A MoMA permanent collection provenance is usually catnip for collectors, and while all the photographs on offer in this modest deaccessioning sale found buyers (making the overall Buy-In rate a neat 0.00%), the actual prices paid were remarkably weak. More than 70% of the lots sold below their estimate ranges, and with just one positive surprise (a familiar Harry Callahan silhouetted portrait of his wife Eleanor), the Total Sale Proceeds for photography (of roughly $310K) fell 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 | 45 |
| Aggregate Pre Sale Low Estimate | $368000 |
| Aggregate Pre Sale High Estimate | $554000 |
| Total Lots Sold | 45 |
| Total Lots Bought In | 0 |
| Buy In % | 0.00% |
| Total Sale Proceeds | $312166 |
Here is the breakdown (using our usual Low, Mid, and High price tier definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 30 |
| Total Low Lots Sold | 30 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $226000 |
| Total Proceeds from Low Lots | $138176 |
| Mid Total Lots | 14 |
| Total Mid Lots Sold | 14 |
| Total Mid Lots Bought In | 0 |
| Mid Buy In % | 0.00% |
| Aggregate High Estimate of Mid Lots | $268000 |
| Total Proceeds from Mid Lots | $133350 |
| Total High Lots | 1 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 0 |
| High Buy In % | 0.00% |
| Aggregate High Estimate of High Lots | $60000 |
| Total Proceeds from High Lots | $40640 |
The top photography lot by High estimate was lot 19, Dorothea Lange, Migrant Mother, Nipomo, California, 1936/1955, estimated at $40000-60000; it was also the top photography outcome of the sale at $40640 (image above, via Sotheby’s.)
Just 28.89% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive photographic surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Sotheby’s):
Lot 26, Harry Callahan, Eleanor, 1948/1950s, estimated at $6000-9000, sold at $25400
The complete lot by lot results can be found here.
