Results: Sotheby's London Impressionist Modern Sale

After the excitement about the record Miro sale of $36.9 million (including buyers premium) the rest of the sale was much less spectacular.  The sale offered 48 lots, with 33 selling for a rather anemic 68.8% buy through rate.  The 33 lots which sold totaled $117.68 million including buyers premium.  The pre sale estimate low was $114.7 million and the high was $161.43 million.  The sale sold a fair 81.3% by value, which shows the painting which did sell, did fairly well.  Of the top ten sales, half sold for above the high estimate, and half sold within the estimate with many just crossing the low threshold.  Of the top ten 6 were listed as anonymous buyers and 4 as private collectors.

Further Statistics:
 The average lot value of the works sold was £2,275,843.
 33% of the works sold realized prices above high estimate.
 23 works sold for over $1 million
 15 works sold for over £1 million.

Beyond the glowing press release by Sotheby's on the sale of the Miro, there was little of substance said about the rest of the sale.  As usual, I am anxious to see the investment results from this sale when Mei Moses analyzes the results.  The Miro was previously sold in 2007 in Paris for 11.6 million euros.