Just a little bit of softness in the mid and upper price tiers muted the results of the single collector Lappé sale at Christie’s last week. The overall Buy-In rate came in at roughly a third of the lots, and with only one positive surprise to generate upward force (an Edward Weston industrial scene), the Total Sale Proceeds settled in just below 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 | 67 |
| Aggregate Pre Sale Low Estimate | $3721000 |
| Aggregate Pre Sale High Estimate | $5710000 |
| Total Lots Sold | 45 |
| Total Lots Bought In | 22 |
| Buy In % | 32.84% |
| Total Sale Proceeds | $3603125 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 5 |
| Total Low Lots Sold | 5 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $33000 |
| Total Proceeds from Low Lots | $28125 |
| Mid Total Lots | 30 |
| Total Mid Lots Sold | 20 |
| Total Mid Lots Bought In | 10 |
| Mid Buy In % | 33.33% |
| Aggregate High Estimate of Mid Lots | $857000 |
| Total Proceeds from Mid Lots | $413750 |
| Total High Lots | 32 |
| Total High Lots Sold | 20 |
| Total High Lots Bought In | 12 |
| High Buy In % | 37.50% |
| Aggregate High Estimate of High Lots | $4820000 |
| Total Proceeds from High Lots | $3161250 |
The top lot by High estimate was lot 323, Edward Weston, Betty in her Attic, 1920, estimated at $600000-900000 (image in preview post): it was also the top outcome of the sale at $732500.
77.78% 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) (images above via Christie’s):
Lot 339, Edward Weston, Armco Steel, Middletown, Ohio, 1922/1940s, estimated at $70000-100000, sold at $212500
The complete lot by lot results can be found here.
