Sotheby's "Art Contemporain" Live evening sale in Paris, France on June 24th 2020 performed reasonably well as its total Selling Price (Hammer Price plus Buyers' Premium) was over 15 million euros (about US$17 million).
While the results were modest in comparison to previous years, the Live auction still generated more revenue in one auction than any of the more than hundred online sales arranged by Sotheby's since the beginning of the Covid-19 crisis.
So is it "Business back as usual" for Sotheby's and its clients?
Not really according to Pi-eX Volatility Index:
Over the past three years (2017-2019), 70% of lots auctioned at the June Sotheby's Paris Contemporary art evening sales obtained Hammer Prices (HP) above their Low Estimates (LE) and only about 5% of the lots could not find buyers at the prices their sellers expected (resulting in the lots being what the art market calls "Bought-ins").
At yesterday's sale, less than 50% of lots obtained HP higher than their LE and more than 20% of lots were "Bought-ins".
For more information on the recent Paris Live sales, consult Pi-eX MICRO Contemporary Art June Paris Evening Sales Results at Sotheby's – 2007-2020 Tailored Report