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.
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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

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

Coming up next week, Christie's has scheduled a single owner, single artist collection sale at its Paris location, bringing to market a selection of unique works by the French pair of Pierre et Gilles. This group of works is entirely made up of male nudes and male portraits, all in the lavish, fairytale, overpainted style which is their hallmark. Recent images by Pierre and Gilles to enter the secondary markets have performed well, with prices ranging between $10000 and nearly $200000; given their scarcity, I imagine these images will find buyers with ease. Overall, there are a total of 23 lots up for sale, with a Total High Estimate of 728000€.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including 7500€): 0
Total Low Estimate (sum of high estimates of Low lots): NA

Total Mid Lots (high estimate between 7500€ and 35000€): 16
Total Mid Estimate: 373000€

Total High Lots (high estimate above 35000€): 7
Total High Estimate: 355000€

The top lot by High estimate is lot 23, Pierre et Gilles, David et Jonathan - Jean-Yves et Moussa, 2005, at 35000-55000€.

(Lot 10, Pierre et Gilles, Gai Paris - Jean-Paul et Andreas, 1988, at 30000-50000€, image at right, top, and lot 6, Pierre et Gilles, Le footballeur blesse - Frederic Lenfant, 1998, at 20000-30000€, image at right, bottom, both via Christie's.)

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

Oeuvres de Pierre et Gilles provenant d'une Collection privee
May 30th

Christie's
9 Avenue Matignon
75008 Paris