Using a combination of low and no reserves, Sotheby’s was able to engineer 100% sell through for the photographs included in the recent online sale of works from the collection of A.G. Rosen. Works by Nan Goldin, Francesca Woodman, and Sally Mann all jumped into positive surprise territory, with one of the Goldin prints taking the top photography lot honors. These successes outweighed the many lots that sold below their pre-sale estimate ranges (but found buyers nonetheless), creating a kind of balance that led the Total Sale Proceeds for photography (of roughly $255K) to reach 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 | 23 |
| Aggregate Pre Sale Low Estimate | $207000 |
| Aggregate Pre Sale High Estimate | $301000 |
| Total Lots Sold | 23 |
| Total Lots Bought In | 0 |
| Buy In % | 0.00% |
| Total Sale Proceeds | $257280 |
Here is the breakdown (using our usual Low, Mid, and High price tier definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 14 |
| Total Low Lots Sold | 14 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $98000 |
| Total Proceeds from Low Lots | $141480 |
| Mid Total Lots | 9 |
| Total Mid Lots Sold | 9 |
| Total Mid Lots Bought In | 0 |
| Mid Buy In % | 0.00% |
| Aggregate High Estimate of Mid Lots | $203000 |
| Total Proceeds from Mid Lots | $115800 |
| Total High Lots | 0 |
| Total High Lots Sold | NA |
| Total High Lots Bought In | NA |
| High Buy In % | NA |
| Aggregate High Estimate of High Lots | $0 |
| Total Proceeds from High Lots | $0 |
The top photography lot by High estimate was lot 26, Shirin Neshat, Identified, 1995, estimated at $30000-50000; it sold at $24000, bus was not the top photography outcome of the sale. That honor went to lot 125, Nan Goldin, Amanda in the Sauna, Hotel Savoy, Berlin, 1994, estimated at $5000-7000, sold at $33600 (image above, via Sotheby’s.)
Just 39.13% of the lots that sold had proceeds in or above the estimate range and there a total of 5 positive photographic surprises in the sale (defined as having proceeds of at least double the high estimate)(images above, via Sotheby’s):
Lot 42, Francesca Woodman, Untitled (from Eel Series), 1977-1978/posthumous, estimated at $6000-8000, sold at $26400
Lot 43, Francesca Woodman, Untitled (New York), 1979/posthumous, estimated at $6000-8000, sold at $16800
Lot 125, Nan Goldin, Amanda in the Sauna, Hotel Savoy, Berlin, 1994, estimated at $5000-7000, sold at $33600
Lot 127, Nan Goldin, Self-portrait in blue bathroom, London, 1980, estimated at $6000-8000, sold at $22800
Lot 128, Sally Mann, Jessie Bites, 1985, estimated at $6000-8000, sold at $16800
The complete lot by lot results can be found here.
