The photography in Christie’s First Open Armory week sale performed solidly. The overall Buy-In rate for the photographs on offer was less than 20% and the Total Sale Proceeds for photography fell in the middle of the range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 48 |
| Aggregate Pre Sale Low Estimate | $1011500 |
| Aggregate Pre Sale High Estimate | $1438500 |
| Total Lots Sold | 40 |
| Total Lots Bought In | 8 |
| Buy In % | 16.67% |
| Total Sale Proceeds | $1154375 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 15 |
| Total Low Lots Sold | 14 |
| Total Low Lots Bought In | 1 |
| Low Buy In % | 6.67% |
| Aggregate High Estimate of Low Lots | $103500 |
| Total Proceeds from Low Lots | $151750 |
| Mid Total Lots | 26 |
| Total Mid Lots Sold | 21 |
| Total Mid Lots Bought In | 5 |
| Mid Buy In % | 19.23% |
| Aggregate High Estimate of Mid Lots | $595000 |
| Total Proceeds from Mid Lots | $473125 |
| Total High Lots | 7 |
| Total High Lots Sold | 5 |
| Total High Lots Bought In | 2 |
| High Buy In % | 28.57% |
| Aggregate High Estimate of High Lots | $740000 |
| Total Proceeds from High Lots | $529500 |
The top photography lot by High estimate was lot 90, Andreas Gursky, Atlanta, 1996, estimated at $250000-350000; it was also the top photography outcome of the sale at $314500.
97.50% of the lots that sold had proceeds in or above the estimate range and there were a total of four surprises (defined as having proceeds of at least double the high estimate):
Lot 78, Laurie Simmons, Untitled (Woman’s Head), 1976, estimated at $5000-7000, sold at $18750 (image at right, middle, via Christie’s)
Lot 80, Sturtevant, Duchamp Man Ray Portrait, 1966, estimated at $4000-6000, sold at $18750
Lot 258, Vik Muniz, Scissors (The Sarcezo Drawings), 2002, estimated at $8000-12000, sold at $30000 (image at right, bottom, via Christie’s)
Lot 264, Shirin Neshat, Soliloquy series (Veiled Women in Three Arches), 1999, estimated at $6000-8000, sold at $21250 (image at right, top, via Christie’s)
Complete lot by lot results can be found here.
