Auction Results: MoMA: Henri Cartier-Bresson, October 5-11, 2017 @Christie’s Online

If the results of the recent online sale of Cartier-Bresson prints from the collection of the Museum of Modern Art are any indication, these sales are going to be rich hunting grounds for bargain hunters. Only 3 of the top 10 highest priced lots found buyers, and 44% of the lots that did sell were sold at prices below their estimate ranges. With only 2 positive surprises to balance downward pull, the Total Sale Proceeds fell well 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 35
Aggregate Pre Sale Low Estimate $457000
Aggregate Pre Sale High Estimate $667000
Total Lots Sold 25
Total Lots Bought In 10
Buy In % 28.57%
Total Sale Proceeds $316375

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

Detailed Breakdown
Low Total Lots 16
Total Low Lots Sold 14
Total Low Lots Bought In 2
Low Buy In % 12.50%
Aggregate High Estimate of Low Lots $118000
Total Proceeds from Low Lots $97625
Mid Total Lots 16
Total Mid Lots Sold 11
Total Mid Lots Bought In 5
Mid Buy In % 31.25%
Aggregate High Estimate of Mid Lots $349000
Total Proceeds from Mid Lots $218750
Total High Lots 3
Total High Lots Sold 0
Total High Lots Bought In 3
High Buy In % 100.00%
Aggregate High Estimate of High Lots $200000
Total Proceeds from High Lots $0

The top lot by High estimate was tied between two lots: lot 2, Henri Cartier-Bresson, On the Banks of the Marne, France, 1938/1968, and lot 16, Henri Cartier-Bresson, Coney Island, New York, 1946, both estimated at $50000-70000 (images in preview post); neither lot was sold. The top outcome of the sale was lot 3, Henri Cartier-Bresson, Behind the Gare St. Lazare, Paris, 1932/1964, estimated at $15000-25000, sold at $81250 (image above, via Christie’s).

Only 56.00% 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) (images above via Christie’s):

Lot 1, Henri Cartier-Bresson, Hyères, France, 1932/early 1960s, estimated at $10000-15000, sold at $35000

Lot 3, Henri Cartier-Bresson, Behind the Gare St. Lazare, Paris, 1932/1964, estimated at $15000-25000, sold at $81250

The complete lot by lot results can be found here.

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