Auction Results: New York par Berenice Abbott Collection Kaspar M. Fleischmann, November 14, 2014 @Christie’s Paris

The results from Christie’s single artist/single owner sale of the work of Berenice Abbott during Paris Photo were generally divided into two buckets – the middle priced (and more recognizable) lots which performed decently well, and the lower priced (and lesser known) lots which languished a bit. Overall, the Buy-In rate came in under 25% and the Total Sale Proceeds successfully fell squarely into the middle of the pre-sale range.

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

Summary Statistics
Total Lots 67
Aggregate Pre Sale Low Estimate €390000
Aggregate Pre Sale High Estimate €559000
Total Lots Sold 51
Total Lots Bought In 16
Buy In % 23.88%
Total Sale Proceeds €463500

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

Detailed Breakdown
Low Total Lots 40
Total Low Lots Sold 27
Total Low Lots Bought In 13
Low Buy In % 32.50%
Aggregate High Estimate of Low Lots €246000
Total Proceeds from Low Lots €146000
Mid Total Lots 27
Total Mid Lots Sold 24
Total Mid Lots Bought In 3
Mid Buy In % 11.11%
Aggregate High Estimate of Mid Lots €313000
Total Proceeds from Mid Lots €317500
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 NA

The top lot by High estimate was tied between three lots: lot 201, Berenice Abbott, Murray Hill Hotel, 112 Park Avenue, Manhattan, 1935, lot 227, Berenice Abbott, Midtown Manhattan, 1932, and lot 258, Berenice Abbott, George Washington Bridge, 129th Street and Riverside Drive, Manhattan, January 17, 1936, all estimated at €15000-20000; Murray Hill Hotel was the top outcome of the sale at €27500, while Midtown Manhattan sold for €13750 and George Washington Bridge sold for €15000.

Only 68.63% of the lots that sold had proceeds in or above the estimate range and there was only 1 surprise in the sale (defined as having proceeds of at least double the high estimate):

Lot 224, Berenice Abbott, Cedar Street from William, Manhattan, 1936, estimated at €5000-7000, sold at €16250 (image above, left, via Christie’s)

Complete lot by lot results can be found here.

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