Auction Results: Swann (December) and Christie’s (Constantiner)

The final two photography sales of the year were at Swann, with its combo book and photo sale, and at Christie’s, with the fashion and glamour images of the Constantiner collection. The results are below (all results include the buyer’s premium):

Swann Galleries

Total Lots: 401
Pre Sale Low Total Estimate: $854000
Pre Sale High Total Estimate: $1233650

Total Lots Sold: 243
Total Lots Bought In: 158
Buy In %: 39.40%
Total Sale Proceeds: $442741

This sale had two distinct sections that performed differently: the photo books accounted for approximately 73% of the lots, and delivered 57% of the proceeds with a buy-in rate of 35.40%, while the photography accounted for approximately 27% of the lots, and delivered 43% of the proceeds with a buy in rate of 50.00%. Thus, as a group, the lower priced books did “better” than the more expensive photography.

Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 384
Low Sold: 236
Low Bought In: 148
Buy In %: 38.54%
Total Low Estimate: $878650
Total Low Sold: $334741

Mid Total Lots: 15
Mid Sold: 6
Mid Bought In: 9
Buy In %: 60.00%
Total Mid Estimate: $280000
Total Mid Sold: $84000

High Total Lots: 2
High Sold: 1
High Bought In: 1
Buy In %: 50.00%
Total High Estimate: $75000
Total High Sold: $24000

The lot by lot results can be found here.

Overall, another generally solid outing for Swann in these volatile economic times.

Christie’s – Constantiner

Total Lots: 320
Pre Sale Low Total Estimate: $7472500
Pre Sale High Total Estimate: $11020500

Total Lots Sold: 281
Total Lots Bought In: 39
Buy In %: 12.19%
Total Sale Proceeds: $7721875

This sale seems to have performed almost exactly to expectations: it did well across the board, but would likely have delivered a meaningfully bigger outcome under more optimistic economic conditions. That said, Christie’s brought in proceeds above the Total Low Estimate, which was a rarity this auction season.

Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 146
Low Sold: 135
Low Bought In: 11
Buy In %: 7.53%
Total Low Estimate: $784500
Total Low Sold: $738625

Mid Total Lots: 127
Mid Sold: 106
Mid Bought In: 21
Buy In %: 16.54%
Total Mid Estimate: $2816000
Total Mid Sold: $1881000

High Total Lots: 47
High Sold: 41
High Bought In: 6
Buy In %: 12.77%
Total High Estimate: $7420000
Total High Sold: $5102250

The lot by lot results can be found here.

The Low end was quite strong here, but the quality of the material led to a good performance across the board. The low buy in rate for the High lots was impressive, but the dollar figures lot by lot for these same High lots were a bit soft. Chalk this one up to poor timing for an otherwise strong collection.

Christie's, Swann Auction Galleries

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