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):
|Aggregate Pre Sale Low Estimate||£1342400|
|Aggregate Pre Sale High 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|
|Total Low Lots Sold||21|
|Total Low Lots Bought In||10|
|Low Buy In %||32.26%|
|Aggregate High Estimate of Low Lots||£127600|
|Total Proceeds from Low Lots||£78750|
|Mid Total Lots||70|
|Total Mid Lots Sold||42|
|Total Mid Lots Bought In||28|
|Mid Buy In %||40.00%|
|Aggregate High Estimate of Mid Lots||£816000|
|Total Proceeds from Mid Lots||£463125|
|Total High Lots||18|
|Total High Lots Sold||9|
|Total High Lots Bought In||9|
|High Buy In %||50.00%|
|Aggregate High Estimate of High Lots||£1015000|
|Total Proceeds from High Lots||£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.