Auction Results: Photographs Signature Auction, October 17, 2023 @Heritage

The results from the Photographs Signature Auction last week at Heritage were generally uneventful. The top lot Robert Mapplethorpe flower print found a buyer below its estimate range, and was tied for the top lot honors with an Ansel Adams moonrise. The overall Buy-In rate inched up near 35%, and with just 1 positive surprise and too many of the lots that did sell doing so below their estimates, the Total Sale Proceeds (of roughly $825K) came in 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 345
Aggregate Pre Sale Low Estimate $1168800
Aggregate Pre Sale High Estimate $1803700
Total Lots Sold 225
Total Lots Bought In 120
Buy In % 34.78%
Total Sale Proceeds $824155

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

Detailed Breakdown
Low Total Lots 324
Total Low Lots Sold 209
Total Low Lots Bought In 115
Low Buy In % 35.49%
Aggregate High Estimate of Low Lots $1146700
Total Proceeds from Low Lots $532593
Mid Total Lots 18
Total Mid Lots Sold 14
Total Mid Lots Bought In 4
Mid Buy In % 22.22%
Aggregate High Estimate of Mid Lots $447000
Total Proceeds from Mid Lots $197813
Total High Lots 3
Total High Lots Sold 2
Total High Lots Bought In 1
High Buy In % 33.33%
Aggregate High Estimate of High Lots $210000
Total Proceeds from High Lots $93750

The top lot by High estimate was lot 73347, Robert Mapplethorpe, Calla Lily, 1988, estimated at $60000-80000; it was also the top outcome of the sale at $50000, tied with lot 73028, Ansel Adams, Moonrise, Hernandez, New Mexico, 1941/1973-1977, estimated at $30000-50000, also sold at $50000 (images above, via Heritage.)

Only 36.89% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Heritage):

Lot 73088, Edward Curtis, An Oasis in the Badlands, 1909/2003, estimated at $2000-3000, sold at $10000

The complete lot by lot results can be found here.

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Read more about: Ansel Adams, Edward Curtis, Robert Mapplethorpe, Heritage Auctions

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