A high priced Helmut Newton mural-sized diptych failed to sell at Sotheby’s two-part Photographs auction last week, thoroughly upending the overall statistical tally. Aside from that lot, the sale performed decently, with an overall Buy-In rate under 25% (with 2 withdrawals) and more than a handful of positive surprises. But with the top lot pass included, the Total Sale Proceeds (of roughly $3.06M) came in well 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 | 133 |
| Aggregate Pre Sale Low Estimate | $4073500 |
| Aggregate Pre Sale High Estimate | $6133500 |
| Total Lots Sold | 100 |
| Total Lots Bought In | 33 |
| Buy In % | 24.81% |
| Total Sale Proceeds | $3061632 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 43 |
| Total Low Lots Sold | 39 |
| Total Low Lots Bought In | 4 |
| Low Buy In % | 9.30% |
| Aggregate High Estimate of Low Lots | $305500 |
| Total Proceeds from Low Lots | $260352 |
| Mid Total Lots | 69 |
| Total Mid Lots Sold | 47 |
| Total Mid Lots Bought In | 22 |
| Mid Buy In % | 31.88% |
| Aggregate High Estimate of Mid Lots | $1558000 |
| Total Proceeds from Mid Lots | $1092480 |
| Total High Lots | 21 |
| Total High Lots Sold | 14 |
| Total High Lots Bought In | 7 |
| High Buy In % | 33.33% |
| Aggregate High Estimate of High Lots | $4270000 |
| Total Proceeds from High Lots | $1708800 |
The top lot by High estimate was lot 32, Helmut Newton, Sie Kommen, Paris (Dressed and Naked), 1981, estimated at $1200000-1800000; it did not sell. The top outcome of the sales was lot 16, Tina Modotti, Roses, Mexico, 1924, estimated at $250000-350000, sold at $409600 (image above via Sotheby’s).
83.00% of the lots that sold had proceeds in or above the estimate range, and there were a total of 8 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 14, Eugène Atget, Un coin Rue de la Montagne Sainte-Geneviève [Pantheon], 1924, estimated at $15000-25000, sold at $51200
Lot 15, Eugène Atget, Le Quais, au Pont Neuf, 1923, estimated at $8000-12000, sold at $32000
Lot 155, Thurman Rotan, New York Skyline from Central Park at Night, 1928/no later than 1941, estimated at $1000-1500, sold at $7040
Lot 157, Kenro Izu, Still Life #9, 18, and 29 (3 photographs), 1985, estimated at $1500-2500, sold at $6400
Lot 168, Robert Mapplethorpe, Gardenia, 1978, estimated at $5000-7000, sold at $14080
Lot 187, Rosalind Fox Solomon, Selected Images (2 photographs), 1975, estimated at $1000-2000, sold at $5120
Lot 194, Maria Friberg, Still Lives #3, 2004, estimated at $8000-12000, sold at $24320
Lot 204, Peter Beard, I’ll Write Whenever I Can, 1965/later, estimated at $12000-18000, sold at $38400
The complete lot by lot results can be found here (Part I) and here (Part II).
