The results from the recent single collector sale of works by Man Ray at Christie’s in Paris last week were largely solid, with a decent amount of spread between the first tier works and the secondary and tertiary materials. Nearly 60% of the lots that sold did so below their estimate ranges, but the material did sell and was successfully placed back into the market. At the top end, there were enough higher priced surprises to buoy the numbers, leading to Total Sale Proceeds for photography (of roughly €1M) that fell near the top end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 87 |
| Aggregate Pre Sale Low Estimate | €794600 |
| Aggregate Pre Sale High Estimate | €1168800 |
| Total Lots Sold | 86 |
| Total Lots Bought In | 1 |
| Buy In % | 1.15% |
| Total Sale Proceeds | €1025649 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 58 |
| Total Low Lots Sold | 58 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | €371800 |
| Total Proceeds from Low Lots | €263475 |
| Mid Total Lots | 22 |
| Total Mid Lots Sold | 22 |
| Total Mid Lots Bought In | 0 |
| Mid Buy In % | 0.00% |
| Aggregate High Estimate of Mid Lots | €337000 |
| Total Proceeds from Mid Lots | €331254 |
| Total High Lots | 7 |
| Total High Lots Sold | 6 |
| Total High Lots Bought In | 1 |
| High Buy In % | 14.29% |
| Aggregate High Estimate of High Lots | €460000 |
| Total Proceeds from High Lots | €430920 |
The top photography lot by High estimate was lot 349, Man Ray, Sans titre (Rayographie), 1927, estimated at €80000-120000; it sold at €100800, but it was not the top photography outcome of the sale. That honor went to lot 338, Man Ray, Le Violon d’lngres, 1924/c1970, estimated at €40000-60000, sold at €151200 (image above, via Christie’s).
Just 40.70% of the lots that sold had proceeds in or above the estimate range, but there were a total of 7 surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):
Lot 329, Man Ray, Catherine Deneuve, 1968, estimated at €10000-15000, sold at €40320
Lot 338, Man Ray, Le Violon d’lngres, 1924/c1970, estimated at €40000-60000, sold at €151200
Lot 342, Man Ray, Groupe surréaliste, c1924-1925, estimated at €7000-9000, sold at €20160
Lot 360, Man Ray, Objet indestructible, 1932-1933/1965, estimated at €15000-20000, sold at €90720
Lot 378, Man Ray, Resurrections des mannequins (portfolio), 1966, estimated at €6000-8000, sold at €16380
Lot 392, Man Ray, Électricité (portfolio), 1931, estimated at €2000-3000, sold at €13860
Lot 437, Man Ray, Autoportrait avant/après, 1943, estimated at €5000-7000, sold at €15750
Complete lot by lot results can be found here.
