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Published2nd March 2017
No. Pages8
ResearchersPeter Gerdman,
Report TypeAuction Analysis

Auction Analysis: London Impressionist & Modern Auctions – March 2017

LONDON IMPRESSIONIST & MODERN AUCTIONS – FEB / MARCH 2017

The Impressionist and modern art evening sales in London this week raised a total of £234,845,000 (excluding buyer’s premium), against a total pre-sale estimate of £199,840,000 to £273,100,000 (this analysis and all results excludes the Surrealist art evening sales held in conjunction with the Impressionist and modern art sales). The total between Sotheby’s and Christie’s was 87% higher than in February 2016, and 108.9% above the June results last year.

Christie’s kicked off the auction week in London with a 50 lot strong Impressionist & Modern Art Evening Sale on the 28th of February, which achieved £80.6 million. This was comfortably within the pre-sale estimate range of £65.8 million to £96.7 million and 40.8% above their sales total in February 2016.

This was followed by Sotheby’s evening sale on the 1st of March, which achieved a total of £154.3 million, coming in at the middle of the pre-sale estimate range of £134.1 million to £176.5 million. Sotheby’s result more than doubled from February 2016 (up 125.7% from £68.4 million).

Sotheby’s took a leading market share of 65.7% (up from 54.4% in February 2016) from Christie’s, who ended up with a 34.3% market share (down from 45.6% in February 2016).


REPORT CONTENT:
COMPARATIVE PERFORMANCE (CHRISTIE’S AND SOTHEBY’S).
TOTAL SALES VS ESTIMATE (2012 – 2017).
AVERAGE PRICES 2012 – 2017.
HAMMER VS ESTIMATE RATIOS 2012 – 2017.
AUCTION GUARANTEE ANALYSIS.
AUCTION FLOW ANALYSIS (VISUAL REPRESENTATION OF THE AUCTION RHYTHM)
MEDIUM ANALYSIS 2012 – 2016.

 

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The average auction price for Christie's and Sotheby's combined evening sales of Impressionist and modern art came in at a 5-year high of £3,049,935.