Auction Results: Photographs, April 6, 2018 @Christie’s

The results from Christie’s recent various owner Photographs sale in New York were generally in line with expectations. New auction records were set for works by Alec Soth, Olivo Barbieri, and Clifford Ross, and with a few additional positive surprises to balance an overall Buy-In rate over 30%, the Total Sale Proceeds 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 171
Pre Sale Low Total Estimate $3141000
Pre Sale High Total Estimate $4767000
Total Lots Sold 117
Total Lots Bought In 54
Buy In % 31.58%
Total Sale Proceeds $3432000

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

Detailed Breakdown
Low Total Lots 43
Low Sold 30
Low Bought In 13
Low Buy In % 30.23%
Total Low Estimate $315000
Total Low Sold $227125
Mid Total Lots 115
Mid Sold 79
Mid Bought In 36
Mid Buy In % 31.30$
Total Mid Estimate $2622000
Total Mid Sold $2067125
Total High Lots 13
High Sold 8
High Bought In 5
High Buy In % 38.46%
Total High Estimate $1830000
Total High Sold $1137750

The top lot by High estimate was lot 115, Richard Avedon, Dovima with Elephants, Evening Dress by Dior, Cirque d’Hiver, Paris, 1955/1979, estimated at $300000-500000; it was also the top outcome of the sale at $456500 (image above via Christie’s).

94.02% 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 Christie’s):

Lot 3, Olivo Barbieri, The Dolomites Project #7, 2010, estimated at $6000-8000, sold at $21250

Lot 12, Clifford Ross, Grain VII, 2001, estimated at $8000-12000, sold at $32500

Lot 15, Edward Burtynsky, Manufacturing #17, Deda Chicken Processing Plant, Dehui City, Jilin Province, China, 2005, estimated at $10000-15000, sold at $30000

Lot 16, Nan Goldin, Casta Diva, 1993-1995/2000, estimated at $6000-8000, sold at $16250

Lot 31, Peter Hujar, ‘If Only I Spoke French’ (Greer Lankton in Jean-Charles de Castelbajac sheets), 1983, estimated at $15000-20000, sold at $40000

Lot 66, Lisette Model, Lisette Model: Twelve Photographs, 1976, estimated at $10000-15000, sold at $35000

The complete lot by lot results can be found here.

Clifford Ross, Edward Burtynsky, Lisette Model, Nan Goldin, Olivo Barbieri, Peter Hujar, Richard Avedon, Christie's

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