The photography sold in Christie’s recent First Open sale in New York didn’t gather much memorable momentum. While the top lot from Richard Price did sell in its range, an overall Buy-In rate for photography over 30% and no positive surprises led to lackluster results, the Total Sale Proceeds falling just underneath the aggregate pre-sale low estimate.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 44 |
| Aggregate Pre Sale Low Estimate | $1577300 |
| Aggregate Pre Sale High Estimate | $2310200 |
| Total Lots Sold | 30 |
| Total Lots Bought In | 14 |
| Buy In % | 31.82% |
| Total Sale Proceeds | $1564750 |
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 | 13 |
| Total Low Lots Bought In | 2 |
| Low Buy In % | 13.33% |
| Aggregate High Estimate of Low Lots | $80200 |
| Total Proceeds from Low Lots | $47875 |
| Mid Total Lots | 24 |
| Total Mid Lots Sold | 14 |
| Total Mid Lots Bought In | 10 |
| Mid Buy In % | 41.67% |
| Aggregate High Estimate of Mid Lots | $700000 |
| Total Proceeds from Mid Lots | $399375 |
| Total High Lots | 5 |
| Total High Lots Sold | 3 |
| Total High Lots Bought In | 2 |
| High Buy In % | 40.00% |
| Aggregate High Estimate of High Lots | $1530000 |
| Total Proceeds from High Lots | $1117500 |
The top photographic lot by High estimate was lot 202, Richard Prince, Untitled (Cowboy), 1999, estimated at $800000-1200000. It was also the top photographic outcome of the sale at $967500 (image in preview post).
85.00% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sale (defined as having proceeds of at least double the high estimate). The closest thing to a positive surprise was lot 209, Christopher Williams, Velosolex 2200 Nr. 2 (Front, Side and Back), Serial Number 3128819, Moteur antiparasité, Date of Production 1964, (From the Collection of Hanh Dam), Douglas M Parker Studio, Glendale, California. August 25, 2005, 2005, estimated at $20000-30000, sold at $47500. (image above via Christie’s)
The complete lot by lot results can be found here.
