The results from Christie’s recent various owner Photographs sale in New York were largely underwhelming. A Diane Arbus print led the way and found a buyer, but with only 2 positive surprises matched against a 33% Buy-In rate overall, the Total Sale Proceeds came in meaningfully under 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 | 180 |
| Aggregate Pre Sale Low Estimate | $3938000 |
| Aggregate Pre Sale High Estimate | $5995000 |
| Total Lots Sold | 120 |
| Total Lots Bought In | 60 |
| Buy In % | 33.33% |
| Total Sale Proceeds | $3297563 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 39 |
| Total Low Lots Sold | 28 |
| Total Low Lots Bought In | 11 |
| Low Buy In % | 28.21% |
| Aggregate High Estimate of Low Lots | $284000 |
| Total Proceeds from Low Lots | $119313 |
| Mid Total Lots | 124 |
| Total Mid Lots Sold | 82 |
| Total Mid Lots Bought In | 42 |
| Mid Buy In % | 33.87% |
| Aggregate High Estimate of Mid Lots | $2691000 |
| Total Proceeds from Mid Lots | $1389500 |
| Total High Lots | 17 |
| Total High Lots Sold | 10 |
| Total High Lots Bought In | 7 |
| High Buy In % | 41.18% |
| Aggregate High Estimate of High Lots | $3020000 |
| Total Proceeds from High Lots | $1788750 |
The top lot by High estimate was lot 242, Diane Arbus, Identical Twins, Roselle, NJ, 1966/1966-1969, estimated at $500000-700000; it was also the top outcome of the sale at $732500 (image above via Christie’s).
Only 63.33% of the lots that sold had proceeds in or above the estimate range and there were just 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Christie’s):
Lot 247, Daido Moriyama, National Highway 1 at Dawn, 1968, estimated at $6000-8000, sold at $16250
Lot 290, Irving Penn, Marchande de Ballons, Paris, 1950/1976, estimated at $10000-15000, sold at $57500
The complete lot by lot results can be found here.
