Auction Results: Art of Collecting: A Pacific Island Connoisseur of Art and Design, March 7, 2023 @Christie’s

The photography results from the single collector sale of art and design at Christie’s in New York last week were solid. The top photo lot Hiroshi Sugimoto architecture image found a buyer just above its estimate range, and an additional positive surprise in the form of a Horst fashion image from the 1940s helped add to the tally. When the dust settled, the Total Sale Proceeds for photography (of just under $900K) came in at roughly 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 20
Aggregate Pre Sale Low Estimate $724000
Aggregate Pre Sale High Estimate $1088000
Total Lots Sold 13
Total Lots Bought In 7
Buy In % 35.00%
Total Sale Proceeds $895230

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

Detailed Breakdown
Low Total Lots 2
Total Low Lots Sold 0
Total Low Lots Bought In 2
Low Buy In % 100.00%
Aggregate High Estimate of Low Lots $13000
Total Proceeds from Low Lots $0
Mid Total Lots 11
Total Mid Lots Sold 7
Total Mid Lots Bought In 4
Mid Buy In % 36.36%
Aggregate High Estimate of Mid Lots $285000
Total Proceeds from Mid Lots $193410
Total High Lots 7
Total High Lots Sold 6
Total High Lots Bought In 1
High Buy In % 14.29%
Aggregate High Estimate of High Lots $790000
Total Proceeds from High Lots $701820

The top photography lot by High estimate was lot 10, Hiroshi Sugimoto, Chrysler Building, 1996, estimated at $200000-300000; it was also the top photography outcome in the sale at $302400 (image above, via Christie’s.)

84.62% of the lots that sold had proceeds in or above the estimate range and there was just one positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above via Christie’s):

Lot 122, Horst P. Horst, American Vogue Cover, 15 May, 1941, 1941/later, estimated at $15000-20000, sold at $56700

The complete lot by lot results can be found here.

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Read more about: Hiroshi Sugimoto, Horst P. Horst, Christie's

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