Auction Results: Photographs, October 4, 2021 @Bonhams

The results from the Photographs sale at Bonhams in New York earlier this week were generally lackluster. Particular weakness plagued the higher price tiers, and the overall Buy-In rate came in over 42%. With just one positive surprise to pick up the slack, the Total Sale Proceeds (of roughly $470K) fell well 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 110
Aggregate Pre Sale Low Estimate $690700
Aggregate Pre Sale High Estimate $1020400
Total Lots Sold 63
Total Lots Bought In 47
Buy In % 42.73%
Total Sale Proceeds $469616

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

Detailed Breakdown
Low Total Lots 84
Total Low Lots Sold 54
Total Low Lots Bought In 30
Low Buy In % 35.71%
Aggregate High Estimate of Low Lots $385400
Total Proceeds from Low Lots $255244
Mid Total Lots 23
Total Mid Lots Sold 8
Total Mid Lots Bought In 15
Mid Buy In % 65.22%
Aggregate High Estimate of Mid Lots $445000
Total Proceeds from Mid Lots $166560
Total High Lots 3
Total High Lots Sold 1
Total High Lots Bought In 2
High Buy In % 66.67%
Aggregate High Estimate of High Lots $190000
Total Proceeds from High Lots $47812

The top lot by High estimate was lot 34, Brian Duffy, David Bowie, “Aladdin Sane” (Eyes Open), 1973/2015, estimated at $50000-70000; it sold at $47812. The top outcome of the sale was lot 16 Ansel Adams, Winter Sunrise, Sierra Nevada from Lone Pine, California, 1944/1980, estimated at $30000-50000, sold at $50312  (image above, via Bonhams.)

80.85% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Bonhams):

Lot 74, Andreas Feininger, Lunch Rush on Fifth Avenue, New York, 1950/later, estimated at $2500-3500, sold at $7006

The complete lot by lot results can be found here.

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Read more about: Andreas Feininger, Ansel Adams, Bonhams

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