Auction Results: Photographies, November 10, 2016 @Sotheby’s Paris

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.

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