Sotheby's - Contemporary Discoveries
May 23rd, 2024 - Milan
Executive Summary
The Sotheby's "Contemporary Discoveries" auction in Milan aimed to attract both emerging collectors and seasoned connoisseurs with a mix of post-war and contemporary works. The auction included 91 lots, of which 73 were sold, resulting in a sell-through rate of 80.2%. The total hammer price value for the auction was €1.9 million, which fell short of the total median estimate of €2.4 million. The hammer ratio stood at 79.9%, indicating an underperformance relative to pre-sale financial targets. However, the auction still brought in €2.3 million, including the buyer's premium, which contributed €385,586.78 to the final total, averaging €31,956.16 per lot.