The photography results from the recent Post-War to Present and First Open sales at Christie’s were generally solid. The top photo lot Diane Arbus print found a buyer just above its estimate range, and the rest of the included photography performed decently well, albeit with an overall Buy-In rate for photography that crept up to 33% and two withdrawals. With a couple of positive surprises, the Total Sale Proceeds for photography (of just under $1.5M) came in 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 | 36 |
| Aggregate Pre Sale Low Estimate | $1347500 |
| Aggregate Pre Sale High Estimate | $2017000 |
| Total Lots Sold | 24 |
| Total Lots Bought In | 12 |
| Buy In % | 33.33% |
| Total Sale Proceeds | $1475994 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 9 |
| Total Low Lots Sold | 6 |
| Total Low Lots Bought In | 3 |
| Low Buy In % | 33.33% |
| Aggregate High Estimate of Low Lots | $69000 |
| Total Proceeds from Low Lots | $42545 |
| Mid Total Lots | 15 |
| Total Mid Lots Sold | 8 |
| Total Mid Lots Bought In | 7 |
| Mid Buy In % | 46.67% |
| Aggregate High Estimate of Mid Lots | $458000 |
| Total Proceeds from Mid Lots | $254889 |
| Total High Lots | 12 |
| Total High Lots Sold | 10 |
| Total High Lots Bought In | 2 |
| High Buy In % | 16.67% |
| Aggregate High Estimate of High Lots | $1490000 |
| Total Proceeds from High Lots | $1178560 |
The top photography lot by High estimate was lot 128, Diane Arbus, Boy with a straw hat waiting to march in a pro-war parade, NYC, 1967, estimated at $150000-250000; it was also the top photography outcome of the sale at $254000 (image above, via Christie’s).
66.67% of the lots that sold had proceeds in or above the estimate range and there were 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate)(images above, via Christie’s):
Lot 117, Gerhard Richter, Ravine, 1997, estimated at $10000-15000, sold at $30480
Lot 359, Richard Prince, Untitled (Cowboy), 1992, estimated at $12000-18000, sold at $82550
The complete lot by lot results can be found here (Post-War to Present) and here (First Open).
