The results from Sotheby’s various owner Photographs sale in London last week were the definition of uneventful. The sale tallied up an overall Buy-In rate near 40%, a top lot that failed to sell, and no positive surprises, so it isn’t entirely surprising that the Total Sale Proceeds (just under £1M) fell well below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
|Pre Sale Low Total Estimate||£1342400|
|Pre Sale High Total Estimate||£1958600|
|Total Lots Sold||72|
|Total Lots Bought In||47|
|Buy In %||39.50%|
|Total Sale Proceeds||£966875|
Here is the breakdown (using our typical Low, Mid, and High definitions):
|Low Total Lots||31|
|Low Bought In||10|
|Low Buy In %||32.26%|
|Total Low Estimate||£127600|
|Total Low Sold||£78750|
|Mid Total Lots||70|
|Mid Bought In||28|
|Mid Buy In %||40.00%|
|Total Mid Estimate||£816000|
|Total Mid Sold||£463125|
|Total High Lots||18|
|High Bought In||9|
|High Buy In %||50.00%|
|Total High Estimate||£1015000|
|Total High Sold||£425000|
The top lot by High estimate was lot 100, Mario Testino, Kate at Mine, London, 2006, estimated at £70000-90000; it did not sell. The top outcome of the sale was tied between two lots: lot 73, Peter Beard, Loliondo Lion Charge, for The End of the Game/Last Word from Paradise, 1964/1990s, and lot 94, Peter Lindbergh, Estelle Lefebure, Karen Alexander, Rachel Williams, Linda Evangelista, Tatjana Patitz, Christy Turlington, 1988/2006, both estimated at £60000-80000 and both sold at £75000 (images above, via Sotheby’s).
100.00% of the lots that sold had proceeds in or above the estimate range, but there were no positive surprises in the sale.
The complete lot by lot results can be found here.