Sotheby's Contemporary Art Day

February 13, 2015

Today's we continue where we stopped yesterday - it's time for the auction analysis of Sotheby's Contemporary Art Day, that took place on February 11th (you should also check out analysis on Sotheby’s Contemporary Art Evening auction). When we look at the numbers, we could see that this auction was fairly successful, with some extraordinary results, but, with some disappointments as well. Particularly, some of the artwork of Joseph Beuys, Gerhard Richter and Fausto Melloti completely exceeded expectations.

Sotheby's 2015
Gerhard Richter - Abstractes Bild (P1) (Picture courtesy of Sotheby's)

The Big Picture

Total of 231 lot have been sold, out of possible 293, which translates into solid 78.8%. When we look at much more interesting data - the money spent - this Sotheby's Contemporary Art Day auction scored 21.135.638 US dollars. That's 1,2 percent more than total of high estimated prices for sold lots (which was $20.878.143), and 44.1% more than total of low estimated prices for sold lots. There were 93 lots sold over high estimate, or 40,3 percent of all sold lots. Similarly, 91 lot went in estimated range (39,4 percent), and 20,3% of sold lots were paid under low estimate (total of 47 lots).

Sotheby's 2015
Gio Pomodoro - Coesistenza (Picture courtesy of Sotheby's)

Sotheby's 2015
Fausto Melotti - Scultura No. 14 (Picture courtesy of Sotheby's)

The Winners of the Sotheby's Contemporary Art Day Auction

The biggest hammerprice had Peter Doig's Cold Blooded painting, oil on canvas, that was sold for $1.606.374, with high estimated price just over 914 thousand, so the spread for hammerprice and high estimated price was 75,7 percent. Number two on highest price list from the Sotheby's Contemporary Art Day auction was Christopher Wool and his piece Untitled (D387) that changed owner for $692.075 (51,4 percent more than high estimated price). Third was Andy Warhol's Dollar Sign, which reached $524.452 (14,7 percent more than its high estimate). But, when we look at the difference between the high estimated price and hammerprice, the list of winners changes completely. First of all, there's Gerhard Richter's Abstraktes Bild (P1) that was estimated to go as high as $9.143. The result? It went for $50.287, a whooping 450% more than the optimistic estimate. Then, there's Stefan Muller's Soft-Hardedge that was sold for $12.191 (433,3% of high estimate), Fausto Melloti's Scultura No.14 went for $250.163 (310,4%), while Joseph Beuys' painting (pigment, oil, ink, turpentine and pencil on paper) labeled Frau/Tierschadel (Woman/Animal Skull) was sold for $219.686, or 260,4 percent more than its high estimated price.

Sotheby's 2015
Peter Doig - Cold Blooded (Picture courtesy of Sotheby's)

Sotheby's 2015
Gerhard Richter - 5.Nov.1995 (Courtesy of Sotheby's)

Miscellaneous on Wednesday's Sotheby's Contemporary Art Day Auction

Out of 11 total works of Andy Warhol, 10 were sold, but three of them went for the low estimated price and four above high estimate. Two Banksy's works were sold for total of 372.070 dollars. Also, there were six artworks of Gerhard Richter at the auction, and all were sold for $1.386.183, although their total high estimated price was 1.487.268 dollars - the total price was almost seven percent less than the high estimated total. It was a bit of surprise that three out of four works of Walead Beshty weren't sold, though the fourth one went for the high estimated price. All three Karel Appel's works were sold, as well as Gregor Hildebrandt's. Also, 6 out of 7 total Joseph Beuys' work were successfully sold.

Next page: Sotheby's Contemporary Art Day in Details

Sotheby's 2015
Agnieszka Brzezanska - Untitled (Courtesy of Sotheby's)

Sotheby's 2015
Harold Ancart - Untitled (Picture courtesy of Sotheby's)

Sotheby's 2015
Joseph Beuys - Frau/Tierschadel (Woman/Animal Skull) (Picture courtesy of Sotheby's)

Sotheby's Contemporary Art Day in Details

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Featured image: Sabine Moritz-Aurora I (detail) (Courtesy of Sotheby's)