While many auction suffer from overly high Buy-In rates, this auction could be a case study in the variant case where the Buy-In rate is generally low, but the most of the sales are made below the estimate range – in short, the lots find buyers, but at low prices. Here the overall Buy-In rate was less than 25%, but roughly 58% of the lots that sold found buyers below their estimates; the result was an outcome where the Total Sale Proceeds neared €900000, but ultimately fell below the pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 191 |
| Aggregate Pre Sale Low Estimate | €963200 |
| Aggregate Pre Sale High Estimate | €1207200 |
| Total Lots Sold | 147 |
| Total Lots Bought In | 44 |
| Buy In % | 23.04% |
| Total Sale Proceeds | €870444 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 172 |
| Total Low Lots Sold | 132 |
| Total Low Lots Bought In | 40 |
| Low Buy In % | 23.26% |
| Aggregate High Estimate of Low Lots | €532200 |
| Total Proceeds from Low Lots | €367164 |
| Mid Total Lots | 12 |
| Total Mid Lots Sold | 9 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 25.00% |
| Aggregate High Estimate of Mid Lots | €195000 |
| Total Proceeds from Mid Lots | €137280 |
| Total High Lots | 7 |
| Total High Lots Sold | 6 |
| Total High Lots Bought In | 1 |
| High Buy In % | 14.29% |
| Aggregate High Estimate of High Lots | €480000 |
| Total Proceeds from High Lots | €366000 |
The top lot by High estimate was lot 97, Diane Arbus, Identical Twins (from A Box of Ten Photographs), 1967/1973, estimated at €80000-100000; it sold for €72000. The top outcome of the sale was lot 18, Rudolf Koppitz, Bewegunsstudie, 1925, estimated at €50000-60000, sold at €90000 (image in preview post).
Only 41.50% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 39, Weegee, Herald Square – Looking North (Distortion), 1940s, estimated at €2000-2500, sold at €5040 (image above, middle, via WestLicht)
Lot 61, Marc Riboud, A street in Beijing as seen from inside an antique dealer’s shop, 1935/1972, estimated at €2500-3000, sold at €10800 (image above, left, via WestLicht)
Lot 64, Marc Riboud, Dans une rue de Pekin, China, 1957, estimated at €1500-1800, sold at €3600
Lot 89, Gianni Berengo Gardin, Inghliterra (England), 1977, estimated at €2000-2400, sold at €5040 (image above, right, via WestLicht)
Complete lot by lot results can be found here.
