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
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.

Send this article to a friend

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

Leave a comment

Your email address will not be published.

Recent Articles

An-My Lê, On Contested Terrain

An-My Lê, On Contested Terrain

JTF (just the facts): Published in 2020 by Aperture (here), in conjunction with the Carnegie Museum of Art (here), where an exhibition is on view between March 14, 2020 and ... Read on.

Sign up for our weekly email newsletter