Auction Results: 175 Masterworks To Celebrate 175 Years Of Photography: Property from Joy of Giving Something Foundation, December 11 and 12, 2014 @Sotheby’s

The JGS/Howard Stein auction at Sotheby’s last week in New York more than lived up to all its lofty pre-sale expectations. World record prices were set for Coburn, Sander, Modotti, Cameron, Lee Miller, Walker Evans, and Munkácsi, and the Total Sale Proceeds came in at a staggering $21325063, far beyond any previous auction of photography. The overall Buy-In rate was under 10% (a sure sign of broad demand) and there were lots of positive surprises, a handful of works jumping up to triple their high estimates and beyond. Interestingly enough, even though the raw prices were generally high, nearly 30% of the lots that sold found buyers below their estimate ranges, so there were indeed some relative bargains available for discerning collectors.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 175
Aggregate Pre Sale Low Estimate $13065000
Aggregate Pre Sale High Estimate $20183000
Total Lots Sold 158
Total Lots Bought In 17
Buy In % 9.71%
Total Sale Proceeds $21325063

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 13
Total Low Lots Sold 13
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots $119000
Total Proceeds from Low Lots $194688
Mid Total Lots 62
Total Mid Lots Sold 56
Total Mid Lots Bought In 6
Mid Buy In % 9.68%
Aggregate High Estimate of Mid Lots $1574000
Total Proceeds from Mid Lots $1832000
Total High Lots 100
Total High Lots Sold 89
Total High Lots Bought In 11
High Buy In % 11.00%
Aggregate High Estimate of High Lots $18490000
Total Proceeds from High Lots $19298375

The top lot by High estimate was lot 8, Alfred Stieglitz, Out of Window – 291 – N.Y., 1915, estimated at $400000-600000; it sold for $461000. The top outcome of the sale was lot 11, Alvin Landon Coburn, Shadows and Reflections, Venice, 1905, estimated at $350000-500000, sold at $965000 (image above, left, via Sotheby’s).

70.89% of the lots that sold had proceeds in or above the estimate range and there were a total of 21 positive surprises in the sale (defined as having proceeds of at least double the high estimate). Those lots which had proceeds of triple their high estimates (or more) are shown above (in addition to the top outcome of the sale – Coburn):

Lot4, Alfred Stieglitz, Evening, New York, from the Shelton, 1931, estimated at $200000-300000, sold at $929000 (image above, via Sotheby’s)

Lot 38, Walker Evans, Faces, Pennsylvania Town (Johnstown), 1935, estimated at $50000-70000, sold at $389000 (image above, via Sotheby’s)

Lot 40, Eugène Atget, Corsets (Boulevard de Strasbourg), 1912, estimated at $100000-150000, sold at $509000 (image above, via Sotheby’s)

Lot 41, Gustave Le Gray, The Pont du Carrousel seen from the Pont des Arts, 1859, estimated at $150000-250000, sold at $725000

Lot 42, Gustave Le Gray, The Pont du Carrousel seen from the Pont Royal, 1859, estimated at $150000-250000, sold at $773000 (image above, via Sotheby’s)

Lot 49, Edward Weston, Charis, Santa Monica, 1936, estimated at $200000-300000, sold at $653000

Lot 61, Edward Steichen, George Washington Bridge, New York, 1931, estimated at $30000-50000, sold at $100000

Lot 67, T. Lux Feininger, Schirmeinski and Jircksen, 1927-1928, estimated at $10000-15000, sold at $34375

Lot 71, László Moholy-Nagy, From the Radio Tower Berlin, 1928/1941, estimated at $100000-150000, sold at $341000

Lot 73, Dora Maar, Garcon avec un chat dans les bras appuye contre une vitrine, 1934, estimated at $15000-25000, sold at $50000

Lot 81, Brassaï, Chez Suzy, 1932, estimated at $15000-25000, sold at $50000

Lot 82, Bill Brandt, Belgravia, London (Nude), 1951, estimated at $20000-30000, sold at $87500

Lot 84, Constantin Brancusi, Vu d’Atelier avec Polane, 1922, estimated at $50000-80000, sold at $197000

Lot 92, Etienne-Jules Marey, Vol de Heron, 1883, estimated at $25000-35000, sold at $87500

Lot 106, Hiromu Kira, Paper Bird, 1928, estimated at $7000-10000, sold at $34375 (image above, via Sotheby’s)

Lot 112, George Barnard, Buen-Ventura, Savannah, GA, 1866, estimated at $4000-6000, sold at $20000 (image above, via Sotheby’s)

Lot 114, Benjamin Brecknell Turner, Hedgerow Trees, Clenkenleap, Worcestershire, 1852-1854, estimated at $20000-30000, sold at $137000 (image above, via Sotheby’s)

Lot 145, Ralph Eugene Meaytard, Child’s No, 1963, estimated at $10000-15000, sold at $34375

Lot 150, Lee Friedlander, Philadelphia, Pennsylvania, 1`961, estimated at $8000-12000, sold at $31250

Lot 161, Cindy Sherman, Untitled Film Still #2, 1977, estimated at $100000-150000, sold at $317000

Lot 168, Judith Joy Ross, Selected images from Eastern Portraits and 2046, 1998, 1996, estimated at $7000-10000, sold at $21250

Complete lot by lot results can be found here.

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Read more about: Alfred Stieglitz, Alvin Langdon Coburn, Benjamin Brecknell Turner, Eugène Atget, George Barnard, Gustave Le Gray, Hiromu Kira, Walker Evans, Sotheby's

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