The results from Sotheby’s various owner sale last Saturday might best be called workmanlike. A decent Buy-In rate (just under $24%), a few positive surprises, and Total Sale Proceeds that fell within the range (albeit on the low side) add up to an outcome that was solid, if uneventful.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 239 |
| Aggregate Pre Sale Low Estimate | $4546000 |
| Aggregate Pre Sale High Estimate | $6946000 |
| Total Lots Sold | 182 |
| Total Lots Bought In | 57 |
| Buy In % | 23.85% |
| Total Sale Proceeds | $5061190 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 97 |
| Total Low Lots Sold | 71 |
| Total Low Lots Bought In | 26 |
| Low Buy In % | 26.80% |
| Aggregate High Estimate of Low Lots | $705000 |
| Total Proceeds from Low Lots | $530315 |
| Mid Total Lots | 117 |
| Total Mid Lots Sold | 94 |
| Total Mid Lots Bought In | 23 |
| Mid Buy In % | 19.66% |
| Aggregate High Estimate of Mid Lots | $2871000 |
| Total Proceeds from Mid Lots | $2592625 |
| Total High Lots | 25 |
| Total High Lots Sold | 17 |
| Total High Lots Bought In | 8 |
| High Buy In % | 32.00% |
| Aggregate High Estimate of High Lots | $3370000 |
| Total Proceeds from High Lots | $1938250 |
The top lot by High estimate was lot 165, Man Ray, Calla Lilies, 1931, estimated at $300000-500000; it did not sell. The top outcome of the sale was lot 151, Robert Frank, New Orleans (Trolley), 1955/1972, estimated at $200000-250000, sold at $293000.
84.07% of the lots that sold had proceeds in or above the estimate range. There were a total of 9 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 17, Anonymous American Photographer, Three Men Smoking, 1840s, estimated at $5000-10000, sold at $23750
Lot 36, Paul Strand, Photographs of Mexico, 1932-1933/1940, estimated at $10000-15000, sold at $37500
Lot 38, Laura Gilpin, Selected Studies, 1925-1937, estimated at $5000-7000, sold at $16250
Lot 72, Minor White, Selected Images, 1957-1960/1970, estimated at $3000-5000, sold at $10000
Lot 80, Various Photographers, Select Portraits and Landscapes, 1860-1930, estimated at $500-1000, sold at $3125
Lot 121, Robert Frank, Tesuque, NM (Santa Fe), 1955/later, estimated at $25000-35000, sold at $137000 (image at right, top, via Sotheby’s)
Lot 173, Laszlo Moholy-Nagy, Untitled (Positive Photogram), 1925-1928, estimated at $30000-50000, sold at $185000(image at right, middle, via Sotheby’s)
Lot 224, Francesca Woodman, Untitled, Self-Portrait, Providence, Rhode Island, 1975-1976, estimated at $10000-15000, sold at $68750 (image at right, bottom, via Sotheby’s)
Lot 225, Francesca Woodman, Untitled, Providence, Rhode Island, 1975-1976, estimated at $8000-12000, sold at $37500
Complete lot by lot results can be found here.
