Auction Results: Made in California, December 11, 2023 @Bonhams (online)

There wasn’t much holiday cheer to bolster the results of the recent sale of California-themed photographs at Bonhams online. With an overall Buy-In rate topping 60% and almost no positive surprises, the Total Sale Proceeds (of roughly $230K) fell far 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 161
Aggregate Pre Sale Low Estimate $499800
Aggregate Pre Sale High Estimate $748200
Total Lots Sold 61
Total Lots Bought In 100
Buy In % 62.11%
Total Sale Proceeds $232960

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 152
Total Low Lots Sold 58
Total Low Lots Bought In 94
Low Buy In % 61.84%
Aggregate High Estimate of Low Lots $557200
Total Proceeds from Low Lots $152320
Mid Total Lots 9
Total Mid Lots Sold 3
Total Mid Lots Bought In 6
Mid Buy In % 66.67%
Aggregate High Estimate of Mid Lots $191000
Total Proceeds from Mid Lots $80640
Total High Lots 0
Total High Lots Sold NA
Total High Lots Bought In NA
High Buy In % NA
Aggregate High Estimate of High Lots $0
Total Proceeds from High Lots $0

The top lot by High estimate was lot 65, Ansel Adams, Half Dome, Merced River, Winter, Yosemite Valley, 1938/1950-1957, estimated at $30000-50000; it was also the top outcome of the sale at $51200 (image above, via Bonhams.)

77.05% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Bonhams):

Lot 138, LeRoy Grannis, Malibu, 1962/later, estimated at $1500-2500, sold at $7040

The complete lot by lot results can be found here.

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Read more about: Ansel Adams, LeRoy Grannis, Bonhams

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