Auction Results: Photographies, November 8, 2018 @Christie’s Paris

The results from the recent various owner photography sale at Christie’s in Paris were generally uneventful. Even with the top lot Richard Avedon print (a portrait of Francis Bacon) finding a buyer and a handful of positive surprises, the overall Buy-In rate was just too high (over 45%), and so the Total Sale Proceeds fell below the low end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 104
Aggregate Pre Sale Low Estimate €1341500
Aggregate Pre Sale High Estimate €1861500
Total Lots Sold 57
Total Lots Bought In 47
Buy In % 45.19%
Total Sale Proceeds €1172500

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 28
Total Low Lots Sold 16
Total Low Lots Bought In 12
Low Buy In % 42.86%
Aggregate High Estimate of Low Lots €162500
Total Proceeds from Low Lots €111875
Mid Total Lots 70
Total Mid Lots Sold 38
Total Mid Lots Bought In 32
Mid Buy In % 45.71%
Aggregate High Estimate of Mid Lots €1309000
Total Proceeds from Mid Lots €835625
Total High Lots 6
Total High Lots Sold 3
Total High Lots Bought In 3
High Buy In % 50.00%
Aggregate High Estimate of High Lots €390000
Total Proceeds from High Lots €225000

The top lot by High estimate was lot 61, Richard Avedon, Francis Bacon, Paris, 1979, estimated at €70000-90000. It was also the top outcome of the sale at €87500 (Image above, via Christie’s).

91.23% of the lots that sold had proceeds in or above the estimate range and there were a total of 6 surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 15, Shirin Neshat, Untitled, 1996, estimated at €20000-30000, sold at €60000

Lot 30, Nobuyoshi Araki, Untitled (Kinbaku), 2008, estimated at €5000-7000, sold at €17500

Lot 53, Henri Cartier-Bresson, Seville, Spain, 1933, estimated at €20000-30000, sold at €65000

Lot 64, Helmut Newton, Shoe, Monte Carlo, 1983, estimated at €10000-15000, sold at €32500

Lot 80, Helmut Newton, Sumo, 1999, estimated at €3000-5000, sold at €10000

Lot 97, Steven Klein, Neck I, II, III, IV, 1995, estimated at €6000-8000, sold at €16250

Complete lot by lot results can be found here.

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Read more about: Helmut Newton, Henri Cartier-Bresson, Nobuyoshi Araki, Richard Avedon, Shirin Neshat, Steven Klein, Christie's

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