Definition
Auction Results are the published outcomes of auction sales, documenting which lots sold, at what prices (typically hammer and total with premium), and which lots went unsold (bought in). This data forms the foundation of market-based valuations for many alternative asset categories.
Significance in Alternative Asset Valuation
Auction results provide essential market intelligence:
What results reveal:
- Price levels: Actual transaction prices for comparable items
- Market demand: Sold versus unsold ratios indicate market strength
- Trends: Sequential results show directional price movements
- Premiums/discounts: Results versus estimates show market sentiment
Interpretation challenges:
- Selection bias: Only items deemed saleable reach auction
- Timing factors: Results reflect specific moment’s market conditions
- Condition variables: Catalog descriptions may not reveal condition issues
- Buyer competition: Thin bidding may produce unrepresentative results
Sophisticated valuation requires analyzing patterns across multiple results rather than relying on single data points. Outlier results—both high and low—require context to interpret properly.
How Impossival Approaches This
We aggregate auction results across major venues, analyzing patterns and identifying statistically significant trends. Our platform distinguishes between representative market results and statistical outliers in valuation analysis.
Related Concepts
• Hammer Price - The winning bid at auction • Auction Value - Total price including premiums • Comparable Sales - Transaction data for valuation • Realized Price - Actual transaction prices