Auction Results: Photographs, October 5, 2018 @Christie’s

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
Pre Sale Low Total Estimate $3938000
Pre Sale High Total 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
Low Sold 28
Low Bought In 11
Low Buy In % 28.21%
Total Low Estimate $284000
Total Low Sold $119313
Mid Total Lots 124
Mid Sold 82
Mid Bought In 42
Mid Buy In % 33.87%
Total Mid Estimate $2691000
Total Mid Sold $1389500
Total High Lots 17
High Sold 10
High Bought In 7
High Buy In % 41.18%
Total High Estimate $3020000
Total High Sold $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.

Read more about: Daido Moriyama, Diane Arbus, Irving Penn, Christie's

Leave a comment

Your email address will not be published.

Recent Articles

Helen Levitt, Five Decades @Laurence Miller

Helen Levitt, Five Decades @Laurence Miller

JTF (just the facts): A total of 64 black and white and color photographs, variously framed and matted, and hung against white walls in the two main gallery spaces and ... Read on.

Sign up for our weekly email newsletter