Auction Results: Photographs, April 3, 2014 @Christie’s

In many ways, the outcome of Christie’s various owner Photographs sale was entirely predictable – a surfeit of later prints led to prices that generally traded in their expected ranges. With an overall Buy-In rate near 30% and very few positive surprises to make up for the passed lots, the Total Sale Proceeds came in at 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 212
Aggregate Pre Sale Low Estimate $4045000
Aggregate Pre Sale High Estimate $6030500
Total Lots Sold 150
Total Lots Bought In 62
Buy In % 29.25%
Total Sale Proceeds $4203188

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

Detailed Breakdown
Low Total Lots 70
Total Low Lots Sold 55
Total Low Lots Bought In 15
Low Buy In % 21.43%
Aggregate High Estimate of Low Lots $524500
Total Proceeds from Low Lots $438563
Mid Total Lots 113
Total Mid Lots Sold 73
Total Mid Lots Bought In 40
Mid Buy In % 35.40%
Aggregate High Estimate of Mid Lots $2766000
Total Proceeds from Mid Lots $1844375
Total High Lots 29
Total High Lots Sold 22
Total High Lots Bought In 7
High Buy In % 24.14%
Aggregate High Estimate of High Lots $2740000
Total Proceeds from High Lots $1920250

The top lot by High estimate was tied between three lots: lot 114, Peter Beard, Orphaned Cheetah Cubs at Feeding Time, Mweiga, Near Nyeri, Kenya, 1968/2001, lot 124, Irving Penn, Woman with Roses on Her Arm (Lisa Fonssagrives-Penn), 1950/1977, and lot 241, Irving Penn, Cuzco Children, 1948/1977, each estimated at $150000-250000. The Beard and Penn Cuzco Children didn’t sell, while the Penn Woman with Roses on Her Arm sold at $185000. The top outcome of the sale was lot 302, Irving Penn, Frozen Foods, New York, 1977/1984, estimated at $60000-80000, sold at $191000 (image above, left, via Christie’s).

92.00% of the lots that sold had proceeds in or above the estimate range, and there were 4 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 115, Nick Brandt, Leopard Staring, Masai Mara, 2010, estimated at $25000-35000, sold at $75000 (image above, middle, via Christie’s)

Lot 128, Richard Avedon, Made in France, 2001, estimated at $8000-12000, sold at $27500

Lot 198, Ray Metzker, Philadelphia, 1963/1986 ,estimated at $5000-7000, sold at $20625 (image above, right, via Christie’s)

Lot 302, Irving Penn, Frozen Foods, New York, 1977/1984, estimated at $60000-80000, sold at $191000 (image above, left, via Christie’s)

Complete lot by lot results can be found here.

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Read more about: Irving Penn, Nick Brandt, Ray K. Metzker, Christie's

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