Auction Update Review
The Week ending October 31, 2010
Eleven Sales Archived
Strength at the Top
This past week we archived 11 auctions. Two of them were for Kiefer - Buch - and Kunstauktionen and nine for others. I have separated the Kiefer sales because of their size. They alone contained 7,766 lots, the other nine 3,339.
The nine sales altogether did very well, had an aggregate high estimate of $28,990,964 and total sales of $22,492,375. Swann, Sotheby's, Bonham's and Christie's did the heavy lifting. Christies alone raised more than $12 million in two sales, Sotheby's $5,068,449, Swann $2,448,462 and Bonham's $1,748,626, for single sales. At the top the market was robust. Sotheby's sale on the 28th, Christie's on the 27th and Bonham's on the 24th also all realized more than 100% of the high estimate. Power was on open display.
Kiefer's sales on October 15th and 16th were immense undertakings. For the two sales 7,766 lots were offered and 3,739 sold. Total sales amounted to $1,322,664, the percentage of lots sold 48%. The other nine sales sold through at the rate of 75%.
Evidence is accumulating that the auction market performs well when the estimates and material are appealing. It suggests that buyers are confident when the facts presented make sense.
Bruce McKinney
AE
Eleven Sales Archived
Strength at the Top
This past week we archived 11 auctions. Two of them were for Kiefer - Buch - and Kunstauktionen and nine for others. I have separated the Kiefer sales because of their size. They alone contained 7,766 lots, the other nine 3,339.
The nine sales altogether did very well, had an aggregate high estimate of $28,990,964 and total sales of $22,492,375. Swann, Sotheby's, Bonham's and Christie's did the heavy lifting. Christies alone raised more than $12 million in two sales, Sotheby's $5,068,449, Swann $2,448,462 and Bonham's $1,748,626, for single sales. At the top the market was robust. Sotheby's sale on the 28th, Christie's on the 27th and Bonham's on the 24th also all realized more than 100% of the high estimate. Power was on open display.
Kiefer's sales on October 15th and 16th were immense undertakings. For the two sales 7,766 lots were offered and 3,739 sold. Total sales amounted to $1,322,664, the percentage of lots sold 48%. The other nine sales sold through at the rate of 75%.
Evidence is accumulating that the auction market performs well when the estimates and material are appealing. It suggests that buyers are confident when the facts presented make sense.
Bruce McKinney
AE