A very profitable auction was held at Christie’s in South Kensington, London on Wednesday, April 22. The auction called Christie’s Prints and Multiples - First Impressions, or, its contemporary part, sold 103 out of 141 contemporary art lots, which makes a great 73%. Twenty-four lots were sold over high estimate – 17% of total number of lots and 23.3% of sold lots. Under low estimate 37 lots were sold which makes it 35.9% of sold lots. Forty-two lots had its hammer price in range of estimated value and it makes 40.8% of sold lots. The total of 103 contemporary art sold lots went for $469.837 which was only 8.6 percent lower than the sum of high estimates of sold lots ($513940) and 35.5 percent higher than the sum of low estimates of sold lots ($346669). Although, Damien Hirst’s works were highly estimated and are very popular, the hammer price stayed in the range of the estimate. On the other hand, Gerhard Richter’s and Banksy’s work achieved great hammer high estimate difference.
Andy Warhol’s Mao went for the highest price hammered at $33004 but it stayed in the estimate range with 12 percent under the high estimate. The biggest high estimate percentage with 166.7% was achieved with Gerhard Richter’s One Plate sold for $6601 (it was estimated from $1500 - $2250). As above mentioned, Banksy’s No Ball Games estimated from $3750 - $5251 changed the owner for $12001 and achieved hammer high estimate difference with 128.5 percent. Claes Oldenburg’s Broken Button was sold for more than a double of the high estimate at $5251. Similar was seen with the sale of the lot 56 and Pierre Soulages Eau-Forte No 11 with high estimate at $4500 and hammer price of $9751. Pumpkin from Yayoi Kusama was sold for $6751 achieving the hammer high estimate difference of 125%.
Some of the contemporary lots were a big shortfall at Christie’s Prints and Multiples. Not even one out of three George Segal’s were sold, only one out of three James Rosenquist's artworks was sold with 33% of hammer low estimate difference. Three out of five Christo’s works were sold for the price under the low estimate, while his Wrapped Spiegel had a hammer price at the high estimate. Zao Wou-Ki’s works were either sold in the estimate range or not sold at all, with 7 artworks sold in total. Sol Lewitt’s One Plate, with a low estimate at $1500 was sold for $1425, at 5 percent under the low estimate. Damian Hirst’s artworks enjoyed a steady hammer price in the estimate range, while only Kindness achieved hammer price over the high estimate with 14.3%.
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Banksy - No Ball Game, 2009, (lot 64)
Tom Wesselman - Bedroom Face, 1977, (lot 98)
Antoni Tapies - Oval I Blanc, 1982, (lot 143)
Yayoi Kusama - Pumpkin, 2000, (lot 94)
Sol LeWitt - Irregular Zigzag Bands, 2006, (lot 21)
Christo - Wrapped Hay, 1973, (lot 61)
All images are courtesy of Christies's.
London, United Kingdom