The photography included in the headliner Evening and Day sales from the collection of Sir Elton John at Christie’s in New York last week certainly capitalized on the rock star’s widespread celebrity, as well as his well known love for photography. The top photo lots both sold, the overall Buy-In rate for photography was under 9%, and there were more than a dozen of positive surprises, some of them at decently high prices. When the music stopped, the Total Sale Proceeds for photography (of roughly $5.8M) came in above the midpoint of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 187 |
| Aggregate Pre Sale Low Estimate | $4282000 |
| Aggregate Pre Sale High Estimate | $6546500 |
| Total Lots Sold | 172 |
| Total Lots Bought In | 15 |
| Buy In % | 8.02% |
| Total Sale Proceeds | $5820182 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 58 |
| Total Low Lots Sold | 56 |
| Total Low Lots Bought In | 2 |
| Low Buy In % | 3.45% |
| Aggregate High Estimate of Low Lots | $354500 |
| Total Proceeds from Low Lots | $451952 |
| Mid Total Lots | 103 |
| Total Mid Lots Sold | 91 |
| Total Mid Lots Bought In | 12 |
| Mid Buy In % | 11.65% |
| Aggregate High Estimate of Mid Lots | $2402000 |
| Total Proceeds from Mid Lots | $2345490 |
| Total High Lots | 26 |
| Total High Lots Sold | 25 |
| Total High Lots Bought In | 1 |
| High Buy In % | 3.85% |
| Aggregate High Estimate of High Lots | $3790000 |
| Total Proceeds from High Lots | $3022740 |
The top photography lot by High estimate was tied between two lots, both estimated at $300000-500000: lot 16, Cindy Sherman, Untitled (Film Still #39), 1979, and lot 34, Andreas Gursky, Dior Homme, 2004; the Sherman print was the top photography outcome of the sales at $378000 (image above, via Christie’s), while the Gursky print found a buyer at $302400.
81.98% of the lots that sold had proceeds in or above the estimate range and there were a total of 17 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Christie’s):
Lot 39, Bruce Weber, Running at Point Conception, California, 1987, estimated at $3000-5000, sold at $15120
Lot 48, Terry O’Neill, Elton John (Album Cover Variant), 1974/2014, estimated at $6000-8000, sold at $20790
Lot 108, Imogen Cunningham, Amaryllis Bud, 1933/1940s, estimated at $8000-12000, sold at $27720
Lot 123, Nickolas Muray, Frida Kahlo on Bench, 1939/later, estimated at $8000-12000, sold at $27720
Lot 129, André Kertész, Chair and Horn, Paris, 1935, estimated at $3000-5000, sold at $18900
Lot 136, Josef Sudek, Ladislav Sutnar China (tea cups), c. 1928, estimated at $3000-5000, sold at $11340
Lot 148, Ansel Adams, Oak Tree, Snowstorm, Yosemite National Park, 1948/1973-1977, estimated at $20000-30000, sold at $81900
Lot 151, Walker Evans, The Super Wrench and Open-Ended Crescent Wrench, (from Beauties of the Common Tool for Fortune), 1955, estimated at $5000-7000, sold at $15120
Lot 174, Herbert List, Young Men Under Reed Roof, Torremolinos, 1951/2011, estimated at $6000-8000, sold at $17640
Lot 185, Yves Klein & Harry Shunk, Le Saut Dans le Vide, 1960, estimated at $6000-8000, sold at $25200
Lot 191, Hiroshi Sugimoto, Polar Bear, 1976, estimated at $15000-20000, sold at $69300
Lot 209, Robert Mapplethorpe, Mum, 1989, estimated at $10000-15000, sold at $44100
Lot 220, Duane Michals, From Out of The Cradle Endlessly Rocking (Sea-Drift), 1996, estimated at $1000-1500, sold at $5040
Lot 248, Edward Burtynsky, Manufacturing #17, Deda Chicken Processing Plant, Dehui City, Jilin Province, China, 2005, estimated at $10000-15000, sold at $37800
Lot 252, Andrew Moore, Room 348, Hermitage, St. Petersburg, 2000/2007, estimated at $10000-15000, sold at $42840
Lot 255, Erwin Olaf, Grief, Troy, 2007, estimated at $6000-8000, sold at $16380
Lot 340, Todd Murphy, Welcome to the Beautiful South, 1994, estimated at $15000-20000, sold at $69300
The complete lot by lot results can be found here (Opening Night) and here (The Day Sale).
