Auction Results: Photographs, October 2, 2013 @Sotheby’s

The various owner Photographs sale at Sotheby’s in New York last week generally followed the expected script: the Buy-In rate hovered near 25%, the top lot sold slightly above the range, and overall, the Total Sale Proceeds found their way to the soft end of the pre-sale estimate range. While there were plenty of surprises in this sale, I think we are seeing a mini-pattern this season of sharply rising prices for both early James Casebere and vintage Francesca Woodman prints.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 232
Aggregate Pre Sale Low Estimate $4530000
Aggregate Pre Sale High Estimate $6777000
Total Lots Sold 173
Total Lots Bought In 59
Buy In % 25.43%
Total Sale Proceeds $5041564

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 90
Total Low Lots Sold 71
Total Low Lots Bought In 19
Low Buy In % 21.11%
Aggregate High Estimate of Low Lots $722000
Total Proceeds from Low Lots $679064
Mid Total Lots 120
Total Mid Lots Sold 89
Total Mid Lots Bought In 31
Mid Buy In % 25.83%
Aggregate High Estimate of Mid Lots $2600000
Total Proceeds from Mid Lots $2153875
Total High Lots 22
Total High Lots Sold 14
Total High Lots Bought In 8
High Buy In % 36.36%
Aggregate High Estimate of High Lots $3455000
Total Proceeds from High Lots $2208625

The top lot by High estimate was lot 64, Alfred Stieglitz, Georgia O’Keeffe: A Portrait – Torso, 1918-1919, estimated at $300000-500000; it was also the top outcome of the sale at $557000.

89.02% of the lots that sold had proceeds in or above the estimate range, and there were a total of 17 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 10, Walker Evans, Painted and Posted Advertisements on Façade of River Front Coffee Shop, 1934, estimated at $7000-10000, sold at $22500

Lot 55, Alfred Stieglitz, John Marin, 1921-1922, estimated at $5000-7000, sold at $16250

Lot 69, Alfred Stieglitz, The Steerage, 1907/1911, estimated at $5000-7000, sold at $15000

Lot 77, Anonymous, Banjo and Fiddle Players, c1860s/1870s, estimated at $2000-3000, sold at $10000

Lot 80, Anonymous, Selected Post-Mortem Studies, 1840s, estimated at $3000-5000, sold at $10625

Lot 88, Edward Steichen, The Lexington Aircraft Carrier, 1943/1950s, estimated at $5000-7000, sold at $15000

Lot 126, Alfred Eisenstaedt, Headwaiter Rene Breguet Brings Apertifs to English Guests at the Skating Rink of the Grand Hotel, St. Moritz, 1932/before 1964, estimated at $5000-7000, sold at $20000

Lot 130, Nathan Lerner, Light Experiment, 1937/1938, estimated at $5000-7000, sold at $15000 (image above, middle, via Sotheby’s)

Lot 140, Josef Koudelka, Velka Lomnica (Gypsy Couple), 1966/1979, estimated at $7000-10000, sold at $20000

Lot 163, Duane Michals, The Most Beautiful Part of a Man’s Body, 1986, estimated at $7000-10000, sold at $20000

Lot 174, Irving Penn, Barnett Newman, 1966/1980, estimated at $7000-10000, sold at $28125

Lot 197, James Casebere, Asylum, 1994, estimated at $10000-15000, sold at $50000 (image above, right, via Sotheby’s)

Lot 198, James Casebere, Empty Room, 1994, estimated at $10000-15000, sold at $43750

Lot 201, Francesca Woodman, Untitled, Boulder, Colorado (Graveyard), 1972-1975, estimated at $10000-15000, sold at $46875

Lot 202,Francesca Woodman, From A Woman, A Mirror – A Woman is a Mirror for a Man, 1975-1978, estimated at $15000-25000, sold at $137000 (image above, left, via Sotheby’s)

Lot 230, Annie Leibovitz, John Lennon and Yoko Ono, 1980, estimated at $10000-15000, sold at $31250

Lot 231, Annie Leibovitz, Keith Haring, New York, 1986, estimated at $12000-18000, sold at $40625

Complete lot by lot results can be found here.

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Read more about: Francesca Woodman, James Casebere, Nathan Lerner, Sotheby's

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