Auction Results: Pier 24 Photography from the Pilara Family Foundation Day Sale, May 2, 2023 @Sotheby’s

The day sale portion of the recent Pier 24 Photography sale at Sotheby’s continued the positive momentum that began the night before (results here). Once again, the overall Buy-In rate was tiny (just 3%, plus 4 withdrawals) and there were even more positive surprises (16 during the day) to keep the mood high. The top lot Richard Avedon print found a buyer above its estimate range, and other prints by Avedon did similarly well. In the end, the Total Sale Proceeds (of roughly $3.5M) cleared the top end of the aggregate pre-sale estimate range with room to spare.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 128
Aggregate Pre Sale Low Estimate $1874000
Aggregate Pre Sale High Estimate $2899000
Total Lots Sold 124
Total Lots Bought In 4
Buy In % 3.13%
Total Sale Proceeds $3513074

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

Detailed Breakdown
Low Total Lots 49
Total Low Lots Sold 46
Total Low Lots Bought In 3
Low Buy In % 6.12%
Aggregate High Estimate of Low Lots $370000
Total Proceeds from Low Lots $515239
Mid Total Lots 74
Total Mid Lots Sold 73
Total Mid Lots Bought In 1
Mid Buy In % 1.35%
Aggregate High Estimate of Mid Lots $1759000
Total Proceeds from Mid Lots $1920875
Total High Lots 5
Total High Lots Sold 5
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $770000
Total Proceeds from High Lots $1076960

The top lot by High estimate was lot 102, Richard Avedon, Clarence Lippard, Drifter, Interstate 80, Sparks, Nevada, 29 August 1983, 1983/1985, estimated at $200000-300000; it was also the top outcome of the sale at $444500 (image above via Sotheby’s).

73.39% of the lots that sold had proceeds in or above the estimate range and there were a total of 16 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):

Lot 100, Richard Avedon, Bob Dylan, Singer, New York, New York, February 10, 1965, 1965, estimated at $30000-50000, sold at $165100

Lot 103, Katy Grannan, Anonymous, Los Angeles, 2009/2010, estimated at $7000-10000, sold at $20320

Lot 130, Stephen Shore, Yosemite National Park, CA (Merced River), 1979, estimated at $7000-10000, sold at $30480

Lot 131, Stephen Shore, U.S. Route 10, Post Falls, Idaho, 1974, estimated at $15000-25000, sold at $53340

Lot 135, Stephen Shore, Ginger Shore, Causeway Inn, Tampa, Florida, 1977/later, estimated at $6000-9000, sold at $30480

Lot 137, Lee Friedlander, Newark, 1962, estimated at $15000-25000, sold at $57150

Lot 142, Bruce Davidson, Untitled (from Brooklyn Gang), 1959, estimated at $7000-10000, sold at $30480

Lot 148, Edward Burtynsky, AMARC #5, Davis Monthan AFB, Tucson Arizona, 2006, estimated at $10000-15000, sold at $33020

Lot 162, Philip-Lorca diCorcia, William Charles Everlove, 26 years old, Stockholm via Arizona, $40, 1992, estimated at $5000-7000, sold at $24500

Lot 188, LaToya Ruby Frazier, Home on Sixth Street & Washington Avenue, 2009, estimated at $7000-10000, sold at $21590

Lot 203, Bernd and Hilla Becher, Water Tower, Essen-Byfang, D, 1980, estimated at $10000-15000, sold at $35560

Lot 216, Lisette Model, Fashion Show, NYC, Hotel Pierre, 1940-1946, estimated at $10000-15000, sold at $30480

Lot 219, Richard Avedon, Francis Bacon, Painter, Paris, France, April 11, 1979, 1979, estimated at $30000-50000, sold at $152400

Lot 221, Masahisa Fukase, Seikan Ferry Boat, 1976, estimated at $6000-9000, sold at $27940

Lot 224, Nobuyoshi Araki, Selected Images, 1973, estimated at $5000-7000, sold at $24500

Lot 231, Richard Avedon, Joe Louis, Prize Fighter, New York City, October 3, 1963, 1963/1964, estimated at $10000-15000, sold at $82550

The complete lot by lot results can be found here.

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Read more about: Bernd and Hilla Becher, Bruce Davidson, Edward Burtynsky, Katy Grannan, LaToya Ruby Frazier, Lee Friedlander, Lisette Model, Masahisa Fukase, Nobuyoshi Araki, Philip-Lorca diCorcia, Richard Avedon, Stephen Shore, Sotheby's

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