The results from the Photographs sale at Christie’s last week were altogether solid. The top lot Ansel Adams print sold in its range, and was accompanied by more than a dozen positive surprises. The overall Buy-In rate came in under 17%, leading to Total Sale Proceeds (of roughly $3.6M) that came in above 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 | 209 |
| Aggregate Pre Sale Low Estimate | $3121500 |
| Aggregate Pre Sale High Estimate | $4645800 |
| Total Lots Sold | 174 |
| Total Lots Bought In | 35 |
| Buy In % | 16.75% |
| Total Sale Proceeds | $3591814 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 104 |
| Total Low Lots Sold | 91 |
| Total Low Lots Bought In | 13 |
| Low Buy In % | 12.50% |
| Aggregate High Estimate of Low Lots | $641800 |
| Total Proceeds from Low Lots | $583946 |
| Mid Total Lots | 86 |
| Total Mid Lots Sold | 68 |
| Total Mid Lots Bought In | 18 |
| Mid Buy In % | 20.93% |
| Aggregate High Estimate of Mid Lots | $1944000 |
| Total Proceeds from Mid Lots | $1530858 |
| Total High Lots | 19 |
| Total High Lots Sold | 15 |
| Total High Lots Bought In | 4 |
| High Buy In % | 21.05% |
| Aggregate High Estimate of High Lots | $2060000 |
| Total Proceeds from High Lots | $1477010 |
The top lot by High estimate was lot 47, Ansel Adams, Aspens, Northern New Mexico, 1958/c1968, estimated at $300000-500000; it was also the top outcome of the sale at $330200 (image above, via Christie’s.)
71.26% of the lots that sold had proceeds in or above the estimate range and there were a total of 13 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):
Lot 24, Gordon Parks, American Gothic, Washington D.C., 1942/later, estimated at $7000-9000, sold at $38100
Lot 28, Henri Cartier-Bresson, Ile de la Cité, Paris, France, 1951/later, estimated at $8000-12000, sold at $35560
Lot 105, Francesca Woodman, Charlie the Model #5, Providence, Rhode Island, 1976-77, estimated at $6000-8000, sold at $35560
Lot 136, Nan Goldin, David H. in the Shower, Lausanne, 1998, estimated at $5000-7000, sold at $24130
Lot 149, Abelardo Morell, Light Bulb, 1991, estimated at $5000-7000, sold at $19050
Lot 161, Hiroshi Sugimoto, North Pacific Ocean, Iwate, 1986, estimated at $20000-30000, sold at $76200
Lot 175, Nick Brandt, Cheetah & Cubs, Maasai Mara, 2003, estimated at $18000-22000, sold at $53340
Lot 179, Eadweard Muybridge, Animal Locomotion, Plate 408, 1887, estimated at $500-700, sold at $3302
Lot 182, Eadweard Muybridge, Animal Locomotion, Plate 744, 1887, estimated at $500-700, sold at $5715
Lot 189, Unknown photographer, First American Chess Prodigy Paul Morphy Playing Chess, c.1857, estimated at $10000-15000, sold at $60960
Lot 201, Unknown photographer, Man with Telescope and Illustration of a Whaling Ship, c. 1850, estimated at $1000-1500, sold at $5334
Lot 208, J.C. Moulton, Two Carpenters with Tools, 1857, estimated at $500-700, sold at $3302
Lot 210, Unknown photographer, Photographer with Robert’s-Style Half-Plate Daguerreotype Camera, c. 1858, estimated at $500-700, sold at $9525
The complete lot by lot results can be found here.
