Auction Results: Collection Loïc Malle: Only Time Will Tell, April 6, 2022 @Sotheby’s Paris

The photography results from a single collector sale of contemporary art at Sotheby’s in Paris last week were particularly strong, especially at higher price points. Filled with conceptual and Land Art works by the likes of Yves Klein and Robert Smithson, the sale was led photographically by a more recent Rashid Johnson sculpture incorporating photography. With an overall Buy-In rate for photography under 11%, the Total Sale Proceeds for photography (of roughly €530K) came in near the top end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 38
Aggregate Pre Sale Low Estimate €382200
Aggregate Pre Sale High Estimate €555700
Total Lots Sold 34
Total Lots Bought In 4
Buy In % 10.53%
Total Sale Proceeds €529200

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

Detailed Breakdown
Low Total Lots 27
Total Low Lots Sold 23
Total Low Lots Bought In 4
Low Buy In % 14.81%
Aggregate High Estimate of Low Lots €136700
Total Proceeds from Low Lots €131040
Mid Total Lots 8
Total Mid Lots Sold 8
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots €189000
Total Proceeds from Mid Lots €171360
Total High Lots 3
Total High Lots Sold 3
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots €230000
Total Proceeds from High Lots €226800

The top lot by High estimate was lot 7, Robert Smithson, Spiral Jetty, photographed by Gianfranco Gorgoni in 1970, estimated at €60000-90000; it sold at €69300. The top photography outcome in the sale was lot 11, Rashid Johnson, Tutu (Miles Davis), 2008, estimated at €50000-70000, sold at €81900 (image above, via Sotheby’s).

85.29% of the lots that sold had proceeds in or above the estimate range and there were a total of 3 surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Sotheby’s):

Lot 55, Robert Smithson, Location Alfred, NY, 1969, estimated at €1000-2000, sold at €5670

Lot 56, Robert Smithson, Torn Photograph from the Second Stop (Rubble) Second Mountain of Six Stops on a Section, 1970, estimated at €500-700, sold at €5670

Lot 77, Seydou Keïta, Portrait de femmes avec radio, 1956-57/2001, estimated at €2000-3000, sold at €8820

Complete lot by lot results can be found here.

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Read more about: Rashid Johnson, Robert Smithson, Seydou Keïta, Sotheby's

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