Christie's - Modern Medici Part II: Selections from a New York Collection

Key Insights

• The "Modern Medici Part II" collection from a New York auction presented a commendable sell-through rate of 86.11%, with 62 out of 72 total lots sold, indicating a well-curated selection that resonated with bidders, aligning well with market demand. This positive outcome, alongside an average price of $15,079, reflects the appeal to a wide range of collectors, possibly encompassing both seasoned and emerging buyers.
• The auction fetched a total of $934,920, with a substantial buyer's premium of $192,920, underscoring the importance of these additional costs in the art transaction process and highlighting the auction's success in attracting significant financial investment from collectors.
• Willem van Mieris's "Joseph and Potiphar's wife" fetched the top lot at $160,000, demonstrating the lasting allure of classical themes and the value placed on works with historical significance and well-documented provenance, indicative of the robust collector interest in European Sculpture & Works of Art and Furniture & Decorative Art categories.
• The auction featured top performers with substantial percent deviations from the median estimate, such as the Terracotta Figure of Apollo achieving a 700% deviation, highlighting competitive bidding and possibly underestimation of certain artworks' market appeal, suggesting rarity or unique provenance as critical factors in valuation.
• The distribution of sold lots by hammer price total value indicates a significant concentration in the mid-market range, with the $10,000 - $50,000 price bracket accounting for the largest share of total value, suggesting robust demand for works within this segment, likely due to accessible pricing for new collectors and perceived investment potential for more seasoned buyers.