Auction Results: Leaves of Light and Shadow: Photographs Gathered by William T. Hillman, March 31, 2015 @Christie’s

The auction of a portion of the collection of William T. Hillman last week at Christie’s had one of the softest outcomes for a single owner photography sale in recent memory. With an overall Buy-In rate over 50% (with particular weakness at the top end) and few positive surprises, the Total Sale Proceeds missed the low end of the estimate range by more than a million dollars.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 117
Aggregate Pre Sale Low Estimate $2335500
Aggregate Pre Sale High Estimate $3488000
Total Lots Sold 57
Total Lots Bought In 60
Buy In % 51.28%
Total Sale Proceeds $1271000

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 40
Total Low Lots Sold 19
Total Low Lots Bought In 21
Low Buy In % 52.50%
Aggregate High Estimate of Low Lots $254000
Total Proceeds from Low Lots $141625
Mid Total Lots 59
Total Mid Lots Sold 33
Total Mid Lots Bought In 26
Mid Buy In % 44.07%
Aggregate High Estimate of Mid Lots $1434000
Total Proceeds from Mid Lots $766875
Total High Lots 18
Total High Lots Sold 5
Total High Lots Bought In 13
High Buy In % 72.22%
Aggregate High Estimate of High Lots $1800000
Total Proceeds from High Lots $362500

The top lot by High estimate was lot 11, Diane Arbus, Waitress in a Nudist Camp, N.J., 1963, estimated at $200000-300000; it did not sell. The top outcome of the sale was lot 117, Bernd and Hilla Becher, Blast Furnaces, Frontal Views, 1976-1986, estimated at $80000-120000, sold at $112500.

92.98% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 1, Mona Kuhn, Merle, 2003, estimated at $6000-8000, sold at $16250 (image above, right, via Christie’s)

Lot 43, William Klein, Model and Graffiti, Paris (Vogue), 1961, estimated at $7000-9000, sold at $25000 (image above, left, via Christie’s)

Complete lot by lot results can be found here.

Send this article to a friend

Read more about: Mona Kuhn, William Klein, Christie's

Leave a comment

Your email address will not be published.

Recent Articles

Sarah Sze @Tanya Bonakdar

Sarah Sze @Tanya Bonakdar

JTF (just the facts): A series of installations and paintings on view in the main gallery space (which has been divided), in the two gallery spaces upstairs, in the transitional ... Read on.

Sign up for our weekly email newsletter