Auction Results: Photographs, October 3, 2018 @Sotheby’s

Vintage rarities helped buoy the results at Sotheby’s various owner Photographs sale in New York earlier this week. While the overall Buy-In rate was uncomfortably high (near 40%), prints from Rodchenko, Moholy-Nagy, Bragaglia, Peterhans, and others helped to fill in the gaps. When the tally was completed, the Total Sale Proceeds fell at the lower end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 129
Pre Sale Low Total Estimate $2423500
Pre Sale High Total Estimate $3703500
Total Lots Sold 78
Total Lots Bought In 51
Buy In % 39.53%
Total Sale Proceeds $2764875

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

Detailed Breakdown
Low Total Lots 48
Low Sold 29
Low Bought In 19
Low Buy In % 39.58%
Total Low Estimate $365500
Total Low Sold $250750
Mid Total Lots 69
Mid Sold 41
Mid Bought In 28
Mid Buy In % 40.58%
Total Mid Estimate $1678000
Total Mid Sold $973125
Total High Lots 12
High Sold 8
High Bought In 4
High Buy In % 33.33%
Total High Estimate $1660000
Total High Sold $1541000

The top lot by High estimate was lot 131, Aleksandr Rodchenko, Girl with a Leica (Devushka s Leikoi), 1932-1934, estimated at $300000-500000; it was also the top outcome of the sale at $519000 (image above via Sotheby’s).

80.77% of the lots that sold had proceeds in or above the estimate range and there were a total of 6 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 100, Heinrich Kühn, Untitled (Vase of Roses), 1915/1921, estimated at $6000-9000, sold at $20000

Lot 126, László Moholy-Nagy, Untitled (Photogram with circular shapes and diagonal line), c1923-1925, estimated at $120000-180000, sold at $447000

Lot 130, Anton Giulio Bragaglia and Arturo Bragaglia, Le Rose, 1913, estimated at $40000-60000, sold at $137500

Lot 134, Walter Peterhans, Portrait of E.F., 1929, estimated at $10000-15000, sold at $47500

Lot 149, O. Winston Link, Hot Shot Eastbound, Iaeger, West Virginia, 1957/1985, estimated at $5000-7000, sold at $15000

Lot 183, Herb Ritts, Christy Turlington, 1988, estimated at $15000-25000, sold at $50000

The complete lot by lot results can be found here.

Aleksandr Rodchenko, Anton Giulio Bragaglia, Heinrich Kühn, Herb Ritts, László Moholy-Nagy, O. Winston Link, Walter Peterhans, Sotheby's

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