The results of the various owner Photographs sale at Sotheby’s last week were relatively uneventful. The top lot El Lissitzky print sold within its estimate, and the overall Buy-In rate came in at roughly 30%. With a handful of positive surprises, the Total Sale Proceeds were just over $4M, a shade higher than 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 | 189 |
| Aggregate Pre Sale Low Estimate | $3994000 |
| Aggregate Pre Sale High Estimate | $6136000 |
| Total Lots Sold | 131 |
| Total Lots Bought In | 58 |
| Buy In % | 30.69% |
| Total Sale Proceeds | $4036875 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 64 |
| Total Low Lots Sold | 49 |
| Total Low Lots Bought In | 15 |
| Low Buy In % | 23.44% |
| Aggregate High Estimate of Low Lots | $500000 |
| Total Proceeds from Low Lots | $408125 |
| Mid Total Lots | 104 |
| Total Mid Lots Sold | 67 |
| Total Mid Lots Bought In | 37 |
| Mid Buy In % | 35.58% |
| Aggregate High Estimate of Mid Lots | $2796000 |
| Total Proceeds from Mid Lots | $1772500 |
| Total High Lots | 21 |
| Total High Lots Sold | 15 |
| Total High Lots Bought In | 6 |
| High Buy In % | 28.57% |
| Aggregate High Estimate of High Lots | $2840000 |
| Total Proceeds from High Lots | $1856250 |
The top lot by High estimate was lot 13, El Lissitzky, Pelikan Tinte, 1924, estimated at $300000-500000; it was also the top outcome of the sale at $462500 (image above via Sotheby’s).
86.26% of the lots that sold had proceeds in or above the estimate range and there were a total of 6 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 35, Annie Leibovitz, Demi Moore, Culver City, California, 1991/2010, estimated at $5000-7000, sold at $20000
Lot 70, Roy DeCarava, Coltrane + Elvin, 1960/later, estimated at $8000-12000, sold at $32500
Lot 97, Ansel Adams, Picket Fence, 1936, estimated at $15000-25000, sold at $62500
Lot 113, Hiro, Apollo 11, 9:32AM, 7-16-69 Maiden Voyage to the Moon, 1969, estimated at $15000-25000, sold at $60000
Lot 186, David Yarrow, Amboseli Kenya, 2018, estimated at $25000-35000, sold at $106250
Lot 189, Sebastião Salgado, Gold Mine, Serra Pelada, Brazil, 1986/later, estimated at $6000-9000, sold at $18750
The complete lot by lot results can be found here.
