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.
