 157, Minor White, Two Barns, Dansville, New York, 1955, estimated at $8000-12000, sold at $25000
Lot 165, Edward Weston, Mexico (Tina on the Azotea), 1924, estimated at $100000-150000, sold at $363750
Lot 175, Francesca Woodman, Untitled, Rome, 1977-1978, estimated at $15000-25000, sold at $117750 (image at right, bottom, via Christie's)
Lot 176, Francesca Woodman, Untitled, Providence, RI, 1975-1978, estimated at $20000-30000, sold at $105750
Lot 191, Helmut Newton, Charlotte Rampling, Portrait, Arles, France, 1973/1982, estimated at $20000-30000, sold at $68750
Lot 209, Edward Weston, Charis, 1934, estimated at $8000-12000, sold at $27500
Lot 229, W. Tom Young, Bill with Camera, New Orleans, 1987, estimated at $3000-5000, sold at $12500
Lot 247, William Eggleston, Untitled (Memphis), 1971/1999, estimated at $80000-120000, sold at $279750
Lot 268, Nan Goldin, Cookie at Tin Pan Alley, NYC, 1983, estimated at $4000-6000, sold at $22500
Lot 303, Ansel Adams, Ice on Ellery Lake, Sierra Nevada, California, 1959/1979, estimated at $7000-9000, sold at $25000

Complete lot by lot results can be found here.

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction Results: The Delighted Eye, Modernist Masterworks from a Private Collection @Christie's New York

Led by a new world record price for Man Ray (at $1203750), the proceeds from Christie's single owner Carlos Cruz sale last week easily covered the aggregate High estimate. While the Buy-In rate was likely a bit higher than expected given the quality and rarity of the material on offer, it would be hard not to be satisfied with such a robust overall outcome.

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

Total Lots: 71
Pre Sale Low Total Estimate: $5069000
Pre Sale High Total Estimate: $7564000
Total Lots Sold: 54
Total Lots Bought In: 17
Buy In %: 23.94%
Total Sale Proceeds: $7654125

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

Low Total Lots: 2
Low Sold: 2
Low Bought In: 0
Buy In %: 0.00%
Total Low Estimate: $16000
Total Low Sold: $18750

Mid Total Lots: 32
Mid Sold: 22
Mid Bought In: 10
Buy In %: 31.25%
Total Mid Estimate: $868000
Total Mid Sold: $723125

High Total Lots: 37
High Sold: 30
High Bought In: 7
Buy In %: 18.92%
Total High Estimate: $6680000
Total High Sold: $6912250

The top lot by High estimate was lot 7, Edward Weston, Nude, 1925, estimated at $400000-600000; it sold for $483750. The top outcome of the sale was lot 17, Man Ray, Untitled Rayograph, 1922, estimated at $250000-350000, sold at $1203750 (image at right, top, via Christie's).

88.89% of the lots that sold had proceeds in or above the estimate range. There were a total of 6 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 17, Man Ray, Untitled Rayograph, 1922, estimated at $250000-350000, sold at $1203750
Lot 35, Man Ray, Untitled, Cannes, 1924, estimated at $80000-120000, sold at $387750 (image at right, bottom, via Christie's)
Lot 36, Fortunato Depero, Message with Self Portraits, 1915, estimated at $50000-70000, sold at $159750
Lot 52, Georg Muche, Reflections in a Sphere, 1924, estimated at $15000-25000, sold at $75000
Lot 54, Paul Strand, Akeley Motion Picture Camera, New York, 1922, estimated at $250000-350000, sold at $783750 (image at right, middle, via Christie's)
Lot 58, Ludwig Hirschfeld-Mack, Reflected Light Composition, 1923, estimated at $10000-15000, sold at $46250

Complete lot by lot results can be found here.

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction: Photographs, April 5, 2013 @Christie's New York

Christie's various owner Photographs sale later this week gathers a wide variety of periods and styles into a dense package. There aren't too many surprises to be found here, just plenty of solid work worth a look. Overall, there are a total of 204 lots of photography available in the sale, with a total High estimate of $6512000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 43
Total Low Estimate (sum of high estimates of Low lots): $333000

Total Mid Lots (high estimate between $10000 and $50000): 140
Total Mid Estimate: $3169000

Total High Lots (high estimate above $50000): 21
Total High Estimate: $3010000

The top photography lot by High estimate is lot 251, Robert Frank, Trolley-New Orleans, 1955, estimated at $400000-600000 (image at right, top, via Christie's.)

Here's the complete list of photographers represented by five or more lots in the sale (with the number of lots in parentheses):

Ansel Adams (21) Irving Penn (16) Edward Weston (10) Henri Cartier-Bresson (8) William Eggleston (8) Hiroshi Sugimoto (8) Harry Callahan (6) Eugene Smith (6) Diane Arbus (5) Brassai (5) Robert Frank (5) Jacques-Henri Lartigue (5)

Other photographs of interest include lot 228, William Eggleston, Greenwood, Mississippi, 1973/1976, estimated at $150000-250000 (image at right, middle, via Christie's) and lot 165, Edward Weston, Mexico (Tina on the Azotea), 1924, estimated at $100000-150000 (image at right, bottom, via Christie's).

The complete lot by lot catalog can be found here.

Photographs
April 5th

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction: The Delighted Eye, Modernist Masterworks from a Private Collection @Christie's New York

I have never met Carlos Cruz, but having pored over the catalog of his breathtaking single owner sale coming up at Christie's next week, I have a deep respect and affinity for his underlying process as a collector. I have never been a particular convert to the spontaneous "buy what you love" school of photography collecting, so Cruz' methodical, systematic, patient approach to building his collection resonates fully with my structured brain. While serendipity and lucky hunting are certainly part of the game of collecting, I could only nod my head in agreement with the description of Cruz' activities in the front of the catalog: a rigorous study and pre-visualization of what he was looking for, a thoughtful logic and intellectual framework, a bounded period of time (roughly late 19th century to 1925), an emphasis on single, high quality examples, and a tireless adherence to this regimen. The fact that he was able to build this collection at a distance from the major art capitals (from Santiago, Chile) makes its breadth and quality all the more remarkable.

Nearly every single work in this catalog is a subtle wow moment of one kind or another; there is very little, if any, chaff in this bundle of exceptional Modernist/Futurist/Dada wheat. Perhaps what I like best is the sense of individuality in this collection, of not picking the best known or most highly regarded image by any of the masters in this parade, but of looking hard and long enough to uncover the gems that truly represent a photographer's particular innovation or originality. There are great, unexpected choices everywhere: a great Rossler abstraction, an elegant Sudek broken dish, a tactile textured sheet by Modotti, the looming De Meyer chrysanthemums, the layered Funke bottle shadows, all extraordinary but less than obvious. Overall, there are a total of 71 lots of photography available in the sale, with a total High estimate of $7564000. I'm very much looking forward to the preview.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 2
Total Low Estimate (sum of high estimates of Low lots): $16000

Total Mid Lots (high estimate between $10000 and $50000): 32
Total Mid Estimate: $868000

Total High Lots (high estimate above $50000): 37
Total High Estimate: $6680000

The top photography lot by High estimate is lot 7, Edward Weston, Nude, 1925, estimated at $400000-600000 (image at right, top, via Christie's.)

Here's the complete list of photographers represented by two or more lots in the sale (with the number of lots in parentheses):

Man Ray (4)
Edward Steichen (4)
Eugene Atget (2)
Anton Bruehl (2)
Etienne-Jules Marey (2)
Laszlo Moholy-Nagy (2)
Alfred Stieglitz (2)

In an astonishing sale like this, it's nearly impossible to single out just a few lots that are of particular interest. That said, here are two that had me shaking my head with amazement: lot 31, Alvin Langdon Coburn, Vortograph (The Eagle), 1917, estimated at $200000-300000 (image at right, middle, via Christie's) and lot 24, Edward Steichen, Bricks (West 86th Street), New York, c1922, estimated at $200000-300000 (image at right, bottom, via Christie's).

The complete lot by lot catalog can be found here.

The Delighted Eye: Modernist Masterworks from a Private Collection
April 4th

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction Results: First Open, March 8, 2013 @Christie's New York

The photography in Christie's First Open Armory week sale performed solidly. The overall Buy-In rate for the photographs on offer was less than 20% and the Total Sale Proceeds for photography fell in the middle of the range.

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

Total Lots: 48
Pre Sale Low Total Estimate: $1011500
Pre Sale High Total Estimate: $1438500
Total Lots Sold: 40
Total Lots Bought In: 8
Buy In %:16.67%
Total Sale Proceeds: $1154375

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

Low Total Lots: 15
Low Sold: 14
Low Bought In: 1
Buy In %: 6.67%
Total Low Estimate: $103500
Total Low Sold: $151750

Mid Total Lots: 26
Mid Sold: 21
Mid Bought In: 5
Buy In %: 19.23%
Total Mid Estimate: $595000
Total Mid Sold: $473125

High Total Lots: 7
High Sold: 5
High Bought In: 2
Buy In %: 28.57%
Total High Estimate: $740000
Total High Sold: $529500

The top photography lot by High estimate was lot 90, Andreas Gursky, Atlanta, 1996, estimated at $250000-350000; it was also the top photography outcome of the sale at $314500.

97.50% of the lots that sold had proceeds in or above the estimate range and there were a total of four surprises (defined as having proceeds of at least double the high estimate):

Lot 78, Laurie Simmons, Untitled (Woman's Head), 1976, estimated at $5000-7000, sold at $18750 (image at right, middle, via Christie's)
Lot 80, Sturtevant, Duchamp Man Ray Portrait, 1966, estimated at $4000-6000, sold at $18750
Lot 258, Vik Muniz, Scissors (The Sarcezo Drawings), 2002, estimated at $8000-12000, sold at $30000 (image at right, bottom, via Christie's)
Lot 264, Shirin Neshat, Soliloquy series (Veiled Women in Three Arches), 1999, estimated at $6000-8000, sold at $21250 (image at right, top, via Christie's)

Complete lot by lot results can be found here.

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction: First Open, March 8, 2013 @Christie's New York

Christie's has the final chance for the auction houses to separate Armory week collectors from their savings with its First Open sale coming up on Friday. Led by six works from Cindy Sherman, it's a mid range assortment with plenty of well known names. Overall, there are a total of 48 lots of photography available in the sale, with a total High estimate for photography of $1438500.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 15
Total Low Estimate (sum of high estimates of Low lots): $103500

Total Mid Lots (high estimate between $10000 and $50000): 26
Total Mid Estimate: $595000

Total High Lots (high estimate above $50000): 7
Total High Estimate: $740000

The top photography lot by High estimate is lot 90, Andreas Gursky, Atlanta, 1996, estimated at $250000-350000 (image at right, top.)

Here's the complete list of photographers represented by two or more lots in the sale (with the number of lots in parentheses):

Cindy Sherman (6)
Vik Muniz (5)
Nan Goldin (4)
Hiroshi Sugimoto (3)
Laurie Simmons (2)
Thomas Struth (2)
Sturtevant (2)
Zhang Huan (2)

Other lots of interest include lot 169, Cindy Sherman, Untitled, 2010-2012, estimated at $50000-70000 (image at right, middle) and lot 79, Laurie Simmons, Red Library II, 1983, estimated at $5000-7000 (image at right, bottom, all via Christie's.)

The complete lot by lot catalog can be found here.

First Open
March 8th

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction Results: Post-War and Contemporary Art Evening and Day Auctions, February 13 and 14, 2013 @Christie's London

The results for the photography included in Christie's Post-War and Contemporary Art Evening and Day sales in London last week were meaningfully better than expected. With the Buy-In rate for photography under 7 percent and all five photography lots in the Evening sale finding buyers at prices above their estimates, it comes as no surprise that the Total Sale Proceeds for photography easily exceeded the high end of the range.

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

Total Lots: 43
Pre Sale Low Total Estimate: £2268500
Pre Sale High Total Estimate: £3182000
Total Lots Sold: 40
Total Lots Bought In: 3
Buy In %: 6.98%
Total Sale Proceeds: £3962071

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

Low Total Lots: 3
Low Sold: 3
Low Bought In: 0
Buy In %: 0.00%
Total Low Estimate: £10000
Total Low Sold: £6688

Mid Total Lots: 19
Mid Sold: 19
Mid Bought In: 0
Buy In %: 0.00%
Total Mid Estimate: £267000
Total Mid Sold: £384575

High Total Lots: 21
High Sold: 18
High Bought In: 3
Buy In %: 14.29%
Total High Estimate: £2905000
Total High Sold: £3570808

The top photography lot by High estimate was lot 11, Gilbert & George, Dead Boards No. 11, 1976, at £350000-450000; it was also the top photography outcome of the two sales, at £601250.

95.00% of the lots that sold had proceeds in or above their estimate. There was only one surprise in these sales (defined as having proceeds of at least double the high estimate):

Lot 225, Sol LeWitt, Manhattan with Roosevelt Island Removed, 1978, estimated at £5000-7000, sold at £23750 (image at right, top, via Christie's)

Complete lot by lot results can be found here (Evening) and here (Day).

Christie's
8 King Street, St. James's
London SW1Y 6QT

Auctions: Post-War and Contemporary Art Evening and Day Auctions, February 13 and 14, 2013 @Christie's London

An early black and white Gilbert & George leads the photography offerings in Christie's Post-War and Contemporary Art Evening and Day auctions in London next week. Other top lots include works by Wall, Gursky, and Sherman. Overall, there are 43 photography lots available across the two sales, with a Total High Estimate for photography of £3182000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including £5000): 3
Total Low Estimate (sum of high estimates of Low lots): £10000

Total Mid Lots (high estimate between £5000 and £25000): 19
Total Mid Estimate: £267000

Total High Lots (high estimate above £25000): 21
Total High Estimate: £2905000

The top lot by High estimate is lot 11, Gilbert & George, Dead Boards No. 11, 1976, at £350000-450000. (Image at right, top, via Christie's.)

Here is the list of photographers who are represented by two or more lots in the two sales (with the number of lots in parentheses):

Andreas Gursky (4)
Cindy Sherman (4)
Gilbert & George (3)
Hiroshi Sugimoto (3)
Diane Arbus (2)
Gabriel Orozco (2)
Gerhard Richter (2)

Other lots of interest include lot 69, Jeff Wall, The Arrest, 1989, at £250000-350000 (image at right, middle) and lot 240, Rodney Graham, Oak, Kaggevinne, 1989, at £60000-80000 (image at right, bottom, both via Christie's.)

The complete lot by lot catalogs can be found here (Evening) and here (Day).

Post-War and Contemporary Art Evening Auction
February 13th

Post-War and Contemporary Art Day Auction
February 14th

Christie's
8 King Street, St. James's
London SW1Y 6QT

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.

Christie's
20 Rockefeller Plaza
New York, NY 10020

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

Regular readers here will know that starting last summer I moved away from comprehensive reporting on worldwide photography and contemporary art auctions to spend more time on reviews of gallery and museum shows. Just because I wasn't analyzing the sales doesn't mean that I wasn't following them as closely or actively as ever; I just concluded that I needed to focus my available writing time on the reviews. This decision wasn't ever meant to be a hard and fast one, and today, I'll be jumping back into the auction fray to talk about the Eggleston sale later tonight, and I'll follow up later this week to report on the results.

The reason this particular sale caught my attention is that I think it represents some topics worth talking about further. For those unfamiliar with what is going on here, this sale is an offering of extra large, recently made pigment prints (44x60 or reverse, in editions of 2), never before available in the market. Overall, there are a total of 36 lots available, with a total High estimate of $3350000. So not only do we have a process that Eggleston has never used before, we have an unprecedented use of scale, applied to a selection of images, both greatest hits and lesser known works. In addition, Eggleston is using the Damien Hirst model of direct to the collector via an auction house, bypassing the normal gallery route for new work.

My first reaction to both the idea of extra large, poster sized modern prints, as well as to the distribution model was one of extreme skepticism. Having not seen the prints, it seemed like a cashing-in, making big prints for the sake of being big and selling them for big prices to big collectors. While I certainly don't begrudge artists for finding creative ways for making money, the premise here seemed a bit commercial I must say. But I withheld judgment until I could go and see the prints for myself, which I did last week during the preview. (Installation shots from the preview at right.)

Aside from a couple of prints which suffer from over enlargement graininess and fuzziness in certain spots, I was surprised to find that the prints are pretty terrific, in some cases downright spectacular. The colors are saturated and vibrant, with a thick, richness that I wasn't expecting. While the tricycle, the red ceiling, the green shower, and the peaches sign are, of course, all here, the really smart and unexpected aspect of these particular prints is that Eggleston seems to have thought carefully about which lesser known images would benefit most from increased scale. I'd say roughly half of the works for sale use this scale change for maximum effect. The low angle, worm's eye views are especially strong, as are the top down views of car hoods and trunks. The shiny brass doorknob is something altogether different in this larger size. And a huge front tire, with Eggleston himself reflected in the silvery chrome of the bumper, was my favorite of the non-obvious choices.

So my revised conclusion is that while I'm still wary of the feeling of a sell-out, I expect these well-made prints are going to do very well indeed, with some of the iconic images running up much higher than the estimates might foretell.

Here's the simple statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 0
Total Low Estimate (sum of high estimates of Low lots): NA

Total Mid Lots (high estimate between $10000 and $50000): 7
Total Mid Estimate: $350000

Total High Lots (high estimate above $50000): 29
Total High Estimate: $3000000

The top photography lot by High estimate is lot 24, William Eggleston, Untitled, 1970, at $200000-300000. (This is the tricycle.)

The complete lot by lot catalog can be found here. The eCatalogue is here.

Photographic Masterworks by William Eggleston Sold to Benefit the Eggleston Artistic Trust
March 12th

Christie's
20 Rockefeller Plaza
New York, NY 10020

Auction Results: Post-War and Contemporary Art Evening and Day Auctions, June 28 and 29, 2011 @Christie's King Street

If you ever needed evidence that the top lots in an auction drive the overall results, look no further than the photography included among Christie's pair of Contemporary Art sales in London last week. While all of the Low and Mid photo lots found buyers, 5 out of the top 6 lots passed, driving the Total Sale Proceeds for photography to less than half of the low end of the estimate range.

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

Total Lots: 33
Pre Sale Low Total Estimate: £2586000
Pre Sale High Total Estimate: £3786000
Total Lots Sold: 26
Total Lots Bought In: 7
Buy In %: 21.21%
Total Sale Proceeds: £1257675

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

Low Total Lots: 2
Low Sold: 2
Low Bought In: 0
Buy In %: 0.00%
Total Low Estimate: £9000
Total Low Sold: £13125

Mid Total Lots: 15
Mid Sold: 15
Mid Bought In: 0
Buy In %: 0.00%
Total Mid Estimate: £262000
Total Mid Sold: £321300

High Total Lots: 16
High Sold: 9
High Bought In: 7
Buy In %: 43.75%
Total High Estimate: £3515000
Total High Sold: £923250

The top lot by High estimate was lot 16, Cindy Sherman, Untitled, 1983, at £1000000-1500000; it did not sell. The top photography outcome was lot 21, Andreas Gursky, Prada II, 1997 at £409250.

92.31% of the lots that sold had proceeds in or above their estimate. There was only one surprise in these sales (defined as having proceeds of at least double the high estimate):

Lot 155, Martha Rosler, Body Beautiful, or Beauty Knows No Pain (Hot Meat), 1966-1972, at £8125 (image at right, bottom, via Christie's)

Complete lot by lot results can be found here (Evening) and here (Day).

Christie's
8 King Street, St. James's
London SW1Y 6QT

Auction Results: Oeuvres de Pierre et Gilles, May 30, 2011 @Christie's Paris

While it wasn't a white glove outcome, the results from Christie's recent single artist Pierre et Gilles sale in Paris were nonetheless quite strong. The Buy-In rate was under 15%, all of the top lots found buyers, and the Total Sale Proceeds came in above the range.
.
The summary statistics are below (all results include the buyer’s premium):

Total Lots: 23
Pre Sale Low Total Estimate: 465000€
Pre Sale High Total Estimate: 728000€
Total Lots Sold: 20
Total Lots Bought In: 3
Buy In %: 13.04%
Total Sale Proceeds: 797900€

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: 16
Mid Sold: 13
Mid Bought In: 3
Buy In %: 18.75%
Total Mid Estimate: 373000€
Total Mid Sold: 486100€

High Total Lots: 7
High Sold: 7
High Bought In: 0
Buy In %: 0.00%
Total High Estimate: 355000€
Total High Sold: 311800€

The top lot by High estimate was lot 23, Pierre et Gilles, David et Jonathan - Jean-Yves et Moussa, 2005, at 35000-55000€; it sold for 56200€. The top outcome of the sale was lot 2, Pierre et Gilles, Le petit jardinier - Didier, 1993, at 157000€ (image at right, top, via Christie's)

100.00% of the lots that sold had proceeds in or above their estimate. There were a total of two surprises in this small sale (defined as having proceeds of at least double the high estimate):

Lot 2, Pierre et Gilles, Le petit jardinier - Didier, 1993, at 157000€ (image at right, top, via Christie's)
Lot 19, Pierre et Gilles, Sans toi - Ariel, 2006, at 37000€

Complete lot by lot results can be found here.

Christie's
9 Avenue Matignon
75008 Paris

Auctions: Post-War and Contemporary Art Evening and Day Auctions, June 28 and 29, 2011 @Christie's King Street

The photography found in Christie's upcoming Post-War and Contemporary Art Evening and Day auctions at King Street next week follows a now familiar pattern: a high priced Cindy Sherman headlines the sales, with additional top lots on offer from Sherman, Struth, Baldessari, and Gursky. Overall, there are 33 photography lots available across the two sales, with a Total High Estimate for photography of £3786000.

Here's the breakdown:

Total Low Lots (high estimate up to and including £5000): 2
Total Low Estimate (sum of high estimates of Low lots): £9000

Total Mid Lots (high estimate between £5000 and £25000): 15
Total Mid Estimate: £262000

Total High Lots (high estimate above £25000): 16
Total High Estimate: £3515000

The top lot by High estimate is lot 16, Cindy Sherman, Untitled, 1983, at £1000000-1500000. (Image at right, top, via Christie's.)

Here is the list of photographers who are represented by two or more lots in the two sales (with the number of lots in parentheses):

Thomas Ruff (3)
John Baldessari (2)
Thomas Demand (2)
Idris Khan (2)
Vik Muniz (2)
Cindy Sherman (2)
Thomas Struth (2)
Hiroshi Sugimoto (2)
.

(Lot 22, Thomas Struth, Art Institute of Chicago I, 1990, at £250000-350000, image at right, middle, and lot 160, Idris Khan, Every...Bernd and Hilla Becher Spherical Type Gasholders, 2004, at £18000-25000, image at right, bottom, both via Christie's.)

The complete lot by lot catalogs can be found here (Evening) and here (Day).

Post-War and Contemporary Art Evening Auction
June 28th
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Post-War and Contemporary Art Day Auction
June 29th
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Christie's
8 King Street, St. James's
London SW1Y 6QT

Deborah Bell to Join Christie's Photographs Department

Last week, I did an afternoon swing through Chelsea and stopped by to see the Ana Barrado show at Deborah Bell Photographs (review coming later this week). After kicking around the nuances of infrared film with my ever welcoming and knowledgeable host, she mentioned that this would be the last show at the gallery; she was closing up shop after more than a decade to join Christie's as the Head of the Photographs Department. What a surprise!

In my head, I think the well worn path usually runs in the opposite direction, in that auction house specialists eventually tend to move on to galleries (brand names or new ones of their own), but Deborah made a compelling case that given the changes in how material is now moving through markets, joining Christie's would give her a better opportunity to see and work with a bigger sample of high quality material from across time periods and styles. I think that this logic probably does hold, especially if you are running a smaller, more niche gallery program like hers.

I'm sure that the transition from running her own gallery to working for a large corporate entity will have its own mix of bittersweet moments and new opportunities, but luckily for her, the existing Christie's Photographs team is already strong and successful. As a collector, I'll certainly look forward to seeing her unpretentious brand of Minnesota friendliness at work in the showrooms this fall.