Sotheby's - Modern & Contemporary Art

Executive Summary

The Modern & Contemporary Art auction held at Sotheby's presented a formidable collection of works that attracted a discerning collector base. The auction featured a mixture of established and emerging artists, yielding a variety of sales outcomes that offer a panoramic view of current market trends and collector preferences.

With a robust sell-through rate of 80.33%, the auction demonstrated a healthy demand for Modern and Contemporary Art. The total hammer price achieved was €7,974,000.00, slightly under the total median estimate, indicating a cautious yet active market. The sale was characterized by significant purchases of high-value items, which constituted the majority of the auction's financial turnover. Lucio Fontana stood out with the highest cumulative sales, while Giorgio Morandi achieved the highest sale for a single lot. Despite the overall success, some lots by renowned artists did not sell, reflecting a market that values selectivity and precision in valuation.

Key Insights

• Dominance of High-Value Sales: High-value lots (over €100,000) comprised a significant majority (81.58%) of the total value, underlining the auction's success in attracting top-tier collectors.
• Lucio Fontana's Market Strength: Fontana led in total sales, indicative of a sustained collector interest in his pioneering work, though some of his works did not find buyers.
• Selective High Performers: Giorgio Morandi's work fetched the highest single-lot price, emphasizing the market's particular interest in his still-life compositions.
• Diversity of Medium and Age: A range of mediums from traditional oil to mixed media and a spread across decades were represented, suggesting a market open to diverse artistic expressions.
• Unsold Pieces Indicate Overestimation: Notable unsold works hinted at potential overestimation of certain artists' appeal or valuation discrepancies.