Auction Results: Photographs, October 11, 2022 @Bonhams

While a Rodney Graham print jumped to more than 3X its high estimate, that one bright spot wasn’t enough to fight back the tide of passes that diminished the results of the Photographs sale at Bonhams in New York earlier this week. A number of Paul Strand prints failed to find buyers, and with an overall Buy-In rate over 55%, the Total Sale Proceeds (of roughly $340K) fell far 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 88
Aggregate Pre Sale Low Estimate $803500
Aggregate Pre Sale High Estimate $1112000
Total Lots Sold 38
Total Lots Bought In 50
Buy In % 56.82%
Total Sale Proceeds $341858

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 55
Total Low Lots Sold 30
Total Low Lots Bought In 25
Low Buy In % 45.45%
Aggregate High Estimate of Low Lots $344000
Total Proceeds from Low Lots $160395
Mid Total Lots 31
Total Mid Lots Sold 8
Total Mid Lots Bought In 23
Mid Buy In % 74.19%
Aggregate High Estimate of Mid Lots $638000
Total Proceeds from Mid Lots $181463
Total High Lots 2
Total High Lots Sold 0
Total High Lots Bought In 2
High Buy In % 100.00%
Aggregate High Estimate of High Lots $130000
Total Proceeds from High Lots $0

The top lot by High estimate was lot 28, Paul Strand, Central Park, New York, 1915, estimated at $50000-70000; it did not sell. The top outcome of the sale was lot 65, Rodney Graham, Typewriter with Flour, 2003, estimated at $12000-15000, sold at $46995 (image above, via Bonhams.)

81.58% of the lots that sold had proceeds in or above the estimate range and there were 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (image above, via Bonhams):

Lot 36, Weegee, Group of 4 Marilyn Monroe Photographs, 1950, estimated at $4000-6000, sold at $22950

Lot 65, Rodney Graham, Typewriter with Flour, 2003, estimated at $12000-15000, sold at $46995

The complete lot by lot results can be found here.

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Read more about: Rodney Graham, Weegee (Arthur Felig), Bonhams

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