Given the historical resonance between our current moment and the post-Great Depression efforts to restart the economy, the idea of a WPA-themed art auction makes inspired sense. This sale at Swann last week included not only photography supported by the FSA and other government agencies, but artworks in a variety of mediums from the period.
In general, the photographs on offer performed to their modest expectations. A few positive surprises from Rothstein, Sekaer, Vachon, and others helped the Total Sale Proceeds for photography (of roughly $150K) find their way to just 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 | 59 |
| Aggregate Pre Sale Low Estimate | $141900 |
| Aggregate Pre Sale High Estimate | $212300 |
| Total Lots Sold | 43 |
| Total Lots Bought In | 16 |
| Buy In % | 27.12% |
| Total Sale Proceeds | $148527 |
Here is the breakdown (using our typical Low, Mid, and High price range definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 55 |
| Total Low Lots Sold | 43 |
| Total Low Lots Bought In | 12 |
| Low Buy In % | 21.28% |
| Aggregate High Estimate of Low Lots | $158300 |
| Total Proceeds from Low Lots | $148527 |
| Mid Total Lots | 4 |
| Total Mid Lots Sold | 0 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 100.00% |
| Aggregate High Estimate of Mid Lots | $54000 |
| Total Proceeds from Mid Lots | $0 |
| Total High Lots | 0 |
| Total High Lots Sold | NA |
| Total High Lots Bought In | NA |
| High Buy In % | NA |
| Aggregate High Estimate of High Lots | $0 |
| Total Proceeds from High Lots | $0 |
The top lot by High estimate was tied between two lots: lot 13, Lester Beall, It’s Fine For Us/Rural Electrification Administration, 1939, and lot 14, Lester Beall, A Better Home/Rural Electrification Administration, 1941, each estimated at $10000-15000; neither lot found a buyer. The top outcome of the sale was lot 54, John Vachon, A select group of 38 photographs, 1937-1942, estimated at $5000-7500, sold at $37500 (image above, via Swann).
83.72% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Swann):
Lot 18, Charles Krutch, Men playing checkers, Red Bank, Tennessee, for the Tennessee Valley Authority, 1935, estimated at $600-900, sold at $3250
Lot 21, Arthur Rothstein, Rally for the Townsend Plan, Kansas, 1936/1980, estimated at $1000-1500, sold at $3500
Lot 25, Peter Sekaer, Old Fashioned Kitchen on Virginia Farm, 1936, estimated at $1200-1800, sold at $5250
Lot 54, John Vachon, A select group of 38 photographs, 1937-1942, estimated at $5000-7500, sold at $37500
The complete lot by lot results can be found here.
