Auction Results: Important Photographs from the Collection of Donald and Alice Lappé, October 10, 2017 @Christie’s

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
Pre Sale Low Total Estimate $3721000
Pre Sale High Total 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
Low Sold 5
Low Bought In 0
Low Buy In % 0.00%
Total Low Estimate $33000
Total Low Sold $28125
Mid Total Lots 30
Mid Sold 20
Mid Bought In 10
Mid Buy In % 33.33%
Total Mid Estimate $857000
Total Mid Sold $413750
Total High Lots 32
High Sold 20
High Bought In 12
High Buy In % 37.50%
Total High Estimate $4820000
Total High Sold $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.

Read more about: Edward Weston, Christie's

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