Auction Results: A Beautiful Life: Photographs from the Collection of Leland Hirsch, April 10, 2018 @Sotheby’s

The single owner sale of photography drawn from the collection of Leland Hirsch cleared the $2 million dollar mark at Sotheby’s in New York earlier this week. With the top lot Richard Avedon print selling for $375K, a reasonable overall Buy-In rate of roughly 15%, and a couple of positive surprises to encourage the action, the Total Sale Proceeds fell squarely in the middle of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 51
Pre Sale Low Total Estimate $1653000
Pre Sale High Total Estimate $2521000
Total Lots Sold 43
Total Lots Bought In 8
Buy In % 15.69%
Total Sale Proceeds $2002750

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 15
Low Sold 15
Low Bought In 0
Low Buy In % 0.00%
Total Low Estimate $84000
Total Low Sold $99000
Mid Total Lots 22
Mid Sold 18
Mid Bought In 4
Mid Buy In % 18.18%
Total Mid Estimate $617000
Total Mid Sold $503750
Total High Lots 14
High Sold 10
High Bought In 4
High Buy In % 28.57%
Total High Estimate $1820000
Total High Sold $1400000

The top lot by High estimate was lot 27, Richard Avedon, Dovima with Elephants, Evening Dress by Dior, Cirque d’Hiver, Paris, 1955/later, estimated at $300000-500000; it was also the top outcome of the sale at $375000 (image above via Sotheby’s).

100.00% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 1, Herb Ritts, Stephanie, Cindy, Christy, Tatjana, Naomi, Hollywood, 1989, estimated at $50000-70000, sold at $150000

Lot 50, Steven Meisel, Madonna Hitching (from Sex), 1992, estimated at $5000-7000, sold at $16250

The complete lot by lot results can be found here.

Herb Ritts, Richard Avedon, Steven Meisel, Sotheby's

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