The recent 100 Photographs sale at Bonhams in New York didn’t generate much in the way of momentum. With an overall Buy-In rate over 45% and only one positive surprise, there just wasn’t enough interest or activity to keep the sale afloat. In the end, the Total Sale Proceeds fell well below the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 100 |
| Aggregate Pre Sale Low Estimate | $1091000 |
| Aggregate Pre Sale High Estimate | $1638000 |
| Total Lots Sold | 54 |
| Total Lots Bought In | 46 |
| Buy In % | 46.00% |
| Total Sale Proceeds | $561000 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 66 |
| Total Low Lots Sold | 39 |
| Total Low Lots Bought In | 27 |
| Low Buy In % | 40.91% |
| Aggregate High Estimate of Low Lots | $373000 |
| Total Proceeds from Low Lots | $181000 |
| Mid Total Lots | 30 |
| Total Mid Lots Sold | 14 |
| Total Mid Lots Bought In | 16 |
| Mid Buy In % | 53.33% |
| Aggregate High Estimate of Mid Lots | $725000 |
| Total Proceeds from Mid Lots | $255000 |
| Total High Lots | 3 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 2 |
| High Buy In % | 66.67% |
| Aggregate High Estimate of High Lots | $540000 |
| Total Proceeds from High Lots | $125000 |
The top lot by High estimate was lot 61, Irving Penn, Cuzco Children, Peru, 1948/1978, estimated at $200000-300000; it did not sell. The top outcome of the sale was lot 25, Irving Penn, Girl Behind Bottle, New York (Jean Patchett), 1949/1978, estimated at $120000-180000, sold at $125000 (image above via Bonhams).
85.19% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above via Bonhams):
Lot 8, Nan Goldin, Self Portrait in Blue Bathroom, London, 1980, estimated at $6000-8000, sold at $16250
The complete lot by lot results can be found here.
