Auction Results: Photographies – Collection Claude Berri, November 12, 2016 @Christie’s Paris

Weakness in the top price tier is what torpedoed Christie’s single owner Claude Berri collection sale in Paris last week. With only 3 out of the top 11 lots finding buyers (a whopping 72% buy-in rate for those lots), there was no way the rest of the sale could plausibly recover. In the end, the overall Buy-In rate for the entire sale settled at 33% and there were a handful of positive surprises, but the Total Sale Proceeds missed the low end of the pre-sale range by more than 400K.

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

Summary Statistics
Total Lots 69
Aggregate Pre Sale Low Estimate €1225500
Aggregate Pre Sale High Estimate €1845500
Total Lots Sold 46
Total Lots Bought In 23
Buy In % 33.33%
Total Sale Proceeds €820750

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

Detailed Breakdown
Low Total Lots 32
Total Low Lots Sold 25
Total Low Lots Bought In 7
Low Buy In % 21.88%
Aggregate High Estimate of Low Lots €154500
Total Proceeds from Low Lots €138875
Mid Total Lots 26
Total Mid Lots Sold 18
Total Mid Lots Bought In 8
Mid Buy In % 30.77%
Aggregate High Estimate of Mid Lots €481000
Total Proceeds from Mid Lots €305125
Total High Lots 11
Total High Lots Sold 3
Total High Lots Bought In 8
High Buy In % 72.73%
Aggregate High Estimate of High Lots €1210000
Total Proceeds from High Lots €376750

The top lot by High estimate was lot 43, Jeff Wall, Rear view, open air theatre, Vancouver, 2005, estimated at €300000-500000 (image in preview post). It was also the top outcome of the sale at €290500.

71.74% of the lots that sold had proceeds in or above the estimate range and there were a total of 7 surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 7, Brassaï, Femme-Amande, 1930-1940, estimated at €4000-6000, sold at €17500

Lot 19, Jean Painlevé, Pince de Galathée, 1928, estimated at €3000-5000, sold at €12500

Lot 51, Nan Goldin, Self-portrait in blue bathroom, London, 1980, estimated at €5000-7000, sold at €17500

Lot 55, Louise Lawler, War is terror, 2001-2003, estimated at €20000-30000, sold at €74500

Lot 62, Yto Barrada, Dos à la ville # 2, série ‘Le Belvédère – Mirador de la Kasbah’, 2002, estimated at €2000-3000, sold at €6875

Lot 64, Patrick Faigenbaum, Famille Ricci, Rome, 1987/1989, estimated at €1500-2500, sold at €6875

Lot 65, Patrick Faigenbaum, Famille Caracciolo di Melissano, Naples, 1991, estimated at €1500-2500, sold at €11875

Complete lot by lot results can be found here.

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Read more about: Brassaï (Gyula Halász), Eli Lotar and Jean Painlevé, Louise Lawler, Nan Goldin, Patrick Faigenbaum, Yto Barrada, Christie's

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