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.
