While the top lot Helmut Newton print did find a buyer within its estimate range at the Photographies sale at Christie’s in Paris last week, a too high Buy-In rate (of more than 45%) dampened the overall outcome. Only two positive surprises jumped out of the general flow of buying and selling, leading to Total Sale Proceeds (of roughly €1.3M) that just missed the bottom end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
|Aggregate Pre Sale Low Estimate||€1418800|
|Aggregate Pre Sale High Estimate||€2122900|
|Total Lots Sold||67|
|Total Lots Bought In||55|
|Buy In %||45.53%|
|Total Sale Proceeds||€1318968|
Here is the breakdown (using our typical Low, Mid, and High definitions). Given recent currency fluctuations, we have once again re-adapted our local currency thresholds to match roughly $10000 and $50000 break points between categories.
|Low Total Lots||80|
|Total Low Lots Sold||43|
|Total Low Lots Bought In||37|
|Low Buy In %||46.25%|
|Aggregate High Estimate of Low Lots||€439900|
|Total Proceeds from Low Lots||€234108|
|Mid Total Lots||32|
|Total Mid Lots Sold||18|
|Total Mid Lots Bought In||14|
|Mid Buy In %||43.75%|
|Aggregate High Estimate of Mid Lots||€653000|
|Total Proceeds from Mid Lots||€418320|
|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||€1030000|
|Total Proceeds from High Lots||€666540|
The top lot by High estimate was lot 118, Helmut Newton, “Eiffel Tower”, Paris, 1974, estimated at €300000-500000; it was also the top outcome of the sale at €378000 (image above, via Christie’s).
92.54% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):
Lot 131, Jack Pierson, Self Portrait #4, 2003, estimated at €5000-7000, sold at €15120
Lot 163, Sylvie Fleury, Cool Girl, Diosa de la Moda, Vogue Espagne, 2012, estimated at €1500-2000, sold at €4410
Complete lot by lot results can be found here.