Auction Results: Photographs, October 5, 2017 @Sotheby’s

The various owner Photographs sale at Sotheby’s in New York last week bounced around to little consistent success. The sale began with a run of 53 daguerreotypes, of which only 20 found buyers, and things didn’t improve much from there. The overall Buy-In rate topped 45% and with only a handful of positive surprises to stem the tide, the Total Sale Proceeds fell meaningfully below the low end of the aggregate pre-sale estimate.

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

Summary Statistics
Total Lots 200
Aggregate Pre Sale Low Estimate $3639000
Aggregate Pre Sale High Estimate $5542000
Total Lots Sold 109
Total Lots Bought In 91
Buy In % 45.50%
Total Sale Proceeds $2901375

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

Detailed Breakdown
Low Total Lots 87
Total Low Lots Sold 48
Total Low Lots Bought In 39
Low Buy In % 44.83%
Aggregate High Estimate of Low Lots $666000
Total Proceeds from Low Lots $394675
Mid Total Lots 96
Total Mid Lots Sold 54
Total Mid Lots Bought In 42
Mid Buy In % 43.75%
Aggregate High Estimate of Mid Lots $2336000
Total Proceeds from Mid Lots $1182250
Total High Lots 17
Total High Lots Sold 7
Total High Lots Bought In 10
High Buy In % 58.82%
Aggregate High Estimate of High Lots $2540000
Total Proceeds from High Lots $1324750

The top lot by High estimate was lot 189, Robert Frank, Charleston, S.C., 1955/1967-1968, estimated at $300000-500000; it was sold at $348500. The top outcome of the sale was lot 147, Philip Haas, John Quincy Adams, 1843, estimated at $150000-250000, sold at $360500 (both images in preview post).

77.98% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 21, Anonymous English Photographer, The English Daguerreotypist with a French Quarter-Plate Camera, late 1840s or early 1850s,  estimated at $7000-10000, sold at $21250

Lot 104, Imogen Cunningham, Unmade Bed, 1957/later, estimated at $6000-9000, sold at $27500

Lot 112, Ansel Adams, Moonrise, Hernandez, NM, 1941/1978, estimated at $25000-35000, sold at $81250

Lot 156, Berenice Abbott, Barclay Street, Hoboken Ferry, 1931, estimated at $5000-7000, sold at $16250

Lot 167, Régis Bossu, Kisses from Berlin, 1979, estimated at $5000-7000, sold at $18750

The complete lot by lot results can be found here.

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Read more about: Ansel Adams, Berenice Abbott, Imogen Cunningham, Régis Bossu, Sotheby's

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Francesca Woodman @Gagosian

Francesca Woodman @Gagosian

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