A relatively modest sale of photographs at Bonhams got the fall auction season underway, with similarly modest results. The top lot Doug and Mike Starn work found a buyer, only to be topped by an Ansel Adams Moonrise. When the online timers had all expired, the Total Sale Proceeds (of roughly $360K) came in just below 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 | 156 |
| Aggregate Pre Sale Low Estimate | $389800 |
| Aggregate Pre Sale High Estimate | $609600 |
| Total Lots Sold | 118 |
| Total Lots Bought In | 38 |
| Buy In % | 24.36% |
| Total Sale Proceeds | $360410 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 145 |
| Total Low Lots Sold | 112 |
| Total Low Lots Bought In | 33 |
| Low Buy In % | 22.76% |
| Aggregate High Estimate of Low Lots | $335600 |
| Total Proceeds from Low Lots | $207450 |
| Mid Total Lots | 11 |
| Total Mid Lots Sold | 6 |
| Total Mid Lots Bought In | 5 |
| Mid Buy In % | 45.45% |
| Aggregate High Estimate of Mid Lots | $274000 |
| Total Proceeds from Mid Lots | $152960 |
| Total High Lots | 0 |
| Total High Lots Sold | NA |
| Total High Lots Bought In | NA |
| High Buy In % | NA |
| Aggregate High Estimate of High Lots | $0 |
| Total Proceeds from High Lots | $0 |
The top lot by High estimate was lot 131, Doug and Mike Starn, Untitled #7, from Structure of Thought, 2000/2001-2002, estimated at $30000-50000; it found a buyer at $35840, but it was not the top outcome of the sale. That honor went to lot 4, Ansel Adams, Moonrise, Hernandez, New Mexico, 1941/1973-1977, estimated at $25000-35000, sold at $38400 (image above, via Bonhams.)
63.56% of the lots that sold had proceeds in or above the estimate range and there were 6 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Bonhams):
Lot 51, Harold Edgerton, Action at the Rodeo, 1940/later, estimated at $600-800, sold at $3072
Lot 56, Walker Evans, Six Photographs including: Shadow Self-Portrait, Anna Maria Island, 1968, estimated at $800-1200, sold at $3072
Lot 57, Walker Evans, Eight Photographs including: Bedroom in Boarding House on Hudson Street, Residence of John Cheever, New York, 1931-1933, estimated at $800-1200, sold at $2560
Lot 58, Walker Evans, Eight Photographs including: Louisiana Factory and Houses, 1935, estimated at $800-1200, sold at $2816
Lot 59, Walker Evans, Congo Helmet Mask, 1935, estimated at $400-600, sold at $1408
Lot 87, Horst P. Horst, Study in Ivory, N.Y., 1982, estimated at $2000-4000, sold at $8320
The complete lot by lot results can be found here.
