Auction Results: Photographs, April 2, 2014 @Sotheby’s

With a few high priced passes and an overall Buy-In rate over 30%, Sotheby’s various owner Photographs sale never quite reached escape velocity. While there were a handful of positive surprises to bolster the numbers, the Total Sale Proceeds missed the low end of the pre sale estimate range.

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

Summary Statistics
Total Lots 186
Aggregate Pre Sale Low Estimate $4207000
Aggregate Pre Sale High Estimate $6364000
Total Lots Sold 130
Total Lots Bought In 56
Buy In % 30.11%
Total Sale Proceeds $4032751

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 75
Total Low Lots Sold 56
Total Low Lots Bought In 19
Low Buy In % 25.33%
Aggregate High Estimate of Low Lots $603000
Total Proceeds from Low Lots $486251
Mid Total Lots 85
Total Mid Lots Sold 55
Total Mid Lots Bought In 30
Mid Buy In % 35.29%
Aggregate High Estimate of Mid Lots $2031000
Total Proceeds from Mid Lots $1471250
Total High Lots 26
Total High Lots Sold 19
Total High Lots Bought In 7
High Buy In % 26.92%
Aggregate High Estimate of High Lots $3730000
Total Proceeds from High Lots $2075250

The top lot by High estimate was tied between two lots: lot 57, Alfred Stieglitz, Georgia O’Keeffe (By Car), 1933, and lot 106, Alfred Stieglitz, Georgia O’Keeffe (Nude Study), 1918-1919 (image above, right, via Sotheby’s), both estimated at $300000-500000; the car portrait did not sell, while the nude was the top outcome of the sale at $365000.

86.15% of the lots that sold had proceeds in or above the estimate range, and there were 9 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 5, William Garnett, Appalachian Mountains, Pennsylvania, 1957/1963, estimated at $5000-7000, sold at $15000

Lot 56, Margaret Bourke-White, Selected images of the Chrysler Building Construction, 1929-1930, estimated at $30000-50000, sold at $112500 (image above, middle, via Sotheby’s)

Lot 94, Bill Brandt, Belgravia, London (Nude), 1951, estimated at $20000-30000, sold at $68750

Lot 105, Frantisek Drtikol, Nude, 1929, estimated at $30000-50000, sold at $100000 (image above, left, via Sotheby’s)

Lot 138, Francesca Woodman, Untitled (Providence, Rhode Island), 1975-1976, estimated at $12000-18000, sold at $43750

Lot 163, Irving Penn, Two Girls in Wartime Clothes (Dorian Leigh and Evelyn Tripp), 1950/1964, estimated at $15000-25000, sold at $50000

Lot 167, Irving Penn, Ballet Theatre Group, New York, 1947, estimated at $7000-10000, sold at $20000

Lot 168, Jerry Schatzberg, Bob Dylan Smoke, 1965/later, estimated at $5000-7000, sold at $28125

Lot 176, Lucas Samaras, Photo-transformation 11/29/73, 1973, estimated at $6000-9000, sold at $20000 (image above, right, via Sotheby;s)

Complete lot by lot results can be found here.

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Read more about: František Drtikol, Lucas Samaras, Margaret Bourke-White, Sotheby's

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