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.
