The 2018 spring auction season for photography got off to a solid start last week at Swann, with its sale of photographs and photobooks generally meeting expectations. The sale was headlined by a broad selection of 24 lots by Lewis Hine, and these prints, including a vintage print of the iconic wrench-wiedling industrial worker, largely sold well.
The overall Buy-In rate came in just above 26% and there were a total of 15 positive surprises spread across the sale categories. When the dust settled, the Total Sale Proceeds fell toward 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 | 321 |
| Aggregate Pre Sale Low Estimate | $1504500 |
| Aggregate Pre Sale High Estimate | $2201100 |
| Total Lots Sold | 235 |
| Total Lots Bought In | 86 |
| Buy In % | 26.79% |
| Total Sale Proceeds | $1664647 |
Here is the breakdown, using our typical Low, Mid, and High price range definitions:
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 278 |
| Total Low Lots Sold | 207 |
| Total Low Lots Bought In | 71 |
| Low Buy In % | 25.54% |
| Aggregate High Estimate of Low Lots | $1346100 |
| Total Proceeds from Low Lots | $989947 |
| Mid Total Lots | 42 |
| Total Mid Lots Sold | 27 |
| Total Mid Lots Bought In | 15 |
| Mid Buy In % | 35.71% |
| Aggregate High Estimate of Mid Lots | $755000 |
| Total Proceeds from Mid Lots | $593450 |
| 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 | $100000 |
| Total Proceeds from High Lots | $81250 |
The top lot by High estimate was lot 60, Lewis Hine, Mechanic at Steam Pump in Electric Power House, c1921, estimated at $70000-100000; it sold at $81250. The top outcome of the sale was lot 20, Robert B. Talfor, Photographic Views of Red River Raft, 1873, estimated at $18000-22000, sold at $93750.
81.70% of the lots that sold had proceeds in or above the estimate range and there were a total of 15 positive surprises in the sale (defined as having proceeds of at least double the high estimate). Three of these lots came in the vernacular imagery section (lot 252 Dogs, lot 264 Business Liquidations, and lot 279 Nuclear Testing – Bikini Atoll). The positive surprises in fine photographs and photobooks were as follows (images above via Swann):
Lot 3, Edward S. Curtis, An Offering at the Waterfall, Nambe, 1925, estimated at $7000-10000, sold at $25000
Lot 5, Edward S. Curtis, Male figure with headdress and pipe, Male figure with snakes, Jicarilla Maiden, Buffalo Dance at Hano, Hopi, Picturesque Walpi, c1907, 1908-1914, estimated at $8000-12000, sold at $25000
Lot 6, Edward S. Curtis, Kutenai Duck Hunter, 1920, estimated at $4000-5000, sold at $10625
Lot 13, Eadweard Muybridge, Man rowing, 1887, estimated at $600-900, sold at $2160
Lot 20, Robert B. Talfor, Photographic Views of Red River Raft, 1873, estimated at $18000-22000, sold at $93750
Lot 45, Lewis W. Hine, One of many youngsters working in Carolina cotton mills, 1908/1931, estimated at $10000-15000, sold at $30000
Lot 57, Lewis W. Hine, Hull house beneficiary, Italian Grandmother, 1910, estimated at $5000-7500, sold at $15000
Lot 108, Yevgeny Khaldei, Raising a flag over the Reichstag, Berlin, 1945/c1990, estimated at $1200-1800, sold at $5670
Lot 119, Ansel Adams, Georgia O’Keeffe and Orville Cox, 1937/late 1960s, estimated at $18000-22000, sold at $48600
Lot 125 Ansel Adams, El Capitan, Winter, 1950/c1973, estimated at $1500-2000, sold at $7020
Lot 178, Cindy Sherman, Self-Portrait as Lucille Ball, 1975/2001, estimated at $7000-10000, sold at $25000
Lot 318, Robert Heinecken, Are You Rea portfolio, 1968, estimated at $600-900, sold at $3500
The complete lot by lot results can be found here.
