Auction Results: Photographs Signature Auction, April 30, 2024 @Heritage

The results from the Photographs Signature Auction earlier this week at Heritage were generally soft. The top lot Ansel Adams print found a buyer within its estimate range, and although the overall Buy-In rate was a respectable 22%, far too many of the lots that did sell sold below their estimates. In the end, this dragged the Total Sale Proceeds (of roughly $655K) down 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 240
Aggregate Pre Sale Low Estimate $804000
Aggregate Pre Sale High Estimate $1233500
Total Lots Sold 186
Total Lots Bought In 54
Buy In % 22.50%
Total Sale Proceeds $658128

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

Detailed Breakdown
Low Total Lots 222
Total Low Lots Sold 173
Total Low Lots Bought In 49
Low Buy In % 22.07%
Aggregate High Estimate of Low Lots $840500
Total Proceeds from Low Lots $464128
Mid Total Lots 17
Total Mid Lots Sold 12
Total Mid Lots Bought In 5
Mid Buy In % 29.41%
Aggregate High Estimate of Mid Lots $333000
Total Proceeds from Mid Lots $151500
Total High Lots 1
Total High Lots Sold 1
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $60000
Total Proceeds from High Lots $42500

The top lot by High estimate was lot 73004, Ansel Adams, Oak Tree, Snowstorm, 1948/1973-1977, estimated at $40000-60000; it was also the top outcome of the sale at $42500 (image above, via Heritage.)

Only 38.71% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above, via Heritage):

Lot 73037, Julia Margaret Cameron, Prospero and Miranda (Henry Taylor and Mary Ryan), 1865, estimated at $1500-2500, sold at $9375

Lot 73042, Edward Sheriff Curtis, Kotsuis And Hohhuq – Nakoaktok (Plate 336 from The North American Indian), 1914, estimated at $1500-2500, sold at $5750

Lot 73047, Soichi Sunami, Martha Graham (5 works), c1928, estimated at $1500-2500, sold at $5000

Lot 73091, Bert Stern, Marilyn Monroe, Crucifix II (from the Last Sitting), 1962/2011, estimated at $1500-2500, sold at $5750

Lot 73096, Louise Dahl-Wolfe, Hollywood Nude, 1934/later, estimated at $1500-2500, sold at $5250

The complete lot by lot results can be found here.

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Read more about: Ansel Adams, Bert Stern, Edward Curtis, Julia Margaret Cameron, Louise Dahl-Wolfe, Soichi Sunami, Heritage Auctions

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