Sotheby's - Modern Day Auction
May 16th, 2024 - New York
Executive Summary
The Sotheby's Modern Day Auction showcased 264 lots, with 208 successfully sold, achieving a sell-through rate of 78.8%. The total auction value, inclusive of the buyer's premium, reached $52.2 million, while the total hammer price value stood at $41.3 million. Despite this impressive figure, the auction underperformed compared to its total median estimate of $62.8 million, realizing only 65.8% of its expected median value. The average price per lot was approximately $251,093, reflecting the auction's focus on high-value items. Analysis of the auction distribution by price range and individual lot performance provides valuable insights into market dynamics and collector preferences.