Auction Results: 20/21 Photographs, March 31, 2015 @Christie’s

The results from Christie’s various owner 20/21 Photographs sale in New York last week weren’t particularly noteworthy. The overall Buy-In rate inched up higher than normal (to over 42%), and without enough positive surprises to pick up the slack, the Total Sale Proceeds fell just below the pre-sale estimate range.

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

Summary Statistics
Total Lots 145
Aggregate Pre Sale Low Estimate $4214000
Aggregate Pre Sale High Estimate $6252000
Total Lots Sold 83
Total Lots Bought In 62
Buy In % 42.76%
Total Sale Proceeds $4194250

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

Detailed Breakdown
Low Total Lots 39
Total Low Lots Sold 20
Total Low Lots Bought In 19
Low Buy In % 48.72%
Aggregate High Estimate of Low Lots $287000
Total Proceeds from Low Lots $142875
Mid Total Lots 77
Total Mid Lots Sold 42
Total Mid Lots Bought In 35
Mid Buy In % 45.45%
Aggregate High Estimate of Mid Lots $1850000
Total Proceeds from Mid Lots $1035625
Total High Lots 29
Total High Lots Sold 21
Total High Lots Bought In 8
High Buy In % 27.59%
Aggregate High Estimate of High Lots $4115000
Total Proceeds from High Lots $3015750

The top lot by High estimate was lot 233, Alfred Stieglitz, Georgia O’Keeffe, 1918, estimated at $400000-600000; it sold for $413000. The top outcome of the sale was lot Alfred Stieglitz, From the Back-Window, -291, 1915, estimated at $250000-350000, sold at $473000.

93.98% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 243, Robert Frank, Bar – Gallup, New Mexico, 1955/1967-1968, estimated at $80000-120000, sold at $245000

Lot 253, Irving Penn, Callot Swallow-Tail Dress, 1974/1978, estimated at $20000-30000, sold at $81250

Lot 259, Michael Cooper, Sgt. Pepper’s Lonely Hearts Club Band, 1967, estimated at $50000-70000, sold at $161000

Lot 262, Irving Penn, Rock Groups, San Francisco, 1967/1980, estimated at $12000-18000, sold at $43750

Lot 307, Duane Michals, The Most Beautiful Part of a Woman’s Body, 1986, estimated at $4000-6000,sold at $13750

Complete lot by lot results can be found here.

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Read more about: Duane Michals, Irving Penn, Michael Cooper, Robert Frank, Christie's

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