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Christie's: Prints and Multiples Auction Analysis

  • Christie's
  • Christie's
  • Christie's
  • Christie's
  • Christie's
March 21, 2015

In Christie’s auction house in London on Wednesday, March 18, Prints and Multiples auction has taken place. It was yet another auction where you could find works of artists from many different art periods – from Albrecht Dürer and Harmensz. van Rijn Rembrandt to some of the greatest names of 20th century – Pablo Picasso and Andy Warhol. The latter two artists also had the most works auctioned at Christie’s Prints and Multiples on Wednesday – Picasso had 34, and Warhol had 9 lots.

Andy Warhol – $ (4), 1982 (Lot 123)

Christie’s: Prints and Multiples – The Overview

Of course, we will only focus on contemporary artists and their work. Out of total of 107 lots at Christie’s, 43 were contemporary art and 33 of them were sold, which was a solid 76.7 percent. Just 9 lots were sold over their respective high estimated prices – 20.9 percent of all lots, and 27.3 percent of sold lots. Most of sold lots changed owners for prices that were in range of their estimated values, a total of 14 lots, or 42.4 percent of sold lots. Ten lots changed hands for prices that were less than their low estimates, and that was 30.3 percent of number of sold lots. These 43 lots that were sold on March 18 at Christie’s, made combined price of $1,126,817, which was -14 percent difference from the total of their high estimated prices ($1.31 million), but was +27.3 percent on sum of their low estimates ($884,863).

Gerhard Richter – Wolke, 1971 (detail) (Lot 147)

The Best Individual Results

Out of top three best-selling lots of the day, at least when we speak of contemporary art, two was Andy Warhol’s. His work $ (4) achieved the highest price of the auction amongst contemporary artists, as it was sold for $225,388, just $3,000 under its high estimate. Lucian Freud’s Eli had hammer price at $129,058, which was good for +5.9 percent difference from its low estimate, and third was Warhol’s Marilyn, with hammer price at $114,238. These three works were the only ones that reached six-figure prices. At number four, Francis Bacon’s Miroir de la Tauromachie was sold with almost +9 percent difference above its high estimate, and just under $100,000 ($99,418). Cy Twombly’s Natural History, Part II: Some Trees of Italy underachieved a bit, as it was sold for $59,280, and it was estimated at $60,920 – $91,380. Lucian Freud’s Woman with an Arm Tattoo was also estimated at that range, but was sold for $56,316. Every other lot did not reached $50,000. Also, as only 9 lots had their hammer prices above their high estimates, there were not much spectacular results when it comes to the difference between the hammer price and the high estimated price. The only lot who was really successful in this field was Roy Lichtenstein’s Crak!, which was estimated at $7,615 – $10,661, and was sold for $21,489, or with +101.6 percent difference.

Roy Lichtenstein – Crak!, 1963-64 (Lot 120)

The Unsold and Underperforming at Christie’s: Prints and Multiples

Out of total of 10 lots that weren’t sold, the highest estimated value had Lucian Freud’s Blond Girl, with the estimate range at $60,920 – $91,380. Richard Hamilton’s The Solomon R Guggenheim ($45,690 – $76,150), Marlene Dumas’ Purple Pose; Snowflake; Dorothy D-lite ($30,460 – $45,690) and Francis Bacon’s Three Studies for a Self-Portrait ($30,460 – $38,075) also had their estimated prices fairly high, but weren’t sold. When we talk about which lot was sold with the highest negative difference between their low estimate and hammer prices, there also weren’t spectacular lows, as Andy Warhol’s Speed Skater had the worst result with -10.8 difference. However, the most unsuccessful artist of the auction was Sam Francis, as four of his five auctioned works weren’t sold.

Please, scroll down to see the detailed information for every lot that was on auction on Wednesday at Christie’s.

  • Christie's
  • Christie's

Christie's: Prints and Multiples in Details

Total number of lots:43
Number of sold lots:33
Sold lots [%]:76.7
Number of sold lots over high estimate:9
Over high estimate (Total) [%]:20.9
Over high estimate (Sold) [%]:27.3
Number of sold lots in range of estimated values:14
In range of estimated values (Sold) [%]:42.4
Number of sold lots under low estimate:10
Under low estimate (Sold) [%]:30.3
Results were under estimate spread of [%]:32.3
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
113Bruce NaumanPerfect Door, Perfect Odor, Perfect Rodo761510661111154.346
114Cy TwomblyNatural History, Part II: Some Trees of Italy609209138059280-35.1-2.7
115Richard HamiltonPicasso's Meninas274143807535568-6.629.7
116Richard HamiltonThe Solomon R Guggenheim4569076150Not SoldNot SoldNot Sold
117Roy LichtensteinOn152302284514820-35.1-2.7
118Roy LichtensteinStill Life with red Jar76151066110078-5.532.3
119Roy LichtensteinShipboard Girl15230228452519410.365.4
120Roy LichtensteinCrak76151066121489101.6182.2
121Andy WarholMarilyn761501066101142387.250
122Andy WarholMick Jagger228453807532604-14.442.7
123Andy Warhol$ (4)152300228450225388-1.348
124Andy WarholHammer and Sickle456906092044460-27-2.7
125Andy WarholThe Marx Brothers, from: Ten Portraits of Jews of the Twentieth Century1827627414281582.754.1
126Andy WarholSpeed Skater9138121848151-33.1-10.8
127Andy WarholOne plate, from: Ladies and Gentlemen456976154446-41.6-2.7
128Andy WarholAfter the Party106611523012597-17.318.2
129Andy WarholLove2284538075385321.268.7
130Sam FrancisUntitled913812184Not SoldNot SoldNot Sold
131Sam FrancisUntitled913812184Not SoldNot SoldNot Sold
132Sam FrancisKing Corpse106611523010374-31.9-2.7
133Sam FrancisPioggia d'Oro, from: Le Cinque Stagioni (Golden Rain, from: The Five Seasons)761510661Not SoldNot SoldNot Sold
134Sam FrancisLa Primavera Fredda, from: Le Cinque Stagioni (Cold Spring, from: The Five Seasons)761510661Not SoldNot SoldNot Sold
135Francis BaconThree Studies for a Self-Portrait3046038075Not SoldNot SoldNot Sold
136Francis BaconTriptych 1987 (Central Panel)609291385632-38.4-7.6
137Francis BaconLogique de la Sensation91381218410374-14.913.5
138Francis BaconTriptych August 1972228453046022230-27-2.7
139Francis BaconSecond Version, Triptych 19442284530460Not SoldNot SoldNot Sold
140Francis BaconMiroir de la Tauromachie6092091380994188.863.2
141Francis Bacon609291387410-18.921.6
142Lucian FreudBlond Girl6092091380Not SoldNot SoldNot Sold
143Lucian FreudWoman with an Arm Tattoo609209138056316-38.4-7.6
144Lucian FreudEli121840182760129058-29.45.9
145Lucian FreudThe Painter's Doctor182762741419266-29.75.4
146Gerhard RichterBahnhof (Hannover)456976156669-12.446
147Gerhard RichterWolke456976157410-2.762.2
148Gerhard RichterSeestück II609291388151-10.833.8
149Gerhard RichterSeestück II45697615889216.894.6
150Gerhard RichterTeydelandschaft3046456947423.855.7
151Gerhard RichterMeer456976156225-18.336.2
152Gerhard Richter and Blinky PalermoTelefon609291388892-2.746
153Christopher WoolBlack Book304604569029640-35.1-2.7
154Marlene DumasPurple Pose; Snowflake; Dorothy D-lite3046045690Not SoldNot SoldNot Sold
155Jake and Dinos ChapmanMy Colouring Book761510661Not SoldNot SoldNot Sold
TOTAL (Sold lots):88486313097801126817-1427.3

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Roy Lichtenstein – Still Life With Red Jar, 1994 (detail) (Lot 118)
Lucian Freud – Woman with an Arm Tattoo, 1996 (Lot 143)
Andy Warhol – Speed Skater, 1983 (detail) (Lot 126)
Lucian Freud – Eli, 2002 (detail) (Lot 144)
Francis Bacon – Logique de la Sensation, 1981 (detail) (Lot 137)
Cy Twombly – Natural History, Part II – Some Trees of Italy, 1975-1976 (Lot 114)
Gerhard Richter – Seestück II, 1970 (detail) (Lot 149)

Andy Warhol – One Plate, from Ladies and Gentleman, 1975 (detail) (Lot 127)
Featured images: Andy Warhol – Mick Jagger, 1975 (detail) (Lot 122) and Roy Lichtenstein – On, 1962 (detail) (Lot 117).

Also in sliders: – Sam Francis – King Corpse, 1986 (detail) (Lot 132) – Marlene Dumas – Purple Pose; Snowflake; Dorothy D-lite, 1999 (Lot 154) – Francis Bacon – Miroir de la Tauromachie, 1990 (Lot 140) – Christopher Wool – Black Book, 1989 (Lot 153) – Roy Lichtenstein – Shipboard Girl, 1965 (detail) (Lot 119)