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Sotheby's New York: Contemporary Art Evening Auction Analysis

  • sothebys, new york, auction analysis
  • sothebys, new york, auction analysis
  • sothebys, new york, acution analysis
May 13, 2015

Yet another very successful auction was held at Sotheby’s New York on May 12, 2015. At Sotheby’s New York: Contemporary Art Evening, a great number of 87.3 percent of lots were sold, or 55 out of 63 lots, all of which were sold for satisfying amount of $329945000, some $50000000 less than the total of high estimates (-13.4 percent) and around $35000000 over the total of low estimates (11.6 percent). Eighteen lots were sold at hammer price over the high estimate, making that a 32.7 percent, as opposed to 15 lots, or 27.3 percent sold for the amount under the low estimate. In range of estimate values 22 lots, or 40 percent, were sold. Results of the auction were under the spread of 22.9 percent. Average hammer price for these 55 sold lots was $5999000. Median hammer is at $2900000 making the median hammer and average hammer difference -51.7 percent. The highest hammer price was seen in the sale of lot 11, Mark Rothko’s Untitled (Yellow and Blue), which was sold for $41250000. The biggest hammer high and hammer low difference was seen in the sale of lot 1, Mark Bradford’s Smear, estimated between $500000 and $700000, changed its owner for a sum of $3700000.

  • sothebys, new york, auction analysis

The Best Individual Results at Sotheby's New York: Contemporary Art Evening

Two individual records were broken at Sotheby’s New York: Contemporary Art Evening auction as two artists achieved the highest prices ever on the auction sales of their artworks: Christopher Wool’s Untitled, estimated between $12000000 and $18000000, was sold for $26500000 and scored 47.2 percent of hammer high estimate difference, while Sigmar Polke’s Dschungel, estimated at $20000000 went for $24000000, 20 percent over the estimate. The biggest hammer high and hammer low difference was seen in the sale of lot 1, Mark Bradford’s Smear, estimated between $500000 and $700000, changed its owner for a sum of $3700000, and scored a stunning 428.6 percent of hammer high estimate difference, and 640 percent over the low estimate price. Helen Frankenthaler’s Saturn Revisited, estimated between $600000 and $800000, surpassed all expectation with the hammer price of $2350000, scoring 193.8 percent high estimate hammer difference. Danh Vo’s Alphabet scored  130 percent over high hammer estimate difference with the hammer rice of $575000. Ever popular Andy Warhol was one of the highlights of the auction with the sale of Diamond Dust Shadows for $4300000, and although estimated between $1800000 and $2200000, it surpassed the high estimate for 95.5 percent. Untitled (Into and Behind The Green Eyes of The Tiger Monkey Face) by Mark Grotjahn was sold for $5600000, achieving 86.7 percent over the high estimate set at $3000000.

  • sothebys, new york, auction analysis

Highs and Lows of Sotheby's New York: Contemporary Art Evening

Some pretty high prices were seen at Sotheby’s New York: Contemporary Art Evening auction. The highest hammer price was seen in the sale of lot 11, Mark Rothko’s Untitled (Yellow and Blue), which was sold for $41250000, but since had the high estimate of $60000000, it scored a negative 31.3 percent of hammer high difference. Roy Lichtenstein was, again, one of the most expensive artists to be put on a bid: estimated at $50000000, it was sold for a humble price of $37000000, having a negative score compared to both low and high estimated value. Although Gerhard Richter’s Abstraktes Bild was sold for a large sum of money – $25000000, it failed to meet estimated goal set at $30000000, missing it for 16.7 percent. Alongside these three, another two lots we have already mentioned have scored very high results – artworks by Christopher Wool and Sigmar Polke. On the other hand, some of the lots turn out to be a bit of a disappointment. Williem De Kooning’s Untitled, estimated between $8000000 and $12000000 changed its owner for $5200000, achieving negative differences compared to both low (35 percent) and high (56.7) estimated values. Tilted Head from John Curin also did not surpassed both high and low estimate, and with hammer price of $600000, it missed high estimate by 33.3 percent and low estimate by 14.3 percent. Robert Ryman’s Note, although with a high estimate at $1200000, swapped the owners hands for $950000, failing to meet the high estimate for 20.8 percent.

  • sothebys, new york, auction analysis

Sotheby's New York: Contemporary Art Evening In Details

Please, take a look at our detailed analysis below and scroll down for artworks that scored notable results at Sotheby’s New York: Contemporary Art Evening auction.

Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
1Mark BradfordSmear5000007000003700000428.6640
2Mark GrotjahnUntitled (Into And Behind The Green Eyes Of The Tiger Monkey Face 43.18)20000003000000560000086.7180
3Frank StellaSacramento No. 6200000030000002550000-1527.5
4Cy TwomblyUntitled400000060000004300000-28.37.5
5Ed RuschaOk3000000400000046000001553.3
6Andy WarholSuperman600000080000001260000057.5110
7Christopher WoolUntitled (Riot)12000000180000002650000047.2120.8
8*Sigmar PolkeDschungel (Jungle)2000000020000000240000002020
9Christopher WoolUntitled300000040000003300000-17.510
10Ellsworth KellyWhite Yellow500000700000100000042.9100
11Mark RothkoUntitled (Yellow And Blue)400000006000000041250000-31.33.1
12Andy WarholDiamond Dust Shadows18000002200000430000095.5138.9
13Robert RymanNote8000001200000950000-20.818.8
14Roy LichtensteinVicki! I - I Thought I Heard Your Voice! (Study)120000018000001050000-41.7-12.5
15*Roy LichtensteinThe Ring (Engagement)500000005000000037000000-26-26
16Alexander CalderUntitled20000003000000420000040110
17Yayoi KusamaInterminable Net #3500000070000005000000-28.60
18Willem De KooningYellow Woman600000080000005500000-31.3-8.3
19Andy WarholMao130000001600000012700000-20.6-2.3
20Robert RymanMedia50000007000000Not SoldNot SoldNot Sold
21Sigmar PolkeUntitled200000030000002900000-3.345
22*Gerhard RichterAbstraktes Bild300000003000000025000000-16.7-16.7
23David HammonsUntitled (Basketball Drawing + Stone)150000020000001300000-35-13.3
24Danh VôAlphabet (L) 150000250000575000130283.3
25Richard PrinceWhat A Kid I Was (3 Times)350000045000003550000-21.11.4
26Glenn LigonWhite #2180000025000002100000-1616.7
27Jean-Michel BasquiatWorld Crown70000001000000010000000042.9
28Andy WarholLittle Electric Chair400000060000003500000-41.7-12.5
30David SmithAgricola Vi300000040000002900000-27.5-3.3
31Jackson PollockNumber 12, 1950150000002000000016100000-19.57.3
32Alexander CalderTic Tac Toe200000030000002150000-28.37.5
33Yves KleinAccord Bleu (Re 52)8000000120000007800000-35-2.5
34Willem De KooningUntitled (Blue Profundity)120000018000001400000-22.216.7
35Richard DiebenkornOcean Park #418000000120000007800000-35-2.5
36Franz KlineFlanders600000080000008000000033.3
37Isamu NoguchiThe Gunas1500000200000026000003073.3
38Willem De KooningUntitled8000000120000005200000-56.7-35
39Ed RuschaTruth35000005000000Not SoldNot SoldNot Sold
40David HammonsUntitled200000030000001900000-36.7-5
41Jean-Michel BasquiatUntitled8000001200000850000-29.26.3
42Jean-Michel BasquiatUntitled300000060000003000000-500
43Maurizio CattelanUntitled120000018000001200000-33.30
44Dan ColenThe Inextinguishable25000035000045000028.680
45Ed RuschaGoods And Services600000800000800000033.3
46Jeff KoonsGazing Ball (Centaur And Lapith Maiden)18000002500000Not SoldNot SoldNot Sold
47Takashi MurakamiKorin: Dark Matter500000700000650000-7.130
48Damien HirstDark Joy500000700000520000-25.74
49John CurrinTilted Head700000900000600000-33.3-14.3
50Anselm KieferLe Dormeur Du Val600000800000110000037.583.3
51Urs FischerA Thing Called Gearbox8000001400000750000-46.4-6.3
52Thomas StruthPantheon, Rome800000120000015000002587.5
53Paul MccarthySanta Long Neck8000001200000700000-41.7-12.5
54Cindy ShermanUntitled #15320000003000000Not SoldNot SoldNot Sold
55Joan MitchellLe Temps Des Lilas2500000350000036000002.944
56Helen FrankenthalerSaturn Revisited6000008000002350000193.8291.7
57Cy TwomblyUntitled (New York City)50000007000000Not SoldNot SoldNot Sold
58Richard DiebenkornTwo Women At Table150000025000002100000-1640
59Willem De KooningTwo Figures In Devon20000003000000Not SoldNot SoldNot Sold
60David HockneyFruit In A Chinese Bowl8000001200000160000033.3100
61Andy WarholBrillo Painting (3 ₵ Off)800000120000015000002587.5
62Alexander CalderUntitled150000020000001800000-1020
64Richard PrinceStrange600000800000Not SoldNot SoldNot Sold
65Yoshitomo NaraCup Kids15000002000000Not SoldNot SoldNot Sold
TOTAL:317100000411200000329945000-19.84.1
TOTAL (Sold lots):295700000380900000329945000-13.411.6
Total number of lots:63
Number of sold lots:55
Sold lots [%]:87.3
Total [$]:329945000
Number of sold lots over high estimate:18
Over high estimate (Total) [%]:28.6
Over high estimate (Sold) [%]:32.7
Number of sold lots in range of estimated values:22
In range of estimated values (Sold) [%]:40
Number of sold lots under low estimate:15
Under low estimate (Sold) [%]:27.3
Results were under estimate spread of [%]:22.9
Max Hammer [$]:41250000
Average Hammer [$]:5999000
Median Hammer [$]:2900000
Median Hammer Average Hammer Difference [%]:-51.7

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sothebys, new york, acution analysis
Sigmar Polke – Dschungel (Jungle), 1967 (Lot 8), Sold at $24000000, a record for the artist at the auction.
sothebys, new york, acution analysis
Left: Christopher Wool – Untitled (Riot), 1990, (lot 7), Sold at $26500000 a record for the artist at the auction. / Right: Mark Rothko – Untitled (Yellow and Blue), 1954, (lot 11), Maximum hammer price was achieved in the sale of this lot at $41250000.
sothebys, new york, acution analysis
Jean-Michel Basquiat – World Crown, 1981 (Lot 27), Achieved a superb price at $10000000, matching the high estimate.
sothebys, new york, acution analysis
Andy Warhol – Mao, 1973 (Lot 19), Sold at the auction at a great price of $12700000.
sothebys, new york, acution analysis
Jackson Pollock – Number 12, 1950 (Lot 31), Changed owner for the outstanding price of $16100000.
sothebys, new york, acution analysis
Left: Andy Warhol – Diamond Dust Shadows, 1979, (lot 12) / Right: Gerhard Rihter – Abstraktes Bild, 1992, (lot 22), One of the most expensive lots of recently finished auction with the price of $25000000.
sothebys, new york, acution analysis
Danh Vo – Alphabet (L), 2011, (lot 24)
sothebys, new york, acution analysis
Willem de Kooning – Untitled, 1977 (Lot 38)
sothebys, new york, acution analysis
Yayoi Kusama – Interminable Net #3, 1959 (Lot 17)
sothebys, new york, acution analysis
Robert Ryman – Media, 1981 (Lot 20)
sothebys, new york, acution analysis
Cy Twombly – Untitled (New York City), 1956 (Lot 57)
sothebys, new york, acution analysis
John Curin – Tilted Head, 2014, (lot 49)
sothebys, new york, acution analysis
Left: Mark Bradford – Smear, 2015, (lot 1) / Right: Helen Frankenthaler – Saturn Revisited, 1964, (lot 56)
sothebys, new york, acution analysis
Andy Warhol – Little Electric Chair, 1964-65 (Lot 28)
sothebys, new york, acution analysis
Alexander Calder – Untitled, 1963 (Lot 16) (detail)

Featured images:

Roy Lichtenstein – The Ring (Engagement), 1962, (lot 15)

Yves Klein – Accord Bleu (RE 52), 1958, (lot 33)

Jean-Michel Basquiat – Untitled, 1986, (lot 41)

Slider images:

Ed Ruscha – Goods and Services, 2012, (lot 45)

Andy Warhol – Brillo Painting, 1964, (lot 61)

Yoshitomo Nara – Cup Kids, 1995, (lot 65)

All images are courtesy of Sotheby’s.