The results from the Fine Photographs sale at Swann last week in New York were largely uneventful. The top lot Roy DeCarava portfolio did find a buyer, but under its estimate range, and the overall Buy-In rate crept up near 30%. Even with a number of positive surprises, the Total Sale Proceeds (of just under $790K) came in 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 | 311 |
| Aggregate Pre Sale Low Estimate | $902100 |
| Aggregate Pre Sale High Estimate | $1350500 |
| Total Lots Sold | 219 |
| Total Lots Bought In | 92 |
| Buy In % | 29.58% |
| Total Sale Proceeds | $789572 |
Here is the breakdown (using our typical Low, Mid, and High price range definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 299 |
| Total Low Lots Sold | 210 |
| Total Low Lots Bought In | 89 |
| Low Buy In % | 29.77% |
| Aggregate High Estimate of Low Lots | $1057500 |
| Total Proceeds from Low Lots | $604697 |
| Mid Total Lots | 11 |
| Total Mid Lots Sold | 8 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 27.27% |
| Aggregate High Estimate of Mid Lots | $218000 |
| Total Proceeds from Mid Lots | $139875 |
| Total High Lots | 1 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 0 |
| High Buy In % | 0.00% |
| Aggregate High Estimate of High Lots | $75000 |
| Total Proceeds from High Lots | $45000 |
The top lot by High estimate was lot 80, Roy DeCarava, portfolio entitled Roy DeCarava, 1950-79/1991, estimated at $50000-75000; it was also the top outcome of the sale at $45000 (image above, via Swann).
Just 60.27% of the lots that sold had proceeds in or above the estimate range and there were a total of 10 positive surprises in the sale (defined as having proceeds of at least double the high estimate)(images above via Swann):
Lot 11, Anna K. Weaver, Welcome, c1874, estimated at $1000-1500, sold at $5250
Lot 31, Alfred Stieglitz, Weary, c1890/before 1898, estimated at $5000-7000, sold at $22500
Lot 43, Arthur Rothstein, Dust Storm, Cimarron County, Oklahoma, 1936/c1980, estimated at $1000-1500, sold at $3500
Lot 64, Edward Weston, Charis, Lake Ediza, 1937/1970s, estimated at $2000-3000, sold at $8750
Lot 72, John Vachon, Bus depot, Washington, D.C., 1951/c1970, estimated at $500-750, sold at $2125
Lot 147, Alfred Wertheimer, Elvis leaves Richmond, VA train terminal with portable radio blaring, 1956/1979, estimated at $1400-1800, sold at $4000
Lot 219, (Mexican Painters), Portrait of Frida Kahlo and Diego Rivera on their second wedding day, 1940, estimated at $1000-1500, sold at $3250
Lot 233, André Kertész, Chez Mondrian, 1926/1967, estimated at $5000-7500, sold at $16250
Lot 273, Barbara Kasten, Untitled (silver), 1979, estimated at $2000-3000, sold at $7000
Lot 284, F.E. Ives, (Color photography), 1931, 1886, 1889, 1935, estimated at $600-900, sold at $2750
The complete lot by lot results can be found here.
