Sotheby's - Modern Evening Auction

Executive Summary

The recent Sotheby’s Modern Evening Auction, featuring 50 lots, achieved an exceptional sell-through rate of 96%, reflecting strong market demand. With a total hammer price of $196,621,758.73, the auction exceeded the total median estimate of $185,800,000.00, yielding a hammer ratio of 105.82%. This indicates the auction's success in surpassing expectations and the buyers' willingness to invest significantly in high-quality artworks. The total auction value, including the buyer's premium, amounted to $235,053,650.00, demonstrating a substantial premium secured by the auction house. This analysis highlights the critical role of provenance, exhibition history, and artist recognition in driving up the value of artworks, underscoring the importance of these factors in art market dynamics.