The results of the recent Photographs sale at Doyle in New York didn’t make too many waves. The top lot Irving Penn nude found a buyer within its estimate range, but even with an overall Buy-In rate under 30% and a handful of positive surprises, the Total Sale Proceeds (of roughly $215K) fell 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 | 131 |
| Aggregate Pre Sale Low Estimate | $269150 |
| Aggregate Pre Sale High Estimate | $422850 |
| Total Lots Sold | 96 |
| Total Lots Bought In | 35 |
| Buy In % | 26.72% |
| Total Sale Proceeds | $216776 |
Here is the breakdown (using our typical Low, Mid, and High price range definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 124 |
| Total Low Lots Sold | 93 |
| Total Low Lots Bought In | 31 |
| Low Buy In % | 25.00% |
| Aggregate High Estimate of Low Lots | $308850 |
| Total Proceeds from Low Lots | $182126 |
| Mid Total Lots | 7 |
| Total Mid Lots Sold | 3 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 57.14% |
| Aggregate High Estimate of Mid Lots | $114000 |
| Total Proceeds from Mid Lots | $34650 |
| 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 600, Irving Penn, Nude No. 17, 1949-1950/1980s, estimated at $15000-25000; it was also the top outcome of the sale at $15120 (image above, via Doyle).
Only 62.50% of the lots that sold had proceeds in or above the estimate range and there were a total of 7 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Doyle):
Lot 505, [Felix Bonfils], Grande Sphinx et la Pyramide de Cheops, c1880s, estimated at $200-300, sold at $756
Lot 523, [Daguerreotype], Oval family portrait, after 1851, estimated at $400-600, sold at $1638
Lot 525, [Daguerreotype], Seven daguerreotypes of men, 1844-1850s, estimated at $400-600, sold at $1386
Lot 526, Francis Robert Griffith, Caves of Ellora, India, c1850-1860, estimated at $300-500, sold at $1008
Lot 582, Jacques-Henri Lartigue, Eight (of ten) gelatin silver prints, (1978), estimated at $400-600, sold at $1386
Lot 584, Annie Leibovitz, Laetitia Casta, Clifton Point, Rhinebeck, New York (Nude #6), 1999, estimated at $700-1000, sold at $9450
Lot 591, Sheila Metzner, Uma, Patou Dress, 1986, estimated at $800-1200, sold at $7560
The complete lot by lot results can be found here.
