Auction Results: Photographs, April 3, 2024 @Christie’s (online)

Weakness in the top price tier softened the results of the Photographs sale at Christie’s last week. The top lot William Eggleston print failed to sell, as did other high priced lots from Eggleston, Edward Weston, and Peter Beard. But the overall Buy-In rate hovered near 28% and more than a handful of positive surprises helped out, so when the tally was complete, the Total Sale Proceeds (of roughly $2.78M) came in just above 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 164
Aggregate Pre Sale Low Estimate $2571000
Aggregate Pre Sale High Estimate $3781500
Total Lots Sold 119
Total Lots Bought In 45
Buy In % 27.44%
Total Sale Proceeds $2774394

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

Detailed Breakdown
Low Total Lots 65
Total Low Lots Sold 46
Total Low Lots Bought In 19
Low Buy In % 29.23%
Aggregate High Estimate of Low Lots $457000
Total Proceeds from Low Lots $335034
Mid Total Lots 84
Total Mid Lots Sold 65
Total Mid Lots Bought In 19
Mid Buy In % 22.32%
Aggregate High Estimate of Mid Lots $1684500
Total Proceeds from Mid Lots $1378440
Total High Lots 15
Total High Lots Sold 8
Total High Lots Bought In 7
High Buy In % 46.67%
Aggregate High Estimate of High Lots $1640000
Total Proceeds from High Lots $1060920

The top lot by High estimate was lot 79, William Eggleston, Memphis, 1971/1999, estimated at $250000-350000; it did not sell. The top outcome of the sale was lot 88, Irving Penn, The Hand of Miles Davis, New York, July 1, 1986, 1986, estimated at $100000-150000, sold at $302400 (image above, via Christie’s.)

89.08% of the lots that sold had proceeds in or above the estimate range and there were a total of 8 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 12, Ansel Adams, Autumn, Yosemite, 1938/1938-1944, estimated at $7000-9000, sold at $18900

Lot 68, Josef Koudelka, Czechoslovakia, Prague, from Exiles, August 1968, 1968/later, estimated at $10000-15000, sold at $56700

Lot 69, Ralph Eugene Meatyard, Romance (N). Of Ambrose Bierce #3, 1962, estimated at $10000-15000, sold at $44100

Lot 86, Robert Mapplethorpe, Rose, 1982, estimated at $10000-15000, sold at $30240

Lot 88, Irving Penn, The Hand of Miles Davis, New York, July 1, 1986, 1986, estimated at $100000-150000, sold at $302400

Lot 91, Peter Hujar, Self-Portrait (with string around his neck), 1980, estimated at $50000-70000, sold at $252000

Lot 101, Ana Mendieta, Untitled (from Silueta series), 1978, estimated at $15000-25000, sold at $81900

Lot 124, Sebastião Salgado, Fireball, Greater Burhan Oil Field, Kuwait, 1991, estimated at $8000-12000, sold at $25200

The complete lot by lot results can be found here.

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Read more about: Ana Mendieta, Ansel Adams, Irving Penn, Josef Koudelka, Peter Hujar, Ralph Eugene Meatyard, Robert Mapplethorpe, Sebastião Salgado, Christie's

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