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Christie's - Post War and Contemporary Art Day Auction Analysis

  • Christie's London
  • Christie's London
  • Christie's London
July 6, 2015

The Post War and Contemporary Day Auction at Christie’s London showed what we have already known after this week’s Contemporary art evening sales at London – Christie’s didn’t win the battle with Sotheby’s. And while the Post War and Contemporary Evening Auction at Christie’s was a good one, both in terms of percentage of sold lots and total money gathered – just not that big as Sotheby’s – the Day Auction was considerably less successful. It had less than three-quarters of sold lots, and the total value of sold lots was way bellow the sum of low estimates, when looking the auction in total.

Christie’s versus Sotheby’s Contemporary Art Sales in London

As you, perhaps, have already heard, Sotheby’s had the second highest Contemporary art sale in Europe ever, and fell shy for just $3.9 million in pursue of Christie’s record. Sotheby’s evening sale achieved $176.4 million, and that was more than Christie’s evening and day sales combined – Christie’s totalled $146.9 million out of its contemporary art sales in London. However, if you look at the total estimated values of combined evening and day sales at both auction houses, things look a bit different. Sotheby’s did hit big numbers, but was expected to score much bigger – its total estimate for evening and day sale was way beyond the actual score: instead of achieved $198.7 million, people from Sotheby’s were expecting something in the range of $243.5 – $347.7 million (the estimated value for sold lots was $153.7 – $217.4 million). Christie’s sales, combined, was more solid ones. The total worth of two days sale was $146.9 million, but that was less than $2 million under the low estimate for both auctions combined (total estimate was $148.5 – $208.8 million, and $123.4 – $172.1 million for sold lots). So, in a word, Sotheby’s auctions were bigger, but they were also meant to be big – bigger than the actual result. Christie’s auctions were more modest to begin with (if something like “modest” could be told about $150 million worth of auctions).

  • Christie's London
  • Christie's London

Robert Longo - An Unsuspected Winner in London

There were four lots that had higher value than Robert Longo’s Untitled (Last Tiger), but none of those four wasn’t sold for anything near $842,983 as Longo’s Tiger did, and one was left unsold – Jean-Michel Basquiat’s Untitled. Also, several top priced lots were sold at or under low estimate, while five lots that were estimated between $230 and $470 thousand didn’t find a buyer – works by Georg Baselitz, Barry Flanagan, Lucio Fontana, Juan Muñoz and Richard Serra.

If you look at which lots have exceeded the expectations prior to the auction, you could see that those were mostly low-to-middle priced artworks, priced between $10,000 and $50,000. Claude Lalanne’s Hanoukia was sold for a price that was more than five times bigger than its high estimate (+420 percent difference), Jean Dubuffet’s Portrait d’Homme II had its hammer price four times bigger than high estimate (+300 percent), Stefan Brüggemann’s Stuck or Puddle Painting 3 had +220 percent, and Marcello Lo Giudice’s Eden Blu was sold with +205.6 percent difference.

Christie's London
Cy Twombly – Untitled, 1964 (Lot 143). Estimated at $312,216 – $468,324, sold under low estimate, for $241,967.
Christie's London
Kenneth Noland – Amend, 1979 (Lot 165). Estimated at $234,162 – $312,216, sold under low estimate, for $218,551.
Christie's London
Tom Wesselmann – Monica Nude In Robe And Stockings (Variation #7), 1986 (Lot 188). Estimated at $187,330 – $280,994, sold for $257,578.
Christie's London
Left: Lucio Fontana – Concetto Spaziale, Attesa, 1966 (Lot 232). Estimated at $313,600 – $470,400. / Right: Sherrie Levine – Loulou, 2004 (Lot 125). Estimated at $124,886 – $187,330, sold for $148,303.
Christie's London
Left: Antony Gormley – Another Time XVII, 2012 (Lot 205). Estimated at $187,330 – $280,994, sold for $202,940. / Right: Jean Dubuffet – Portrait d’Homme II, 1966 (Lot 185). Estimated at $62,443 – $93,665, sold for $374,659, or with +300 percent difference between hammer price and high estimate – the second best result of the auction.
  • Christie's London

Post War and Contemporary Day Auction Results

Out of total 211 auctioned lots, 158 were sold at Post War and Contemporary Day Auction at Christie’s London on July 1 (74.9 percent). These 158 lots were sold for $17.9 million, and the average hammer price was $113,421. Almost half lots (45.6 percent) were sold in range of estimated values, 21.8 percent of lots were sold over high estimate, and 25.3 percent under low estimate.

Bellow, you will find two tables with the summary of this auction, and with detailed information on every lot that was put on sale in London.

Total number of lots:211
Number of sold lots:158
Sold lots [%]:74.9
Total [$]:17.920.570
Number of sold lots over high estimate:46
Over high estimate (Total) [%]:21.8
Over high estimate (Sold) [%]:29.1
Number of sold lots in range of estimated values:72
In range of estimated values (Sold) [%]:45.6
Number of sold lots under low estimate:40
Under low estimate (Sold) [%]:25.3
Results were under estimate spread of [%]:30.5
Max Hammer [$]:842.983
Average Hammer [$]:113.421
Median Hammer [$]:67.907
Median Hammer Average Hammer Difference [%]:-40.1
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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All images courtesy of Christie’s.