Auction Analysis: London Post-War & Contemporary Auctions – Oct 2016

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London Post-War & Contemporary evening auctions deliver positive results, with 15.5% growth in sales compared to October 2015

The Post-War & Contemporary Evening sales in London this October, including Post-War and Contemporary art from ‘The Leslie Waddington Collection’ Sale at Christie’s, raised a total of £101,059,500 (excluding buyer’s premium).  This was against the total pre-sale estimates of £60,996,000 to £86,733,000.  Most noteworthy is the total among Sotheby’s, Phillips, and Christie’s was 15.5% higher than October 2015.

Especially relevant, the top 10 lots raised £50.55 million. This accounted for 50% of the total sales value.  Furthermore Sotheby’s achieved the top two prices across all sales for Basquiat’s ‘Hannibal’ from 1982 and Richter’s ‘Garten’ (1982). Notably the former sold for £9.3 million (with an estimate of £3.5-4.5 million). The latter sold for £9 million (against pre-sale estimates of £3-4 million).

Report Content:

Comparative Performance (Christie’s, Sotheby’s and Phillips).

Total sales vs estimate (2008 – 2016).

Average prices 2008 – 2016.

ArtTactic Confidence Indicators.

Auction Guarantee Analysis.

Auction Heatmap (visual representation of the auction rhythm)

Top 10 Auction Prices.

London evening auctions deliver positive results, with 15.5% growth in sales compared to October 2015