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.
