Auction Results: Photographs, April 26, 2016 @Bonhams

The results from Bonhams’ recent Photographs sale were entirely forgettable. With an overall Buy-In rate near 40%, many lots selling below their estimate ranges, and no positive surprises, the action was muted, and the Total Sale Proceeds missed the low end of the aggregate pre-sale range by a significant margin.

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

Summary Statistics
Total Lots 108
Aggregate Pre Sale Low Estimate $638500
Aggregate Pre Sale High Estimate $953500
Total Lots Sold 65
Total Lots Bought In 43
Buy In % 39.81%
Total Sale Proceeds $421937

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

Detailed Breakdown
Low Total Lots 89
Total Low Lots Sold 55
Total Low Lots Bought In 34
Low Buy In % 38.20%
Aggregate High Estimate of Low Lots $538500
Total Proceeds from Low Lots $261312
Mid Total Lots 19
Total Mid Lots Sold 10
Total Mid Lots Bought In 9
Mid Buy In % 47.37%
Aggregate High Estimate of Mid Lots $415000
Total Proceeds from Mid Lots $160625
Total High Lots 0
Total High Lots Sold NA
Total High Lots Bought In NA
High Buy In % NA
Aggregate High Estimate of High Lots $0
Total Proceeds from High Lots $0

The top lot by High estimate was tied between two lots: lot 13, Ansel Adams, Winter Sunrise, Sierra Nevada from Lone Pine, California, 1944/1962, and lot 14, Ansel Adams, The Grand Tetons and the Snake River, Grand Teton National Park, Wyoming, 1942/1978, both estimated at $30000-50000 (images in preview post). Lot 14 was the top outcome of the sale at $31250, while Lot 13 did not sell.

Only 55.38% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sale (defined as having proceeds of at least double the high estimate). The closest thing to a positive surprise was lot 36, Henri Cartier-Bresson, Ile de la Cité, Paris, 1952/1990s, estimated at $10000-15000, sold at $25000 (image above via Bonhams).

The complete lot by lot results can be found here.

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Read more about: Henri Cartier-Bresson, Bonhams

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