While Heritage was able to keep the overall Buy-In rate under 20% in its recent photographs sale, the prices achieved were on the soft side, with more than 55% of the lots that sold finding buyers below the pre-sale estimate range. As such, there were bargains to be had, and the Total Sale Proceeds fell below the aggregate target.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 185 |
| Aggregate Pre Sale Low Estimate | $556600 |
| Aggregate Pre Sale High Estimate | $891200 |
| Total Lots Sold | 152 |
| Total Lots Bought In | 33 |
| Buy In % | 17.84% |
| Total Sale Proceeds | $461116 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 169 |
| Total Low Lots Sold | 140 |
| Total Low Lots Bought In | 29 |
| Low Buy In % | 17.16% |
| Aggregate High Estimate of Low Lots | $607200 |
| Total Proceeds from Low Lots | $355492 |
| Mid Total Lots | 16 |
| Total Mid Lots Sold | 12 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 25.00% |
| Aggregate High Estimate of Mid Lots | $284000 |
| Total Proceeds from Mid Lots | $105624 |
| 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 | NA |
The top lot by High estimate was lot 74057, Irving Penn, Snow White and the Seven Dwarfs for Vogue, 1946, estimated at $25000-40000; it did not sell. The top outcome of the sale was lot 74164, Helmut Newton, Shoe, Monte Carlo, 1983/later, estimated at $6000-8000, sold at $18750 (image above, left, via Heritage.)
A slim 44.74% of the lots that sold had proceeds in or above the estimate range, and there were a total of 4 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 74053, Tom Kelley, Marilyn Monroe, Pose #2, 1949/1990, estimated at $1000-2000,sold at $6250 (image above, middle, via Heritage)
Lot 74125, Christopher Burkett, Morning Storm, Oregon, 1981/2001, estimated at $600-800, sold at $2125
Lot 74145, Roman Loranc, Absolution, 2004, estimated at $400-600, sold at $2000 (image above, right, via Heritage)
Lot 74164, Helmut Newton, Shoe, Monte Carlo, 1983/later, estimated at $6000-8000, sold at $18750
Complete lot by lot results can be found here.
