Auction Results: 100 Photographs, April 6, 2018 @Bonhams

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.

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Read more about: Irving Penn, Nan Goldin, Bonhams

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