Auction Results: Classic & Contemporary Photographs, April 6, 2023 @Bonhams

After a solid positive surprise from a David Hockney pool image got things started, the rest of the action at the Photographs sale at Bonhams in New York last week was generally unremarkable. An overall Buy-In rate over 44% was the primary culprit, leading to Total Sale Proceeds (of roughly $475K) that fell well below 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 156
Aggregate Pre Sale Low Estimate $772500
Aggregate Pre Sale High Estimate $1125900
Total Lots Sold 87
Total Lots Bought In 69
Buy In % 44.23%
Total Sale Proceeds $474164

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

Detailed Breakdown
Low Total Lots 131
Total Low Lots Sold 75
Total Low Lots Bought In 56
Low Buy In % 42.75%
Aggregate High Estimate of Low Lots $608900
Total Proceeds from Low Lots $309889
Mid Total Lots 24
Total Mid Lots Sold 12
Total Mid Lots Bought In 12
Mid Buy In % 50.00%
Aggregate High Estimate of Mid Lots $457000
Total Proceeds from Mid Lots $164275
Total High Lots 1
Total High Lots Sold 0
Total High Lots Bought In 1
High Buy In % 100.00%
Aggregate High Estimate of High Lots $60000
Total Proceeds from High Lots $0

The top lot by High estimate was lot 140, Alfred Stieglitz, Winter, Fifth Avenue (from the portfolio ‘Picturesque Bits of New York and Other Studies’), 1897, estimated at $40000-60000; it did not sell. The top outcome of the sale was lot 44, Hiroshi Sugimoto, Time Exposed (portfolio), 1991, estimated at $18000-24000, sold at $19125 (image above, via Bonhams.)

84.06% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (image above, via Bonhams):

Lot 1, David Hockney, Untitled (Diving Board), c1975, estimated at $2000-3000, sold at $20400

Lot 2, David Hockney, Untitled (Poolside), c1976, estimated at $2000-3000, sold at $6012

Lot 36, Arthur Leipzig, Stickball, New York City, 1950/later, estimated at $1200-1800, sold at $4463

Lot 49, Herbert Matter, Untitled (Photogram), c1940, estimated at $1000-2000, sold at $4080

The complete lot by lot results can be found here.

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Read more about: Arthur Leipzig, David Hockney, Herbert Matter, Hiroshi Sugimoto, Bonhams

One comment

  1. Pete /

    That street genre photograph by Arthur Leipzig, Stickball, New York City, 1950/later may worth little in terms of an art market auction but nevertheless is quietly astounding.

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