The results from the recent Civil War photographs sale at Christie’s were wide ranging, from lots that passed and sold under their estimate ranges to those that doubled or tripled their estimates. All of the lots on offer were being deaccessioned from the Metropolitan Museum of Art, and so the scholarship and provenance behind them was strong. The top lot in the sale was attributed to Timothy O’Sullivan and found a buyer at more than twice its high estimate, and the sale was dominated by prints from just a handful of photographers: O’Sullivan, Alexander Gardner, Mathew Brady, Andrew Russell, George Barnard, and a few others. With an overall Buy-In rate over 36% and more than 40% of the lots that sold doing so below their estimate ranges, there was softness in the demand, but a number of positive surprises worked to offset that downward push, bringing the Total Sale Proceeds in at roughly $250K, 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 | 168 |
| Aggregate Pre Sale Low Estimate | $215000 |
| Aggregate Pre Sale High Estimate | $372500 |
| Total Lots Sold | 107 |
| Total Lots Bought In | 61 |
| Buy In % | 36.31% |
| Total Sale Proceeds | $257625 |
Since all the lots on offer in this sale fell in the lowest price tier, we will forego our usual statistical analysis of results by price tier.
The top lot by High estimate was lot 16, attributed to Timothy O’Sullivan, The “Mine”, Petersburg, Virginia, 1864, estimated at $4000-6000; it was also the top outcome of the sale at $15000 (image above, via Christie’s.)
Only 57.94% of the lots that sold had proceeds in or above the estimate range, but there were a total of 19 positive surprises in the sale (defined as having proceeds of at least double the high estimate.) The 10 surprises with outcomes above $5000 are listed below (images above, via Christie’s):
Lot 2, possibly by George Barnard, [View of a Soldier Watering his Horse] Bull Run, Blackburn’s Ford, Virginia, c. 1861-1862, estimated at $1000-2000, sold at $7500
Lot 5, Egbert Guy Fowx, Pontoon Bridge on James River, Deep Bottom, Virginia, 1864-1865, estimated at $1000-2000, sold at $5250
Lot 8, possibly by Timothy O’Sullivan, Distant View of Landing, Belle Plain, Virginia, 1864, estimated at $1000-2000, sold at $7500
Lot 16, attributed to Timothy O’Sullivan, The “Mine”, Petersburg, Virginia, 1864, estimated at $4000-6000, sold at $15000
Lot 20, formerly attributed to Mathew B. Brady, Convalescent Camp near Alexandria, Virginia, 1861-1865, estimated at $2000-3000, sold at $10625
Lot 24, formerly attributed to Mathew B. Brady, Battlefield of Gettysburg, Pennsylvania [Scene of General Reynold’s Death, The Eastern Edge of McPherson’s Woods, view looking towards Seminary Ridge], July 1863, estimated at $2000-3000, sold at $10000
Lot 45, attributed to Timothy O’Sullivan, Orange and Alexandria Railroad Bridge Across, Bull Run, Virginia, 1862, estimated at $1500-2500, sold at $6875
Lot 54, attributed to Timothy O’Sullivan, Barges and Steamers, White House Landing, Pamunkey River, Virginia, 1861-1865, estimated at $1500-2500, sold at $5625
Lot 138, Alexander Gardner, Northeast Suburbs of Richmond, Virginia, April 1865, estimated at $2000-3000, sold at $6000
Lot 139, Alexander Gardner, Ruins of the Arsenal, Richmond, Virginia, after Evacuations, 1865, estimated at $2000-3000, sold at $6250
The complete lot by lot results can be found here.
