Last night’s sale at Christie’s was the second big night of this “giga” week auction, which will see no less than half a dozen marquee sales taking place alongside Frieze and other New York fair openings.
Auction was thin in terms of lots, but mighty in terms of price and sell-through rate, including the stars. The mood was energetic and lively as Christie’s achieved all of its major goals for the night.
Below is the story in numbers…
Total sales after fees: $98.8 million
Lots sold, including guaranteed lots: 25
Lots offered before withdrawals: 27
Lots withdrawn Presale: 1
Lots purchased: 1
Sale rate including withdrawals: 92 percent
Sale rate excluding withdrawals: 96 percent
Total Hammer: $83.625 million
Low pre-sale estimate before withdrawals: $63.54 million
Hammer Total vs Presale Low Estimate: +$20.1 million
Total low estimate of withdrawn batches: $800,000
Total Low Estimate of Guaranteed Lots: $51.3 million
Lots with house guarantees: 2
Total low estimate of guaranteed third-party prizes: $49.5 million
Lots with Third Party Guarantees: 3
Top rated seller: Jean-Michel Basquiat El Gran Espectaculo (The Nile) (1983), hammered at $58 million ($67.11 million after fees)
quote of the night: “Are we all ready for this?” said auctioneer Georgina Hilton before opening bids on the $40 million Basquiat.
Next sale: Sotheby’s Mo Ostin Collection Evening Sale, followed by its Modern Evening Sale, May 16
Check back throughout the week for our continuing coverage of this spring’s sales slate.
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