Auction Results: Man Ray, November 15, 2014 @Sotheby’s Paris

Given the breadth of material on offer at the recent Man Ray sale at Sotheby’s in Paris, it isn’t particularly surprising that there were both highs and lows. While images that captured Man Ray’s playfulness, his inventiveness, or his surreal eye did well, many of the lesser known portraits found few or no bidders. As a result, the overall  Buy-In rate for photography came in above 43%, with those frequent passes dragging the Total Sale Proceeds below the pre-sale estimate range.

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

Summary Statistics
Total Lots 194
Aggregate Pre Sale Low Estimate €1472500
Aggregate Pre Sale High Estimate €2109500
Total Lots Sold 109
Total Lots Bought In 85
Buy In % 43.81%
Total Sale Proceeds €1314900

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

Detailed Breakdown
Low Total Lots 80
Total Low Lots Sold 49
Total Low Lots Bought In 31
Low Buy In % 38.75%
Aggregate High Estimate of Low Lots €489500
Total Proceeds from Low Lots €333375
Mid Total Lots 112
Total Mid Lots Sold 58
Total Mid Lots Bought In 54
Mid Buy In % 48.21%
Aggregate High Estimate of Mid Lots €1520000
Total Proceeds from Mid Lots €872025
Total High Lots 2
Total High Lots Sold 2
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots €100000
Total Proceeds from High Lots €109500

The top lot by High estimate was lot 29, Man Ray, Lee Miller au collier d’éponges, Juan-les-pins, Hiver, 1930-1931, estimated at €40000-60000; it was also the top photo outcome of the sale at €79500.

89.91% of the lots that sold had proceeds in or above the estimate range and there were a total of 8 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 10, Man Ray, Auto portrait la femme angoissée dans une chambre la nuit d’Alberto Giacometti, 1932, estimated at €7000-10000, sold at €22500

Lot 101, Man Ray, Self Portrait, 1916/1970s, estimated at €5000-7000, sold at €26250 (image above, left, via Sotheby’s)

Lot 103, Man Ray, Spider Woman, 1948/1960s, estimated at €4000-6000, sold at €35000 (image above, right, via Sotheby’s)

Lot 132, Max Ernst/Man Ray, Photogramme pour le chateau etoile d’Andre Breton, 1936, estimated at €10000-15000, sold at €37500

Lot 169, Man Ray, Ava Gardner, 1950, estimated at €7000-10000, sold at €20000

Lot 184, Man Ray, Catherine Deneuve, 1968, estimated at €7000-10000, sold at €37500 (image above, middle, via Sotheby’s)

Lot 214, Man Ray, Portraits imaginaires du Marquis de Sade, 1936-1940, estimated at €5000-7000, sold at €28750

Lot 224, Man Ray, A l’heure de l’observatoire – les amoureux, 1934, estimated at €15000-20000, sold at €51900

Complete lot by lot results can be found here.

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