Auction Results: Photographies, November 9, 2018 @Sotheby’s Paris

The top lot Richard Avedon print failed to find a buyer at Sotheby’s recent various owner Photographies sale in Paris, and consequently, the overall results were noticeably soft. With a decent Buy-In rate (at just under 35%) but only 3 positive surprises, the Total Sale Proceeds fell well 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 75
Aggregate Pre Sale Low Estimate €1516000
Aggregate Pre Sale High Estimate €2245000
Total Lots Sold 49
Total Lots Bought In 26
Buy In % 34.67%
Total Sale Proceeds €870875

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

Detailed Breakdown
Low Total Lots 24
Total Low Lots Sold 16
Total Low Lots Bought In 8
Low Buy In % 33.33%
Aggregate High Estimate of Low Lots €142000
Total Proceeds from Low Lots €114000
Mid Total Lots 44
Total Mid Lots Sold 29
Total Mid Lots Bought In 15
Mid Buy In % 34.09%
Aggregate High Estimate of Mid Lots €733000
Total Proceeds from Mid Lots €484375
Total High Lots 7
Total High Lots Sold 4
Total High Lots Bought In 3
High Buy In % 42.86%
Aggregate High Estimate of High Lots €1370000
Total Proceeds from High Lots €272500

The top lot by High estimate was lot 57, Richard Avedon, Dovima with Elephants, Evening Dress by Dior, Cirque d’Hiver, Paris, 1955/1962, estimated at €600000-900000; it did not sell. The top outcome of the sale was lot 67, Constantin Brancusi, Vu d’atelier, c1923, estimated at €30000-50000, sold at €106250 (image above, via Sotheby’s).

85.71% of the lots that sold had proceeds in or above the estimate range and there were a total of 3 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 29, Joseph Philibert Girault de Prangey, Portrait d’une jeune femme, fleur a la main, c1842, estimated at €8000-12000, sold at €35000

Lot 50, Francesca Woodman, Space2, Providence, Rhode Island, 1976, estimated at €4000-6000, sold at €25000

Lot 67, Constantin Brancusi, Vu d’atelier, c1923, estimated at €30000-50000, sold at €106250

Complete lot by lot results can be found here.

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Read more about: Constantin Brancusi, Francesca Woodman, Joseph-Philibert Girault de Prangey, Sotheby's

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