The outcomes for the photography included in the contemporary sales at Sotheby’s in New York last week (at their new location in the Breuer building on Madison Avenue) were largely uneventful. There were no photography lots in the high profile Leonard Lauder collection sales, and only one photo in the Now & Contemporary Evening auction – a Helmut Newton big nude triptych which found a buyer below its estimate range. With some softness in the higher priced photography lots in the Contemporary Day sale, and only one positive surprise, the Total Sale Proceeds for photography across the two sales (of roughly $2.6M) came in 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 | 18 |
| Aggregate Pre Sale Low Estimate | $3278000 |
| Aggregate Pre Sale High Estimate | $4807000 |
| Total Lots Sold | 14 |
| Total Lots Bought In | 4 |
| Buy In % | 22.22% |
| Total Sale Proceeds | $2613535 |
Here is the breakdown (using our usual Low, Mid, and High price tier definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 2 |
| Total Low Lots Sold | 2 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $12000 |
| Total Proceeds from Low Lots | $14605 |
| Mid Total Lots | 6 |
| Total Mid Lots Sold | 6 |
| Total Mid Lots Bought In | 0 |
| Mid Buy In % | 0.00% |
| Aggregate High Estimate of Mid Lots | $175000 |
| Total Proceeds from Mid Lots | $265430 |
| Total High Lots | 10 |
| Total High Lots Sold | 6 |
| Total High Lots Bought In | 4 |
| High Buy In % | 40.00% |
| Aggregate High Estimate of High Lots | $4620000 |
| Total Proceeds from High Lots | $2333500 |
The top photography lot by High estimate was lot 142, Helmut Newton, Walking Women, Paris, 1981, estimated at $1200000-1800000; it was also the top photography outcome of the sales at $1000000 (image above, via Sotheby’s).
85.71% of the lots that sold had proceeds in or above the estimate range and there was 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate) (image above, via Sotheby’s):
Lot 600, Wolfgang Tillmans, last still-life, NY, 1995, estimated at $20000-30000, sold at $63500
The complete lot by lot results can be found here (Now & Contemporary Evening) and here (Contemporary Day).
