Auction Results: Fine Photographs, October 2, 2017 @Bonhams

While the two top lots did find buyers in the recent Fine Photographs sale at Bonhams in New York, there was very little positive news beyond the headliners. The overall Buy-In rate came in at a whopping 69%, and with only 1 positive surprise to hold back the tide of passes, the Total Sale Proceeds fell well below the low end of the aggregate pre-sale estimate.

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

Summary Statistics
Total Lots 108
Aggregate Pre Sale Low Estimate $1596000
Aggregate Pre Sale High Estimate $2353500
Total Lots Sold 33
Total Lots Bought In 75
Buy In % 69.44%
Total Sale Proceeds $729625

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

Detailed Breakdown
Low Total Lots 61
Total Low Lots Sold 17
Total Low Lots Bought In 44
Low Buy In % 72.13%
Aggregate High Estimate of Low Lots $405500
Total Proceeds from Low Lots $103250
Mid Total Lots 36
Total Mid Lots Sold 13
Total Mid Lots Bought In 23
Mid Buy In % 63.89%
Aggregate High Estimate of Mid Lots $738000
Total Proceeds from Mid Lots $208125
Total High Lots 11
Total High Lots Sold 3
Total High Lots Bought In 8
High Buy In % 72.73%
Aggregate High Estimate of High Lots $1210000
Total Proceeds from High Lots $418250

The top lot by High estimate was tied between two lots: lot 45, Ansel Adams, The Golden Gate before the Bridge, 1932/c1960, and lot 66, Irving Penn, Ginko Leaves (New York), 1990/1992, both estimated at $150000-250000. The Adams sold for $162500 and the Penn was the top outcome of the sale at $199500 (image above, via Bonhams).

84.85% of the lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above via Bonhams):

Lot 61, Roy Schatt, Marilyn Monroe, 1955, estimated at $2500-3000, sold at $6875

The complete lot by lot results can be found here.

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