Auction Results: Photographs (online), April 13, 2023 @Christie’s

A bit of softness in the top price tier was just enough to dampen the results of the Photographs sale at Christie’s last week. The overall Buy-In rate for the sale was a respectable 20% and there were plenty of positive surprises sprinkled throughout the sale, but a few passes in those pricier lots kept the Total Sale Proceeds tally (of roughly $2M) from picking up speed, ending up just above 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 107
Aggregate Pre Sale Low Estimate $2027500
Aggregate Pre Sale High Estimate $3006000
Total Lots Sold 85
Total Lots Bought In 22
Buy In % 20.56%
Total Sale Proceeds $2044854

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

Detailed Breakdown
Low Total Lots 39
Total Low Lots Sold 34
Total Low Lots Bought In 5
Low Buy In % 12.82%
Aggregate High Estimate of Low Lots $239000
Total Proceeds from Low Lots $270774
Mid Total Lots 53
Total Mid Lots Sold 44
Total Mid Lots Bought In 9
Mid Buy In % 16.98%
Aggregate High Estimate of Mid Lots $1227000
Total Proceeds from Mid Lots $1082340
Total High Lots 15
Total High Lots Sold 7
Total High Lots Bought In 8
High Buy In % 53.33%
Aggregate High Estimate of High Lots $1540000
Total Proceeds from High Lots $691740

The top lot by High estimate was lot 10, Paul Strand, The Family, Luzzara, Italy, 1953/late 1950s, estimated at $150000-250000; it sold at $151200. The top outcome of the sale was lot 37, Ansel Adams, Mt. Moran and Jackson Lake from Signal Hill, Grand Teton National Park, Wyoming, c1941/mid 1950s, estimated at $100000-200000, sold at $214200 (image above, via Christie’s.)

84.71% of the lots that sold had proceeds in or above the estimate range and there were a total of 11 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):

Lot 6, Paul Strand, New York (Sidewalks), 1916, estimated at $1000-2000, sold at $5670

Lot 12, George Hoyningen-Huene, Divers, Paris 1930/later, estimated at $6000-8000, sold at $22680

Lot 24, Helen Levitt, New York, 1940/1975, estimated at $5000-7000, sold at $20160

Lot 26, Henri Cartier-Bresson, Rue Mouffetard, Paris, 1954/later, estimated at $15000-25000, sold at $50400

Lot 53, Sally Mann, Jessie in the Wind, 1989, estimated at $20000-30000, sold at $69300

Lot 65, Richard Avedon, Marlene Dietrich, Turban by Dior The Ritz Paris, 1955/1978, estimated at $10000-15000, sold at $40320

Lot 67, Herb Ritts, Female Torso with Veil, Paradise Cove, California, 1984, estimated at $12000-15000, sold at $37800

Lot 68, Helmut Newton, Charlotte Rampling, Arles, 1973, estimated at $25000-35000, sold at $75600

Lot 70, Robert Mapplethorpe, Stella Goodall, 1984, estimated at $10000-15000, sold at $44100

Lot 72, Robert Mapplethorpe, Invitation to Light Gallery opening, January 6, 1973, 1973, estimated at $5000-7000, sold at $17640

Lot 83, William Wegman, Lolita, 1990, estimated at $4000-6000, sold at $35280

The complete lot by lot results can be found here.

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Read more about: Ansel Adams, George Hoyningen-Huene, Helen Levitt, Helmut Newton, Henri Cartier-Bresson, Herb Ritts, Paul Strand, Richard Avedon, Robert Mapplethorpe, Sally Mann, William Wegman, Christie's

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