Auction Results: Photographs, June 14, 2022 @Ader Nordmann

A selection of rare vintage works by László Moholy-Nagy (including one photomontage) propped up the results of the recent Photographs sale at Ader Nordmann in Paris last week. While the overall Buy-In rate for the sale hovered above 40%, the six higher priced works by Moholy-Nagy brought in roughly €380K. This turned out to be about half of the Total Sale Proceeds (of €760K), which topped the high end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 304
Aggregate Pre Sale Low Estimate €487100
Aggregate Pre Sale High Estimate €686100
Total Lots Sold 176
Total Lots Bought In 128
Buy In % 42.11%
Total Sale Proceeds €758809

Here is the breakdown (using our typical Low, Mid, and High definitions). Given recent currency fluctuations, we have once again re-adapted our local currency thresholds to match roughly $10000 and $50000 break points between categories.

Detailed Breakdown
Low Total Lots 296
Total Low Lots Sold 169
Total Low Lots Bought In 127
Low Buy In % 42.91%
Aggregate High Estimate of Low Lots $526100
Total Proceeds from Low Lots $359449
Mid Total Lots 8
Total Mid Lots Sold 7
Total Mid Lots Bought In 1
Mid Buy In % 12.50%
Aggregate High Estimate of Mid Lots €160000
Total Proceeds from Mid Lots €399360
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 126, László Moholy-Nagy, Transbordeur Bridge, Marseille, Old Port, 1928, estimated at €20000-30000; it sold at €66560. The top outcome of the sale was lot 127, László Moholy-Nagy, The gutter, Paris, 1925, estimated at €15000-20000, sold at €128000 (image above, via Ader Nordmann).

99.43% of the lots that sold had proceeds in or above the estimate range and there were a total of 23 positive surprises in the sale (defined as having proceeds of at least double the high estimate). The 13 positive surprises with outcomes above €3000 are listed below (images above, via Ader Nordmann):

Lot 27, Adrien Tournachon, Mariahof’s Cow, 1856, estimated at €1000-1500, sold at €6400

Lot 37, Studio Levitsky – Louis Pierson – Eugène Disdéri – Southwell Brothers – Studio Bingham – Franck – Bousseton & Appert – Saint-Edme – Pierre Petit – Charles Reutlinger and others, Album, c1860-1870, estimated at €500-700, sold at €4480

Lot 48, Adolphe Braun, Panorama of Mürren from the Allmendhubel, c1875-1880, estimated at €2000-3000, sold at €16640

Lot 50, Adolphe Braun, Interlaken, c1870-1880, estimated at €1000-1500, sold at €4096

Lot 88, Antoine Sevruguin, Persia, c1870-1890, estimated at €600-800, sold at €5376

Lot 99, Gaston Emerigon Fabre and others, Guadeloupe, Martinique, c1880, estimated at €1500-2000, sold at €4480

Lot 120, Eugène Atget, Cour du Dragon, Paris, 1922, estimated at €800-1200, sold at €3200

Lot 125, László Moholy-Nagy, From the Radio Tower, Berlin, 1928/before 1946, estimated at €15000-20000, sold at €83200

Lot 126, László Moholy-Nagy, Transbordeur Bridge, Marseille, Old Port, 1928, estimated at €20000-30000, sold at €66560

Lot 127, László Moholy-Nagy, The gutter, Paris, 1925, estimated at €15000-20000, sold at €128000

Lot 129, László Moholy-Nagy, Photomontage “Jealousy”, 1924, estimated at €15000-20000, sold at €53760

Lot 142, Pierre Boucher, Superposition, Female Nude and Horizon, 1936, estimated at €700-900, sold at €3840

Lot 289, Duane Michals, The young girl’s dream, 1969/c1980, estimated at €2000-3000, sold at €7040

Complete lot by lot results can be found here.

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Read more about: Adolphe Braun, Adrien Tournachon, Duane Michals, Eugène Atget, László Moholy-Nagy, Pierre Boucher, Ader Nordmann

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