Christie's - Post War and Contemporary Evening Auction Analysis

Art Auction Results, Collectors TipRicardo Martinez

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  • Christie's London
  • Christie's London
  • Christie's London
  • Christie's London

If we should judge the whole week over results of the first big auction of Post War and Contemporary Art, then we are bound to say that the whole week will be a very successful one. Post War and Contemporary Evening Auction at Christie’s London produced more than 85 percent of sold lots, and almost a total of $130 million for sold lots. As it was expected, two works by Francis Bacon highlighted the whole auction. Bacon’s Study for Head of Isabel Rawsthorne and George Dyer led the whole sale, as the artist’s only dyptich (of just 10 total) that depicted his lover George Dyer and friend Isabel Rawsthorne had its hammer price at almost $17 million. Further more, Bacon’s Two Men Working in a Field almost achieved its high estimate and was sold for almost $15 million (all hammer prices are without buyer’s premium, and with the exchange rate of $1.56513 for one British pound). Also, we have seen world records for six artists at Post War and Contemporary Evening Auction.
 

Six Artists Had World Record at Christie’s London

Chris Ofili, Malcolm Morley, Jeff Elrod, Brent Wadden, R.H. Quaytman and the Chapman brothers (Jake and Dinos) all broke world records for prices that their respective artworks had achieved at an auction. Chris Ofili’s The Holy Virgin Mary was sold for $3.91 million, Malcolm Morley’s SS Amsterdam in Front of Rotterdam for $1.57 million, Jeff Elrod’s Echo Painting (B/W) was sold for $281,723, Brent Wadden’s Alignment (13) had the biggest difference between hammer price ($156,513) and high estimate (+100 percent), R. H. Quaytman’s Constructivismes, Chapter 13 was sold for $751,262 – under high estimate, as well as the Great Deeds Against the Dead by the Chapman brothers, which was sold for $547,796.

  • Christie's London
  • Christie's London
  • Christie's London

The Overview of Post War and Contemporary Evening Auction at Christie's

Total of 76 lots were auctioned on the last day of June at Christie’s London, and 66 lots were sold (an excellent 86.8 percent). These 66 lots were almost evenly sold over high estimate (21 lots, or 31.8 percent), in range of estimated values (25 lots, 37.9 percent) and under low estimate (20 lots, or 30.3 percent). The sum of hammer prices ($128.93 million) was just in the middle of estimated values for sold lots ($108.51 million – $150.82 million), and the average hammer price was just under $2 million.
 
As we said, two paintings by Francis Bacon led the way of the whole auction. Apart from Bacon’s Study for Head of Isabel Rawsthorne and George Dyer and Two Men Working in a Field, Yves Klein’s Peinture de feu couleur sans titre also had a notable result with $8.14 million, as well as Andy Warhol’s Five Deaths and Sigmar Polke’s Mondlandschaft mit Schilf (Moonlit landscape with reeds) – they were sold for $5.32 million each. We’ve mentioned Brent Wadden’s Alignment (13) that doubled its high estimate and had the highest difference between hammer price and high estimate of the auction. Morris Louis’ Number 36 had +85.7 margin, and then come two works by Jean Dubuffet: Le lit I (The Bed I) with +80 percent and Rentrer chez soi (Coming Home) with +75 percent difference. Gerhard Richter’s Seestück (Oliv bewölkt) – Seascape (with Olive Clouds) had the worst result at this department, as it was sold with -35 percent difference between hammer price and its low estimate.
 

Christie's London

Andy Warhol – Skull, 1976 (Lot 27). Estimated at $626,052 – $939,078, sold for $1,565,130 (+66.7 percent margin).


 
Christie's London

Jean Dubuffet – Rentrer Chez Soi (Coming Home), 1957 (Lot 11). Estimated at $469,539 – $626,052, sold for $1,095,591 (+75 percent difference).


 
Christie's London

Roy Lichtenstein – Apples, Grapes, Grapefruit, 1974 (Lot 10). Estimated at $2,817,234 – $3,912,825, sold for low estimate.


 
Christie's London

Yves Klein – Peinture De Feu Couleur Sans Titre, (FC 27), 1962 (Lot 18). Estimated at $7,825,650, sold for $8,138,676.


 
Christie's London

Left: Morris Louis – Number 36, 1962 (Lot 9). Estimated at $782,565 – $1,095,591, sold for $2,034,669 (+85.7 percent margin between hammer price and high estimate – the second best result of the auction). / Right: Chris Ofili – The Holy Virgin Mary, 1996 (Lot 37). Estimated at $2,191,182 – $2,817,234, sold for $3,912,825 (+38.9 percent difference).


 
Christie's London

Left: Jean Dubuffet – Le Lit I (The Bed I), 1964 (Lot 53). Estimated at $1,095,591 – $1,565,130, sold for $2,817,234 (+80 percent margin – third best of the auction). / Right: Andy Warhol – Lenin, 1986 (Lot 28). Estimated at $3,443,286 – $4,382,364, sold for $3,599,799.


 
Christie's London

Andy Warhol – Five Deaths, 1963 (Lot 47). Estimated at $3,443,286 – $4,382,364, sold for $5,321,442.


 
Christie's London

Brent Wadden – Alignment (13), 2013 (Lot 3). Estimated at $46,954 – $78,257, sold for double high estimate ($156,513, or +100 percent difference between hammer price and high estimate – the best result of the night).


 
Christie's London

Francis Bacon – Study For Head Of Isabel Rawsthorne And George Dyer, 1967 (Lot 36). Estimated at $12,521,040 – $18,781,560, sold for $16,903,404 – the highest hammer price of the auction.


 
Christie's London

Left: Francis Bacon – Two Men Working In A Field, 1971 (Lot 24). Estimated at $10,955,910 – $15,651,300, sold for $14,868,735 – the second highest hammer price of the auction. / Right: Sigmar Polke – Mondlandschaft Mit Schilf (Moonlit Landscape With Reeds), 1969 (Lot 15). Estimated at $5,477,955 – $7,043,085, sold for $5,321,442.


 
Christie's London

Alighiero Boetti – Mappa, 1990 (Lot 30). Estimated at $1,721,643 – $2,347,695, sold for $2,034,669.

  • Christie's London

Christie's - Post War and Contemporary Evening Auction in Details

Please, scroll down and take a look at the summary of the Post War and Contemporary Evening Auction at Christie’s London, as well as detailed information on every lot that was put on sale on June 30.
 

INDEXRESULT
Total number of lots:76
Number of sold lots:66
Sold lots [%]:86.8
Total [$]:128,932,283
Number of sold lots over high estimate:21
Over high estimate (Total) [%]:27.6
Over high estimate (Sold) [%]:31.8
Number of sold lots in range of estimated values:25
In range of estimated values (Sold) [%]:37.9
Number of sold lots under low estimate:20
Under low estimate (Sold) [%]:30.3
Results were under estimate spread of [%]:28.6
Max Hammer [$]:16,903,404
Average Hammer [$]:1,953,519
Median Hammer [$]:978,207
Median Hammer Average Hammer Difference [%]:-49.9

 
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
1Jeff ElrodEcho Painting (B/W)125,210187,816281,72350125
2Danh VoUntitled (A-Z without J)-E234,770313,026281,723-1020
3Brent WaddenAlignment (13)46,95478,257156,513100233.3
4Richard HamiltonPin-up Sketch V125,210187,816313,02666.7150
5Alexander CalderTrois cercles, bleu, jaune, rouge (Three Circles, Blue, Yellow, Red)391,283547,796594,7498.652
6Jean DubuffetTasse de thé V (utopique) (Cup of Tea V (Utopian))547,796704,309939,07833.371.4
7Isamu NoguchiStrange Bird626,052939,078547,796-41.7-12.5
8Ben NicholsonNov 51 (Silver and Black)156,513234,770109,559-53.3-30
9Morris LouisNumber 36782,5651,095,5912,034,66985.7160
10Roy LichtensteinApples, Grapes, Grapefruit2,817,2343,912,8252,817,234-280
11Jean DubuffetRentrer chez soi (Coming Home)469,539626,0521,095,59175133.3
12Jean DubuffetFemme assise aux persiennes (Seated woman with shutters)313,026469,539438,236-6.740
13Robert RauschenbergPage 14, Paragraph 6 (Short Stories)187,816281,723313,02611.166.7
14Gerhard RichterSeestück (Oliv bewölkt) (Seascape (with Olive Clouds))3,130,2604,695,3902,034,669-56.7-35
15Sigmar PolkeMondlandschaft mit Schilf (Moonlit landscape with reeds)5,477,9557,043,0855,321,442-24.4-2.9
16Gerhard RichterKine3,130,2604,695,390Not SoldNot SoldNot Sold
17Yves KleinSculpture-éponge rose sans titre, 1,095,5911,565,1301,252,104-2014.3
18*Yves KleinPeinture de feu couleur sans titre, 7,825,6507,825,6508,138,67644
19Alberto BurriBianco plastica P3,130,2604,695,3902,973,747-36.7-5
20Enrico CastellaniSuperficie alluminio547,796782,565860,8221057.1
21Lucio FontanaConcetto spaziale, Attese3,912,8255,477,9554,460,621-18.614
22Paolo ScheggiIntersuperficie curva bianca469,539782,5651,095,59140133.3
23Gerhard RichterBäume im Feld (Trees in Field)6,260,5209,390,780Not SoldNot SoldNot Sold
24Francis BaconTwo Men Working in a Field10,955,91015,651,30014,868,735-535.7
25Malcolm MorleySS Amsterdam in Front of Rotterdam939,0781,252,1041,565,1302566.7
26Gerhard RichterAbstraktes Bild3,912,8255,477,955Not SoldNot SoldNot Sold
27Andy WarholSkull 626,052939,0781,565,13066.7150
28Andy WarholLenin 3,443,2864,382,3643,599,799-17.94.5
29Zeng FanzhiMask Series No. 111,095,5911,565,1301,017,335-35-7.1
30Alighiero BoettiMappa1,721,6432,347,6952,034,669-13.318.2
31Sigmar PolkeIK MACH DASS SCHON JE$S (I’ll take care of it, Je$s)3,130,2604,695,3903,756,312-2020
32Christopher WoolMad Cow6,260,5209,390,7804,695,390-50-25
33Martin KippenbergerUntitled (from the Hand-Painted Picture Series)3,912,8255,477,9553,912,825-28.60
34Maurizio CattelanUntitled (Picasso) 1,878,1562,817,234Not SoldNot SoldNot Sold
35David HockneyGregory in the Pool (Paper Pool 4)469,539626,052626,052033.3
36Francis BaconStudy for Head of Isabel Rawsthorne and George Dyer12,521,04018,781,56016,903,404-1035
37Chris OfiliThe Holy Virgin Mary2,191,1822,817,2343,912,82538.978.6
38Jake and Dinos ChapmanGreat Deeds Against the Dead626,052939,078547,796-41.7-12.5
39Damien HirstBeautiful mis-shapen purity clashing excitedly outwards painting782,5651,095,591704,309-35.7-10
40Jenny SavilleMatrix1,017,3351,330,3611,017,335-23.50
41Tracey EminIt Always Hurts313,026469,539313,026-33.30
42Sarah LucasDrag-On547,796704,309Not SoldNot SoldNot Sold
43Maurizio CattelanOstrich 2,347,6953,130,2602,034,669-35-13.3
44Martin KippenbergerOhne Titel (Krieg böse) Untitled (War Wicked)1,095,5911,565,1301,017,335-35-7.1
45Zeng FanzhiThe Death of Republic Soldiers1,095,5911,565,130782,565-50-28.6
46Ed RuschaWoman on Fire1,408,6171,878,1561,799,900-4.227.8
47Andy WarholFive Deaths3,443,2864,382,3645,321,44221.454.5
48Julie MehretuLooking Back to a Bright New Future2,817,2343,912,8252,973,747-245.6
49Raqib ShawAbsence of God II1,095,5911,565,130939,078-40-14.3
50Richard PrinceUntitled (Cowboy)1,095,5911,565,1301,095,591-300
51Sigmar PolkeUntitled 939,0781,252,1041,283,4072.536.7
52R. H. QuaytmanConstructivismes, Chapter 13469,539782,565751,262-460
53Jean DubuffetLe lit I (The Bed I)1,095,5911,565,1302,817,23480157.1
54Louise BourgeoisLabyrinthine Tower469,539782,565469,539-400
55Robert RymanManual2,347,6953,130,260Not SoldNot SoldNot Sold
56Lucio FontanaConcetto spaziale782,5651,095,591673,006-38.6-14
57Lucio FontanaConcetto spaziale, Attese1,252,1041,878,1562,269,43920.881.3
58Alexander CalderMontagne pas aiguë1,173,8481,565,1301,721,6431046.7
59Lucio FontanaConcetto spaziale 626,052939,078626,052-33.30
60Maurizio CattelanUntitled 156,513234,770156,513-33.30
61Antony GormleyShrive X (Twisted)469,539782,565469,539-400
62Sarah LucasNew Religion156,513234,770Not SoldNot SoldNot Sold
63Chris OfiliThe Naked Soul of Captain Shit and the Legend of the Black Stars626,052939,078594,749-36.7-5
64Tracey EminEvery Part of Me's Bleeding78,257109,55975,126-31.4-4
65Damien HirstNight Falls Fast391,283547,796391,283-28.60
66Thomas SchütteQuartett281,723391,283234,770-40-16.7
67Isa GenzkenOil XIII156,513234,770203,467-13.330
68Oscar MurilloUntitled156,513234,770281,7232080
69Joe BradleyUntitled469,539782,565391,283-50-16.7
70Thomas SchütteKleiner Respekt (Small Respect)782,5651,095,591626,052-42.9-20
71Neo RauchBon Si704,3091,017,3351,252,10423.177.8
72Gerhard RichterRot-Blau-Gelb (Red-Blue-Yellow)1,252,1041,878,156Not SoldNot SoldNot Sold
73Albert OehlenAbstraktes Bild 19B469,539626,052438,236-30-6.7
74Sigmar PolkeUntitled187,816281,723Not SoldNot SoldNot Sold
75Andreas GurskyHong Kong, Grand Hyatt Park II140,862187,816140,862-250
76Paula RegoOn the Beach547,796860,822Not SoldNot SoldNot Sold
TOTAL:128,731,948180,287,332128,932,283-28.50.2
TOTAL (Sold lots):108,510,467150,815,933128,932,283-14.518.8

 
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All images courtesy of Christie’s.

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