The results from the recent photography sale at Millon in Paris were generally underwhelming. A 1940s Man Ray rayograph took the top lot honors, and there were a number of lower priced positive surprises, but not enough to compensate for an overall Buy-In rate above 45%. In the end, the Total Sale Proceeds (of roughly €305K) fell well below 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 | 359 |
| Aggregate Pre Sale Low Estimate | €439130 |
| Aggregate Pre Sale High Estimate | €594100 |
| Total Lots Sold | 197 |
| Total Lots Bought In | 162 |
| Buy In % | 45.13% |
| Total Sale Proceeds | €307988 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 349 |
| Total Low Lots Sold | 193 |
| Total Low Lots Bought In | 156 |
| Low Buy In % | 44.70% |
| Aggregate High Estimate of Low Lots | €397100 |
| Total Proceeds from Low Lots | €225488 |
| Mid Total Lots | 10 |
| Total Mid Lots Sold | 4 |
| Total Mid Lots Bought In | 6 |
| Mid Buy In % | 60.00% |
| Aggregate High Estimate of Mid Lots | €197000 |
| Total Proceeds from Mid Lots | €82500 |
| Total High Lots | 0 |
| Total High Lots Sold | NA |
| Total High Lots Bought In | NA |
| High Buy In % | NA |
| Aggregate High Estimate of High Lots | €0 |
| Total Proceeds from High Lots | €0 |
The top lot by High estimate was lot 79, Brassaï, Graffiti (Series IX, Primitive Images), c1933-1956/c1960, estimated at €40000-50000; it did not sell. The top outcome of the sale was lot 50, Man Ray, Rayogram, 1947, estimated at €20000-30000, sold at €42500 (image above, via Millon).
98.48% of the lots that sold had proceeds in or above the estimate range, and there were a total of 20 positive surprises in the sale (defined as having proceeds of at least double the high estimate); listed below are the 7 of those surprises that found buyers at prices of €2000 or above (images above, via Millon):
Lot 17, Victor Collin de Plancy, The Boxer War (albums), 1880-1890, estimated at €1500-2000, sold at €8125
Lot 42, Alexander Rodchenko, Pines in Pushkin, 1927/c1950-1960, estimated at €600-800, sold at €6250
Lot 90, Louis-Maurice Boutet de Monvel, The painter Gauguin in a Breton vest, 1891, estimated at €1000-1500, sold at €3500
Lot 91, Charles Karl Bodmer, The painter Paul Cézanne in the ferns at Barbizon, 1894, estimated at €400-600, sold at €4000
Lot 100, Mimmo Jodice, Atleta della Villa dei Papiri, Ercolano, from the Méditerraneo series, 1986, estimated at €500-800, sold at €4000
Lot 161, Bernard Faucon, Le Vitrail, 13° chambre d’amour, 1985, estimated at €700-800, sold at €2040
Lot 162, Bernard Faucon, La Chambre du Pharaon, 16° chambre d’amour, 1986/1987, estimated at €700-800, sold at €2423
Complete lot by lot results can be found here.
