Auction Results: Photographs Including Property from the Museum of Modern Art, October 10, 2017 @Christie’s

The results from the recent various owner photographs sale (including works from the collection of the Museum of Modern Art) were admirably consistent. The Buy-In rate was relatively steady across all price tiers (perhaps due to the desirable provenance), coming in just under 25% in aggregate. With a handful of positive surprises to tip the scales upward, the Total Sale Proceeds comfortably found their way to the middle of the pre-sale estimate range.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 111
Aggregate Pre Sale Low Estimate $2618000
Aggregate Pre Sale High Estimate $3983000
Total Lots Sold 84
Total Lots Bought In 27
Buy In % 24.32%
Total Sale Proceeds $3321500

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 24
Total Low Lots Sold 19
Total Low Lots Bought In 5
Low Buy In % 20.83%
Aggregate High Estimate of Low Lots $174000
Total Proceeds from Low Lots $149375
Mid Total Lots 73
Total Mid Lots Sold 54
Total Mid Lots Bought In 19
Mid Buy In % 26.03%
Aggregate High Estimate of Mid Lots $1649000
Total Proceeds from Mid Lots $1204375
Total High Lots 14
Total High Lots Sold 11
Total High Lots Bought In 3
High Buy In % 21.43%
Aggregate High Estimate of High Lots $2160000
Total Proceeds from High Lots $1967750

The top lot by High estimate was lot 190, Peter Beard, Orphaned Cheetah Cubs, Mweiga, near Nyeri, Kenya, March 1968, 1968/2017, estimated at $300000-500000 (image in preview post); it was also the top outcome of the sale at $672500.

90.48% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Christie’s):

Lot 122, Horace Bristol, PBY Blister Gunner, Rescue at Rabaul, 1944/later, estimated at $7000-9000, sold at $30000

Lot 123, Robert Mapplethorpe, Lisa Lyon, 1981, estimated at $8000-12000, sold at $32500

Lot 173, Alfred Eisenstaedt, V-J Day, Times Square, 1945/1991, estimated at $8000-12000, sold at $27500

Lot 183, Tina Barney, The Graham Cracker Box, 1983, estimated at $8000-12000, sold at $27500

Lot 186, Hiroshi Sugimoto, North Atlantic Ocean, Cape Breton Island, 1996, estimated at $25000-35000, sold at $150000

The complete lot by lot results can be found here.

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Read more about: Alfred Eisenstaedt, Hiroshi Sugimoto, Horace Bristol, Robert Mapplethorpe, Tina Barney, Christie's

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