Results: Sotheby's Contemporary Art Evening Sale

I posted quickly last evening on the record breaking Basquait work selling at Sotheby's. Here is the rest of the sales information for the sale. It totaled $$319.2 million including buyer's premiums. The pre-sale estimate was $212–278.6 million.

The sale offered 50 lots, with 48 selling for a strong 96% sales rate, and it sold a very strong 97.8% by value. For the top ten, including the Basquait which had a $60 million estimate, 6 works sold for over the high estimate and the other 4 sold within the estimate ranges.

Overall the week is looking pretty good. Phillips had a good sale, selling 100% of its lots, Artnews reported "Including buyer’s premiums, its sale of 37 lots brought in $110.3 million, just about what it totaled for the same number of works at its New York sale of contemporary art last November. The result tonight more than doubled what it earned at the corresponding auction last year, when it brought in just $46.6 million on 34 lots."

It appears from some quick calculations, the week of evening sales at Christie's, Sotheby's and Phillips totaled over a $1 billion.

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