All four of the major photography auctions that were scheduled to coincide with Paris Photo last week fought the headwinds of political uncertainty and ultimately failed to meet their aggregate low end estimates for total proceeds. The Christie’s various owner sale took place first and fared the best in the choppy conditions. While the top lot album by Amélie Guillot-Saguez sold in its range, the overall Buy-In rate was high (over 46%) and there were too few positive surprises to make up the difference. While the Total Sale Proceeds cleared €2M, that number still fell short of expectations.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 123 |
| Aggregate Pre Sale Low Estimate | €2293000 |
| Aggregate Pre Sale High Estimate | €3284000 |
| Total Lots Sold | 66 |
| Total Lots Bought In | 57 |
| Buy In % | 46.34% |
| Total Sale Proceeds | €2068875 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 43 |
| Total Low Lots Sold | 19 |
| Total Low Lots Bought In | 24 |
| Low Buy In % | 55.81% |
| Aggregate High Estimate of Low Lots | €234000 |
| Total Proceeds from Low Lots | €99250 |
| Mid Total Lots | 56 |
| Total Mid Lots Sold | 31 |
| Total Mid Lots Bought In | 25 |
| Mid Buy In % | 44.64% |
| Aggregate High Estimate of Mid Lots | €955000 |
| Total Proceeds from Mid Lots | €579875 |
| Total High Lots | 24 |
| Total High Lots Sold | 16 |
| Total High Lots Bought In | 8 |
| High Buy In % | 33.33% |
| Aggregate High Estimate of High Lots | €2095000 |
| Total Proceeds from High Lots | €1389750 |
The top lot by High estimate was lot 66, Amélie Guillot-Saguez, Rome (album including 37 plates), 1847, estimated at €200000-300000 (image in preview post). It was also the top outcome of the sale at €254500.
80.30% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):
Lot 10, Eugène Atget, Joueur de guitare, Paris, 1899, estimated at €30000-50000, sold at €108100
Lot 47, Eugène Atget, Coin, Rue de la Montagne Sainte Geneviève, Paris, 1923, estimated at €5000-7000, sold at €15000
Lot 53, Julia Margaret Cameron, Stella, Study of Julia Jackson (Mrs. Herbert Duckworth), 1867, estimated at €20000-30000, sold at €110500
Lot 60, Unidentified Photographer, Untitled (Parade Ground), c1850-1860, estimated at €5000-7000, sold at €16250
Complete lot by lot results can be found here.
