Auction Results: Photographs, April 10, 2024 @Sotheby’s (online)

The results from the recent Photographs sale at Sotheby’s solidly met expectations. Helped by high priced outcomes for prints by David Wojnarowicz and Jeff Wall, as well as a handful of other positive surprises, even with an overall Buy-In rate over 28% and some softness in the no reserve lots, the Total Sale Proceeds (of roughly $3.58M) fell smack in the middle of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 199
Aggregate Pre Sale Low Estimate $2913000
Aggregate Pre Sale High Estimate $4397000
Total Lots Sold 143
Total Lots Bought In 56
Buy In % 28.14%
Total Sale Proceeds $3580130

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

Detailed Breakdown
Low Total Lots 77
Total Low Lots Sold 60
Total Low Lots Bought In 17
Low Buy In % 22.08%
Aggregate High Estimate of Low Lots $595000
Total Proceeds from Low Lots $337820
Mid Total Lots 109
Total Mid Lots Sold 75
Total Mid Lots Bought In 34
Mid Buy In % 31.19%
Aggregate High Estimate of Mid Lots $2562000
Total Proceeds from Mid Lots $2020570
Total High Lots 13
Total High Lots Sold 8
Total High Lots Bought In 5
High Buy In % 38.46%
Aggregate High Estimate of High Lots $1240000
Total Proceeds from High Lots $1221740

The top lot by High estimate was lot 133, Irving Penn, Woman in Moroccan Palace (Lisa Fonssagrives-Penn), Marrakech, 1951/1983, estimated at $150000-250000; it sold at $152400, but it was not the top outcome of the sale. That honor was tied between two lots, both selling at $381000: lot 2, David Wojnarowicz, Untitled (Face in Dirt), 1991/1992-1993 (posthumous), estimated at $30000-50000, at lot 38, Jeff Wall, A Woman and Her Doctor, 1980-1981, estimated at $70000-90000 (images above via Sotheby’s).

72.03% of the lots that sold had proceeds in or above the estimate range, and there were a total of 9 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 1, Roman Signer, Nicht Loslassen, 1983, estimated at $3000-5000, sold at $16510

Lot 2, David Wojnarowicz, Untitled (Face in Dirt), 1991/1992-1993 (posthumous), estimated at $30000-50000, sold at $381000

Lot 33, Giuseppe Penone, Svolgere la Propria Pelle (To Unravel One’s Own Skin), 1970-1971, estimated at $10000-15000, sold at $40640

Lot 38, Jeff Wall, A Woman and Her Doctor, 1980-1981, estimated at $70000-90000, sold at $381000

Lot 45, William Eggleston, Untitled, 1972/1996, estimated at $25000-35000, sold at $76200

Lot 60, Ansel Adams, The Golden Gate (Before the Bridge), 1932/1965, estimated at $100000-150000, sold at $355600

Lot 114, Gordon Matta-Clark, Conical Intersect, 1975/1977, estimated at $15000-25000, sold at $57150

Lot 118, Vera Lutter, Pepsi II, Pepsi Cola, Long Island City, May 25, 1998, 1998, estimated at $8000-12000, sold at $27940

Lot 131, Richard Avedon,‘Renée, The New Look of Dior, Place de la Concorde, Paris’, August 1947, 1947/1978, estimated at $12000-18000, sold at $38100

The complete lot by lot results can be found here.

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Read more about: Ansel Adams, David Wojnarowicz, Giuseppe Penone, Gordon Matta-Clark, Jeff Wall, Richard Avedon, Roman Signer, Vera Lutter, William Eggleston, Sotheby's

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