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 |
| Aggregate Pre Sale Low Estimate | $3141000 |
| Aggregate Pre Sale High 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 |
| Total Low Lots Sold | 30 |
| Total Low Lots Bought In | 13 |
| Low Buy In % | 30.23% |
| Aggregate High Estimate of Low Lots | $315000 |
| Total Proceeds from Low Lots | $227125 |
| Mid Total Lots | 115 |
| Total Mid Lots Sold | 79 |
| Total Mid Lots Bought In | 36 |
| Mid Buy In % | 31.30$ |
| Aggregate High Estimate of Mid Lots | $2622000 |
| Total Proceeds from Mid Lots | $2067125 |
| Total High Lots | 13 |
| Total High Lots Sold | 8 |
| Total High Lots Bought In | 5 |
| High Buy In % | 38.46% |
| Aggregate High Estimate of High Lots | $1830000 |
| Total Proceeds from High Lots | $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.
