Auction Results: Photographs, June 21, 2023 @Doyle

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.

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Read more about: Annie Leibovitz, Irving Penn, Jacques Henri Lartigue, Sheila Metzner, Doyle

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