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Auction Analysis: Sotheby’s – Contemporary Art Day Auction

  • Auction Analysis: Sotheby’s – Contemporary Art Day Auction
  • Auction Analysis: Sotheby’s – Contemporary Art Day Auction
July 7, 2015

An exciting Thursday evening at Sotheby’s in London! On July 2nd, Sotheby’s hosted Contemporary Art Day auction, where we saw some quite remarkable auction results. The auction gathered $22.310.928, with some amazing sales that marked the evening. The auction itself saw some famous artworks with examples from the established masters such as Yves Klein and Gunther Uecker together with formative works by Sigmar Polke and Tom Wesselmann, amongst many other strong pieces that are fresh to the market and highly sought-after. Some eighty-two percent of lots offered were sold, which is quite good result.

The Star of the Evening – Lucian Freud

Among many great results of the Contemporary Art Day auction at Sotheby’s, the sale of four Lucian Freud ’s pieces certainly marked the event. These four pieces were sold for much higher price from their high estimates. For example, Freud’s Cache Of Seven Letters From Lucian Freud To Stephen Spender was sold for $140,563, topping the high estimate for incredible 2900.3 percent. Similarly, the artist’s Letter From Lucian Freud To Stephen Spender was sold for $421,689 (+2150 percent from high estimate).

  • Auction Analysis: Sotheby’s – Contemporary Art Day Auction

The Overview of Sotheby’s – Contemporary Art Day Auction

Sotheby’s Contemporary Art Day Auction was marked by some impressive results. We have already mentioned the sale of two Lucian Freud’s pieces that were sold for much higher price from their high estimates. Additionally to these two works by this great artist, we should also mention the sale of his Letter From Lucian Freud To Stephen Spender (sold for $390,453; topping the high estimate for 1983.3 percent) and the sale of an artwork with the same name as previous one, that was sold for $327,980 (+1300 percent from high estimate). When it comes to high prices, the winner of the auction is Peter Doig, whose work Bird House (Small), sold for $1,374,393. Eduardo Chillida’s Sonora was sold for $796,523; while Lucio Fontana’s Concetto Spaziale, Attesa was sold for $616,915. Out of 288 offered at Sotheby’s Contemporary Art Day Auction, 236 were sold (or 81.9 percent), which is quite good result.

However, some pieces did not meet expectations. For example, Israel Lund Untitled was sold for -50 percent difference between hammer price and low estimate, followed by two Piotr Uklanski’s works – Untitled (Foliage) and Untitled (Gtx C) that also had -50 percent difference.

Luis Fieto - Nº 132 (Lot 179). Estimated at $78,091-$109,327'; sold for $115,574
Luis Fieto – Nº 132 (Lot 179). Estimated at $78,091-$109,327′; sold for $115,574
Gerhard Richter - Untitled (Lot 112). Estimated at $124,945-$187,417' sold for $203,035
Gerhard Richter – Untitled (Lot 112). Estimated at $124,945-$187,417′ sold for $203,035
Lucian Freud - Cache of Six Letters from Lucian Freud to Stpehen Spender (Lot 202). Estimated at $3,124-$4,685; sold for $140,563
Lucian Freud – Cache of Six Letters from Lucian Freud to Stpehen Spender (Lot 202). Estimated at $3,124-$4,685; sold for $140,563
  • Auction Analysis: Sotheby’s – Contemporary Art Day Auction

Results of Sotheby’s – Contemporary Art Day Auction

Please, scroll down, and you will find two tables – one with the summary of the Sotheby’s – Contemporary Art Day Auction; the second one with detailed information on every lot auctioned at this auction.

Total number of lots:288
Number of sold lots:236
Sold lots [%]:81.9
Total [$]:22.310.928
Number of sold lots over high estimate:87
Over high estimate (Total) [%]:30.2
Over high estimate (Sold) [%]:36.9
Number of sold lots in range of estimated values:100
In range of estimated values (Sold) [%]:42.3
Number of sold lots under low estimate:49
Under low estimate (Sold) [%]:20.8
Results were under estimate spread of [%]:29.4
Max Hammer [$]:1.374.393
Average Hammer [$]:94.538
Median Hammer [$]:42.169
Median Hammer Average Hammer Difference [%]:-55.4
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
101Alberto BurriCombustione (Combustion)46.83278.05478.054066.7
102Alighiero BoettiSegno e disegno (Sign and Design)62.44393.66593.665050
103Paolo ScheggiIntersuperficie curva (Curved Intersurfaces)109.276156.108234.16250114.3
104Agostino BonalumiBianco (White)156.108234.162148.303-36.7-5
105Piero ManzoniAchrome156.108234.162249.7736.760
106Enrico CastellaniSuperficie bianca (White Surface)202.940280.994265.384-5.630.8
107Alexander CalderUntitled156.108234.162280.9942080
108Jim Dine(i) Colors n°1 (paintBOX)9.36612.48923.41687.5150
109Roy LichtensteinSeascape62.44393.665132.69241.7112.5
110George SegalLovers on a Bench93.665124.88678.054-37.5-16.7
111Marcel BroodthaersPot-Lèvres (Jar-Lips)15.61123.41640.58873.3160
112Marcel BroodthaersOeufs 62.44393.665112.3982080
113Marcel BroodthaersCo-Coq23.41631.222Not SoldNot SoldNot Sold
114Marcel BroodthaersLe rouge et le bleu (The Red and the Blue)18.73328.09962.443122.2233.3
115Marcel BroodthaersLa Clef de l'Horloge (Un poème cinématographique a l’honneur de Kurt Schwitters) (The Key of the Clock (A Cinematic Poem in Honour of Kurt Schwitters))12.48918.73312.489-33.30
116Marcel BroodthaersUn Voyage en Mer du Nord (A Voyage on the North Sea)6.2449.3666.244-33.30
117Joseph KosuthSubject and Object Self-Defined124.886187.330Not SoldNot SoldNot Sold
118Gerhard RichterBetty234.162390.270202.940-48-13.3
119SIGMAR POLKEKalla (Arum Lily/Calla)390.270546.378561.9892.944
120Günther FörgUntitled 78.054109.276124.88614.360
121Gerhard RichterStrip62.44393.66593.665050
122Peter DoigUntitled (Boiler House)46.83262.44365.565540
123Peter DoigSnowboarder390.270546.378405.881-25.74
124Glenn BrownI do not feel embarrassed at attempting to express sadness and loneliness468.324780.540351.243-55-25
125SHERRIE LEVINELoulou124.886187.330148.303-20.818.8
126ROBERT LONGOUntitled (Last Tiger)468.324624.432842.9833580
127DANA SCHUTZUntitled156.108234.162Not SoldNot SoldNot Sold
128Carroll DunhamDead Space (Wall)78.054109.276156.10842.9100
129George CondoAbstract Portrait390.270546.378405.881-25.74
130TAKASHI MURAKAMIAnd then, and then, and then, and then and then / Super Blue DOB468.324624.432343.438-45-26.7
131JONAS WOODJerm18.73328.09965.565133.3250
132Jeff ElrodPilot62.44393.665124.88633.3100
133Stefan BrüggemannStuck or Puddle Painting 310.92815.61149.955220357.1
134BRENDAN LYNCHHe Used the Only Thing He Had12.48918.73313.269-29.26.2
135Louis EisnerKnucklehead 8049384 XXXXXXX XXXXXXX12.48918.73312.489-33.30
136Nick DarmstaedterBlade31.22246.83243.710-6.740
137FREDRIK VAERSLEVUntitled (Canopy Painting)78.054109.276Not SoldNot SoldNot Sold
138DAVID OSTROWSKIF (A thing is a thing in a whole which it's not)46.83278.054Not SoldNot SoldNot Sold
139Sergej JensenUntitled46.83262.443Not SoldNot SoldNot Sold
140Ayan FarahRA Shadow12.48918.733Not SoldNot SoldNot Sold
141LESLEY VANCEUntitled (8)23.41631.22224.977-206.7
142Gerhard RichterSeptember124.886187.330128.009-31.72.5
143Cy TwomblyUntitled312.216468.324241.967-48.3-22.5
144Jean-Michel BasquiatUntitled 468.324780.540Not SoldNot SoldNot Sold
145Andy WarholDollar Sign312.216468.324343.438-26.710
146Andy WarholLadies and Gentlemen (Alphanso Panell)546.378858.594468.324-45.5-14.3
147George CondoPriest and Female Figure in Chair234.162312.216234.162-250
148Sigmar PolkeUntitled187.330280.994234.162-16.725
149A. R. PenckMusikprobleme (Music Problems)78.054109.27674.932-31.4-4
150Anselm KieferBrünhilde234.162390.270249.773-366.7
151Georg BaselitzAdler (Eagle)15.61123.41620.294-13.330
152Georg BaselitzAdler (Eagle)15.61123.41615.611-33.30
153Georg BaselitzSoldatenliebchen390.270468.324Not SoldNot SoldNot Sold
154Hans-Peter FeldmannZwei Schwestern von Schadow (Two Sisters by Shadow)23.41631.222Not SoldNot SoldNot Sold
155THOMAS SCHÜTTEUntitled (Portraits of Women)234.162312.216234.162-250
156SIGMAR POLKEUntitled (Mariette's 25th Birthday)62.44393.665Not SoldNot SoldNot Sold
157Martin KippenbergerUntitled62.44393.665Not SoldNot SoldNot Sold
158FRANZ WESTO.T. (Bemalt von Albert Oehlen) (Untitled (Painted by Albert Oehlen))46.83278.05449.955-366.7
159FRANZ WESTNamensbild (Anne) (Name Picture (Anne))31.22246.83231.222-33.30
160THOMAS SCHÜTTEUntitled (Ceramic Sketch)78.054109.27678.054-28.60
161Martin KippenbergerUntitled (Chairs)140.497187.33Not SoldNot SoldNot Sold
162Gerhard RichterGrau (Grey)78.054109.27678.054-28.60
163Richard SerraUntitled234.162312.216Not SoldNot SoldNot Sold
164SEAN SCULLYMariana593.210702.486593.21-15.60
165Kenneth NolandAmend234.162312.216218.551-30-6.7
166John ChamberlainNaughty (Netsuke)265.384280.994265.384-5.60
167SEAN SCULLYUntitled 156.108234.162124.886-46.7-20
168Matthew Day JacksonAugust 6, 194578.054109.27685.859-21.410
169MARK TANSEYStudy for "Reader"156.108234.162Not SoldNot SoldNot Sold
170Friedrich KunathAlmost Summer39.02754.63846.832-14.320
171YOSHITOMO NARAAttack the Rotten World78.054109.276109.276040
172Andy WarholAre You "Different" (Positive)156.108234.162Not SoldNot SoldNot Sold
173Cy TwomblyUntitled109.276156.10893.665-40-14.3
174Andy WarholStill Life (Stage Design)78.054109.276Not SoldNot SoldNot Sold
175Andy WarholMen’s hat and gloves, Tiffany box and ring, toy cannon, cigarette lighter62.44393.665Not SoldNot SoldNot Sold
176ANDY WARHOLRauschenberg Family78.054109.276124.88614.360
177Andy WarholGun62.44393.66562.443-33.30
178RICHARD PRINCEUntitled (Cowboy)54.63870.249Not SoldNot SoldNot Sold
179HAIM STEINBACHCapri suite #246.83278.05485.8591083.3
180George CondoEtruscan Study43.71049.955Not SoldNot SoldNot Sold
181ADRIANA VAREJÃOSarça Ardente (Burning Bush)187.33280.994187.330-33.30
182Amedeo ModiglianiNu debout de profil156.108234.162109.276-53.3-30
183Pablo PicassoTorse de Femme (L’Egyptienne)124.886187.330117.081-37.5-6.2
184Jean DubuffetPersonnage18.73328.09931.22211.166.7
185Jean DubuffetPortrait d'Homme II62.44393.665374.659300500
186Jean DubuffetTête à la lèvre blessée (Head with Wounded Lip)156.108234.162132.692-43.3-15
187Tom WesselmannStudy for Nude Aquatint234.162312.216265.384-1513.3
188Tom WesselmannMonica Nude in Robe and Stockings (Variation #7)187.330280.994257.578-8.337.5
189JULIAN SCHNABELCorinne234.162312.216234.162-250
190Francesco ClementeSolo62.44393.66570.249-2512.5
191Sandro ChiaRustic Riot78.054109.276Not SoldNot SoldNot Sold
192Francois-Xavier LalanneChouette de Tourtour (Owl of Tourtour)78.054109.276117.0817.150
193Claude LalanneHanoukia15.61123.416121.764420680
194Scott BurtonHectapod Table15.61123.416Not SoldNot SoldNot Sold
195Helmut NewtonSumo3.1224.6837.49360140
196Robert SilversDouble Marilyn12.48918.7336.244-66.7-50
197ArmanColor Strokes9.36612.4894.995-60-46.7
198Niki de Saint PhalleLes baigneurs (The Bathers)23.41631.22248.39355106.7
199Michael Craig-MartinTelephone Receiver6.2449.36614.05050125
200LISA MILROYGreek Vases9.36612.4894.059-67.5-56.7
201David HockneySelf-Portrait, July 19864.6837.80514.83090216.7
202Allen Jones R.A.Little Fascinating Rhythm, No. 510.92815.61120.2943085.7
203Laurence Stephen Lowry R.A.Standing Woman39.02754.63846.832-14.320
204Kenneth Armitage R.A.Two Standing Women46.83278.05485.8591083.3
205Antony GormleyAnother Time XVII187.33280.994202.940-27.88.3
206Barry FlanaganNijinski Hare On Globe Form, Mirrored312.216468.324Not SoldNot SoldNot Sold
207Frank AuerbachSeated Figure with Arms Raised124.886187.330106.153-43.3-15
208Lucian FreudBoy Posing46.83262.44351.516-17.510
209Bridget RileyJanuary 1923.41631.22221.855-30-6.7
210Tom WesselmannStudy for Still Life with Blonde187.330280.994156.108-44.4-16.7
211Paula RegoYoung Poet 156.108234.162Not SoldNot SoldNot Sold
212Francis AlÿsUntitled (Study for El Soplón)12.48918.733Not SoldNot SoldNot Sold
213ELIZABETH PEYTONKirsty and Roe23.41631.22228.880-7.523.3
214PAMELA ROSENKRANZMake a wish. Center for a Test Drive7.80510.9287.805-28.60
215Nicolas DeshayesSour Fruits9.36612.4894.683-62.5-50
216DAVID OSTROWSKIF (Spiel Stop)31.22246.832Not SoldNot SoldNot Sold
217Harold AncartUntitled39.02754.63849.955-8.628
218Elmgreen & DragsetPerception, Fig. 331.22246.832106.153126.7240
219Ida EkbladFigurine With Horns9.36612.4897.805-37.5-16.7
220Mike BouchetGlory and Gospel23.41631.222Not SoldNot SoldNot Sold
221Mark FloodLady with a Sponge46.83278.054Not SoldNot SoldNot Sold
222GREAR PATTERSONStarburst18.73328.09912.489-55.6-33.3
223Mark FloodEmerald Crystal46.83278.05446.832-400
224Leo GabinStuck Sittin on 30s15.61123.41615.611-33.30
225CHRISTIAN ROSALook into the Future23.41631.22223.416-250
226FREDRIK VAERSLEVUntitled62.44393.665Not SoldNot SoldNot Sold
227Nick DarmstaedterSheetrock Star (Get it in Hester Prynne)10.92815.611Not SoldNot SoldNot Sold
228Tim EitelMMK78.054109.27685.859-21.410
229Alighiero BoettiCieli ad alta quota (Skies at High Altitudes)39.02754.63839.027-28.60
230Alighiero BoettiSenza titolo (... il momento migliore è l'attimo prima della pioggia...)70.249101.47Not SoldNot SoldNot Sold
231Alighiero BoettiUna parola al vento due parole al vento tre parole al vento 100 parole al vento (A word to the wind, two words to the wind, three words to the wind, one hundred words to the wind)70.249101.4774.932-26.26.7
232Lucio FontanaConcetto spaziale, Attesa312.216468.324280.994-40-10
233Piero ManzoniLinea di lunghezza infinita (Line of Infinite Length)93.665140.497Not SoldNot SoldNot Sold
234Lucio FontanaConcetto spaziale28.09939.02781.176108188.9
235Lucio FontanaConcetto spaziale46.83262.44349.955-206.7
236Lucio FontanaConcetto spaziale312.216468.324Not SoldNot SoldNot Sold
237Marisa MerzUntitled124.886234.162249.7736.7100
238Lucio FontanaAmbiente spaziale18.73324.977Not SoldNot SoldNot Sold
239Lucio FontanaRitratto (portrait)23.41631.22256.19980140
240Giuseppe CapogrossiSuperficie 10962.44393.66562.443-33.30
241Jean DubuffetTAPIS N. 193.665124.886249.773100166.7
242Serge PoliakoffComposition abstraite (Abstract Composition)156.108234.162202.940-13.330
243Jean DubuffetL'enfle-chique III (W. 815; S. 565)78.054109.276117.0817.150
244Jean DubuffetTrois palmiers62.44393.665Not SoldNot SoldNot Sold
245Karel AppelPersonnage et oiseau (Character and Bird)78.054109.27670.249-35.7-10
246MANOLO VALDÉSRegina VI62.44393.66565.565-305
247Bernd & Hilla BecherTypology of Four: 'Water Towers', 1960s-70s12.48918.73320.2948.362.5
248Gerhard RichterVermalung (braun) (Inpainting (brown))62.44393.665Not SoldNot SoldNot Sold
249Zao Wou-KiUntitled39.02762.44328.099-55-28
250Zao Wou-KiUntitled28.09939.02717.172-56-38.9
251Chu Teh-ChunComposition (Untitled)93.665124.886280.994125200
252Chu Teh-ChunComposition (Untitled)124.886156.108374.659140200
253Zeng FanzhiUntitled 343.438437.102343.438-21.40
254Juan MuñozStanding Arab with Fez312.216468.324Not SoldNot SoldNot Sold
255Ahmed AlsoudaniUntitled124.886187.33093.665-50-25
256TALA MADANIMan In Cape4.6837.8059.36620100
257DANH VOUntitled15.61123.416Not SoldNot SoldNot Sold
258Inka EssenhighTwo Chicks Fighting18.73328.099Not SoldNot SoldNot Sold
259Jake and Dinos ChapmanCockroach Kid 23.41631.222Not SoldNot SoldNot Sold
260GRAYSON PERRYUntitled46.83262.44346.832-250
261SARAH LUCASSelfish in Bed 27.80510.92810.928040
262SARAH LUCASSex Baby7.80510.92812.48914.360
263TIM NOBLE & SUE WEBSTERVicious109.276156.108Not SoldNot SoldNot Sold
264Tracey EminI Can Feel Your Smile78.054109.276Not SoldNot SoldNot Sold
265Tracey EminMeet Me in Heaven109.276156.10893.665-40-14.3
266Damien HirstNo Love109.276156.108Not SoldNot SoldNot Sold
267TIM NOBLE & SUE WEBSTERPuny Undernourished Kid & Girlfriend from Hell156.108234.162Not SoldNot SoldNot Sold
268KEITH TYSONElemental Choreography Geno/Pheno Painting 46.83262.44354.638-12.516.7
269GED QUINNThe Ghost of a Mountain46.83262.44340.588-35-13.3
270Chantal JoffeWalking Woman23.41631.22249.95560113.3
271HENRY TAYLOR6510.92815.61115.611042.9
272Chantal JoffeUntitled6.2449.3665.464-41.7-12.5
273Douglas GordonSelf-portrait of You + Me (Edward G. Robinson)7.80510.9288.586-21.410
274JULIAN OPIENatasha, schoolgirl. 2.23.41631.222Not SoldNot SoldNot Sold
275MARC QUINNSpring in the Yucatan Peninsula109.276156.108124.886-2014.3
276ANSELM REYLEHarmony93.665124.88678.054-37.5-16.7
277VIK MUNIZMarilyn Monroe (Pictures of Diamonds)93.665124.88662.443-50-33.3
278Matthew BarneyIsis and Osiris18.73328.09937.46633.3100
279THOMAS RUFFNudes gd 0339.02754.638Not SoldNot SoldNot Sold
280THOMAS RUFFNudes hob 0231.22246.83228.099-40-10
281THOMAS RUFFNudes ca 0439.02754.63840.588-25.74
282Candida HöferTeatro alla Scala Milano V31.22246.83240.588-13.330
283Andreas GurskyGrundig Nürnberg62.44393.66565.565-305
284Vanessa BeecroftVB43.068.ali12.48918.73312.489-33.30
285THOMAS RUFFSubstrat 23 III54.63870.24949.955-28.9-8.6
286ANSELM REYLEUntitled62.44393.66562.443-33.30
288ANSELM REYLEUntitled46.83262.44343.710-30-6.7
289Sam FallsUntitled (Hartland, VT, Rain, Rope 11)15.61123.41614.050-40-10
290DAVID NOONANUntitled15.61123.416Not SoldNot SoldNot Sold
291WOLFGANG TILLMANSTurnhose (Sack)31.22246.83248.3933.355
292Gregor HildebrandtL.B. Blume (Japanese Version E.N.)7.80510.9287.805-28.60
293Gregor HildebrandtWenn Wir (nur heute) (If we (only today))7.80510.9287.805-28.60
294DAN REESGravel Painting15.61123.416Not SoldNot SoldNot Sold
295Friedrich KunathUntitled31.22246.83237.466-2020
296JOSH SMITHUntitled18.73328.09919.514-30.64.2
297STERLING RUBYInscribed Bench31.22246.832Not SoldNot SoldNot Sold
298STERLING RUBYHead Steppers 354.63870.249Not SoldNot SoldNot Sold
299MATTHIAS WEISCHERSchleife (Loop)46.83262.443Not SoldNot SoldNot Sold
300MATTHIAS WEISCHERVogel (Bird)31.22246.83285.85983.3175
301André ButzerErinnerung an Gottfried Feder (Nachricht vom Tode) (In Memory of Gottfried Feder (News of Death))18.73328.09946.83266.7150
302William Nelson CopleyStove31.22246.83273.37156.7135
303André LanskoyL'arbre trouvera son chemin (The Tree Will Find its Way)39.02746.83234.344-26.7-12
304MattaCoeur Volé39.02754.638Not SoldNot SoldNot Sold
305MattaLe protecteur du d31.22246.83243.710-6.740
306ChristoThe Umbrellas (Joint Project for Japan and USA)62.44393.66582.737-11.732.5
307JOEL SHAPIROUntitled46.83262.443Not SoldNot SoldNot Sold
308Martin KippenbergerKeiner hilft Keinem (Nobody Helps Nobody)62.44393.66562.443-33.30
309Olafur EliassonYour Intuitive Sky46.83278.05431.222-60-33.3
310JASON MARTINAmarylis46.83262.44359.321-526.7
311MARCELLO LO GIUDICEEden Blu18.73328.09985.859205.6358.3
TOTAL (Sold lots):14.878.64821.330.59717.920.570-1620.4

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Featured Images:

Gerhard Richter Vermalung(Braun), detail (Lot 187)

Antony Gormley – Construct II (Lot 322)

Image in Slider:

Damien Hirst – Shone Fornjot Manie Gemalde, detail (Lot 217)

All images courtesy of Sotheby’s.