The results of the recent combination fine/vernacular photographs sale at Swann were generally uneventful. An album of Martin Chambi’s photographs from Cusco, Peru, and elsewhere provided a major positive surprise, soaring to nearly $60K. But this was just one unexpected outcome in a sale that largely stayed put. With an overall Buy-In rate of just higher than a third, the Total Sale Proceeds fell a bit underneath the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 315 |
| Aggregate Pre Sale Low Estimate | $1253050 |
| Aggregate Pre Sale High Estimate | $1855450 |
| Total Lots Sold | 209 |
| Total Lots Bought In | 106 |
| Buy In % | 33.65% |
| Total Sale Proceeds | $1226530 |
Here is the breakdown (using our typical Low, Mid, and High price range definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 283 |
| Total Low Lots Sold | 185 |
| Total Low Lots Bought In | 98 |
| Low Buy In % | 34.63% |
| Aggregate High Estimate of Low Lots | $1142450 |
| Total Proceeds from Low Lots | $768405 |
| Mid Total Lots | 29 |
| Total Mid Lots Sold | 22 |
| Total Mid Lots Bought In | 7 |
| Mid Buy In % | 24.14% |
| Aggregate High Estimate of Mid Lots | $518000 |
| Total Proceeds from Mid Lots | $350625 |
| Total High Lots | 3 |
| Total High Lots Sold | 2 |
| Total High Lots Bought In | 1 |
| High Buy In % | 33.33% |
| Aggregate High Estimate of High Lots | $195000 |
| Total Proceeds from High Lots | $107500 |
The top lot by High estimate was lot 185, Robert Mapplethorpe, Lisa Lyon, 1980-1982 estimated at $50000-75000; it sold at $50000. The top outcome of the sale was lot 251, Martin Chambi, Album with 118 photographs, 1920s, estimated at $6000-9000, sold at $58750 (image above, via Swann).
79.90% of the lots that sold had proceeds in or above the estimate range and there were a total of 7 positive surprises in the sale (defined as having proceeds of at least double the high estimate). Six of these lots came in the vernacular imagery section (lot 245 India – Industry, lot 251, Martin Chambi, lot 253, Flora and Fauna, lot 268, Home Sweet Home, lot 286, Fritz Lang – Metropolis, and lot 295, Marvel Beauty School – Winnipeg, MB). The one positive surprise in fine photographs was as follows (image above via Swann):
Lot 171, Graciela Iturbide, 5 photographs from Mujeres de Juchitan, 1979-1989/1990, estimated at $5000-7500, sold at $15000
The complete lot by lot results can be found here.
