The results from the recent Photographs sale at Sotheby’s were generally uneventful. An Ansel Adams moonrise print was the top outcome of the sale, and with an overall Buy-In rate under 20%, even with just a handful of positive surprises, the Total Sale Proceeds (of roughly $2.8M) found 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 | 128 |
| Aggregate Pre Sale Low Estimate | $2437000 |
| Aggregate Pre Sale High Estimate | $3623000 |
| Total Lots Sold | 103 |
| Total Lots Bought In | 25 |
| Buy In % | 19.53% |
| Total Sale Proceeds | $2811426 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 41 |
| Total Low Lots Sold | 39 |
| Total Low Lots Bought In | 2 |
| Low Buy In % | 4.88% |
| Aggregate High Estimate of Low Lots | $327000 |
| Total Proceeds from Low Lots | $306070 |
| Mid Total Lots | 75 |
| Total Mid Lots Sold | 54 |
| Total Mid Lots Bought In | 21 |
| Mid Buy In % | 28.00% |
| Aggregate High Estimate of Mid Lots | $1696000 |
| Total Proceeds from Mid Lots | $1019456 |
| Total High Lots | 12 |
| Total High Lots Sold | 10 |
| Total High Lots Bought In | 2 |
| High Buy In % | 16.67% |
| Aggregate High Estimate of High Lots | $1600000 |
| Total Proceeds from High Lots | $1485900 |
The top lot by High estimate was lot 47, Ansel Adams, Moonrise, Hernandez, New Mexico, 1941/c1942, estimated at $500000-700000; it was also the top outcome of the sale at $635000 (image above via Sotheby’s).
70.87% of the lots that sold had proceeds in or above the estimate range, and there were a total of 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 42, Ansel Adams, Teton Landscapes (3 photographs), c1965, estimated at $6000-9000, sold at $50800
Lot 43, Ansel Adams, The Tetons and the Snake River, Grand Teton National Park, Wyoming, 1942/1978, estimated at $50000-70000, sold at $152400
Lot 49, Ansel Adams, Aspens, New Mexico (Vertical), 1958/1962 or 1963, estimated at $8000-12000, sold at $38100
Lot 82, Helen Levitt, New York (Two Children in Window), c1939, estimated at $5000-7000, sold at $19050
Lot 124, Harold Edgerton, Harold Edgerton: Ten Dye Transfer Photographs (portfolio), 1938-1973/1985, estimated at $8000-12000, sold at $27940
The complete lot by lot results can be found here.
