As expected, the results of the recent single owner Robert Frank sale at Sotheby’s last week were consistently strong. A low Buy-In rate (just over 10%) was paired with a decent number of positive surprises (7), ensuring that the Total Sale Proceeds would flirt with the top end of the pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 77 |
| Aggregate Pre Sale Low Estimate | $2495000 |
| Aggregate Pre Sale High Estimate | $3761000 |
| Total Lots Sold | 69 |
| Total Lots Bought In | 8 |
| Buy In % | 10.39% |
| Total Sale Proceeds | $3739375 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 7 |
| Total Low Lots Sold | 6 |
| Total Low Lots Bought In | 1 |
| Low Buy In % | 14.29% |
| Aggregate High Estimate of Low Lots | $55000 |
| Total Proceeds from Low Lots | $55625 |
| Mid Total Lots | 52 |
| Total Mid Lots Sold | 47 |
| Total Mid Lots Bought In | 5 |
| Mid Buy In % | 9.62% |
| Aggregate High Estimate of Mid Lots | $1556000 |
| Total Proceeds from Mid Lots | $1755000 |
| Total High Lots | 18 |
| Total High Lots Sold | 16 |
| Total High Lots Bought In | 2 |
| High Buy In % | 11.11% |
| Aggregate High Estimate of High Lots | $2150000 |
| Total Proceeds from High Lots | $1928750 |
The top lot by High estimate was lot 10, Robert Frank, New Orleans (Trolley), 1955/late 1960s or early 1970s, estimated at $200000-300000; it sold for $237500. This lot was tied for the top outcome of the sale with lot 8, Robert Frank, Hoboken (Parade), 1955/later, estimated at $120000-180000, also sold at $237500. (image in preview post)
94.20% of the lots that sold had proceeds in or above the estimate range and there were a total of 7 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 7, Robert Frank, Candy Store, Upper West Side, NYC, 1955/c1970, estimated at $25000-35000, sold at $87500
Lot 9, Robert Frank, L.A. Ranch Market (Ranch Market- Hollywood), 1956/late 1960s or early 1970s, estimated at $20000-30000, sold at $62500
Lot 16, Robert Frank, Charleston, S.C., 1955/1970s, estimated at $60000-80000, sold at $162500
Lot 30, Robert Frank, Blackfoot, Idaho (US 91, Leaving Blackfoot, Idaho), 1956/c1970, estimated at $25000-35000, sold at $93750
Lot 61, Robert Frank, Public Park – Ann Arbor, Michigan, 1955/1960s, estimated at $20000-30000, sold at $68750
Lot 64, Robert Frank, NYC (Rodeo – New York City), 1955/later, estimated at $12000-18000, sold at $40000
Lot 75, Robert Frank, Indianapolis, 1956/1970s, estimated at $5000-7000, sold at $15000
The complete lot by lot results can be found here.
Deffo worth clicking on that Sotheby’s link at the end of LK’s round-up. No matter how many times you’ve seen the work and how sure you are that those old photographs can’t have much left in them to give, they have.