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.
