Christie's - Post-War and Contemporary Art Day Sale
May 17th, 2024 - New York
Executive Summary
The recent Post-War and Contemporary Art Day Sale at Christie's showcased 285 lots, out of which 237 were sold, resulting in a sell-through rate of 83.2%. Despite the strong demand, the auction fell short of meeting its median estimates, with a Total Hammer Price Value of $59.8 million compared to the Total Median Estimate of $76.4 million. The Total Auction Value, including the buyer's premium, reached $75.2 million. This discrepancy, reflected in a Hammer Ratio of 78.3%, indicates that the auction underperformed expectations. The auction's high-value lots significantly dominated the total hammer price, revealing a market preference for higher-end artworks.