While a number of albums/sets of 19th century views by Ernest de Caranza & Emile Charles Labbé did their best to create some positive momentum at the Sotheby’s various owner Photographies sale in Paris last week, it wasn’t enough to overcome an overall Buy-In rate over 50%. With so many lots failing to sell, the few positive surprises that did occur couldn’t keep pace. As a result, the Total Sale Proceeds missed the low end of the pre-sale range by more than €300K.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 103 |
| Aggregate Pre Sale Low Estimate | €1579000 |
| Aggregate Pre Sale High Estimate | €2292000 |
| Total Lots Sold | 51 |
| Total Lots Bought In | 52 |
| Buy In % | 50.49% |
| Total Sale Proceeds | €1271900 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 23 |
| Total Low Lots Sold | 9 |
| Total Low Lots Bought In | 14 |
| Low Buy In % | 60.87% |
| Aggregate High Estimate of Low Lots | €145000 |
| Total Proceeds from Low Lots | €54000 |
| Mid Total Lots | 67 |
| Total Mid Lots Sold | 38 |
| Total Mid Lots Bought In | 29 |
| Mid Buy In % | 43.28% |
| Aggregate High Estimate of Mid Lots | €1202000 |
| Total Proceeds from Mid Lots | €850400 |
| Total High Lots | 13 |
| Total High Lots Sold | 4 |
| Total High Lots Bought In | 9 |
| High Buy In % | 69.23% |
| Aggregate High Estimate of High Lots | €945000 |
| Total Proceeds from High Lots | €367500 |
The top lot by High estimate was lot 67, William Eggleston, Untitled (Memphis), 1972/1986, estimated at €150000-200000 (image in preview post); it did not sell. The top outcome of the sale was lot 1, Ernest de Caranza & Emile Charles Labbé, Mont Athos, Couvents Grecs, Turquie (album of 87 salt prints), 1853, estimated at €50000-70000, sold at €183000 (image above via Sotheby’s).
98.04% 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 Sotheby’s):
Lot 1, Ernest de Caranza & Emile Charles Labbé, Mont Athos, Couvents Grecs, Turquie (album of 87 salt prints), 1853, estimated at €50000-70000, sold at €183000
Lot 4, Ernest de Caranza & Emile Charles Labbé, Couvents de Philotéo, Lavra, St Paul et Skite de Ste Anne, St Grégoire, Simono-Petra, Mont Athos (23 salt prints and 24 negatives), 1853, estimated at €10000-15000, sold at €37500
Lot 10, Ernest de Caranza, Constantinople et Ses Environs (49 waxed paper negatives), 1852-1854, estimated at €20000-30000, sold at €93000
Lot 41, Man Ray, Tanja Rmm, Portrait Solarise, 1931, estimated at €2000-30000, sold at €77400
Complete lot by lot results can be found here.
