The results from the sale of photographs and ephemera from the studio of Edward Curtis at Bonhams in Los Angeles last week were frothy to say the least. The overall Buy-In rate was less than 5% and a total of 60 lots doubled their high estimates (or higher). When the dust settled, the Total Sale Proceeds (of roughly $1.7M) topped the high end of the aggregate pre-sale estimate range by more than $700K.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 165 |
| Aggregate Pre Sale Low Estimate | $703700 |
| Aggregate Pre Sale High Estimate | $1056400 |
| Total Lots Sold | 158 |
| Total Lots Bought In | 7 |
| Buy In % | 4.24% |
| Total Sale Proceeds | $1733895 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 149 |
| Total Low Lots Sold | 145 |
| Total Low Lots Bought In | 4 |
| Low Buy In % | 2.68% |
| Aggregate High Estimate of Low Lots | $548400 |
| Total Proceeds from Low Lots | $1273126 |
| Mid Total Lots | 14 |
| Total Mid Lots Sold | 12 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 14.29% |
| Aggregate High Estimate of Mid Lots | $378000 |
| Total Proceeds from Mid Lots | $416707 |
| Total High Lots | 2 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 1 |
| High Buy In % | 50.00% |
| Aggregate High Estimate of High Lots | $130000 |
| Total Proceeds from High Lots | $44062 |
The top lot by High estimate was lot 147, Edward Curtis, A Curtis Studio album of 149 prints taken for the North American Indian project, 1898-1917, estimated at $50000-70000; it sold at $44062. The top outcome of the sale was lot 3, Edward Curtis, The Vanishing Race, 1904, estimated at $20000-30000, sold at $100312 (image above, via Bonhams),
While 79.11% of the lots that sold had proceeds in or above the estimate range, there were an astonishing 60 positive surprises in the sale (defined as having proceeds of at least double the high estimate). Listed below are the 13 lots that reached 5X their high estimate or more (images above, via Bonhams):
Lot 1, Edward Curtis, Self portrait in field attire, c1899, estimated at $500-700, sold at $6375
Lot 7, Edward Curtis, Prayer to the Great Mystery (Slow Bull, Sioux), c. 1907, estimated at $3000-5000, sold at $44062
Lot 15, Edward Curtis, Zuni governor, c1903, estimated at $2000-3000, sold at $15300
Lot 27, Edward Curtis, Camp on the Little Big Horn, Apsaroke, 1908, estimated at $3000-5000, sold at $27812
Lot 28, Edward Curtis, At the Water’s Edge, Piegan, 1911, estimated at $3000-5000, sold at $27812
Lot 33, Edward Curtis, Black Eagle, Assiniboin, 1908, estimated at $3000-5000, sold at $56562
Lot 43, Edward Curtis, King Island Homes, c. 1928, estimated at $4000-6000, sold at $37812
Lot 47, Edward Curtis, The Scout Apache, 1906, estimated at $7000-9000, sold at $94062
Lot 55, Edward Curtis, Theodore Roosevelt, 1904, estimated at $1000-1500, sold at $14025
Lot 90, Edward Curtis, Selected photogravures from “The North American Indian”, 1904-1920, estimated at $1000-1500, sold at $9562
Lot 146, Handbill for In the Land of the Head Hunters, 1915, estimated at $800-1200, sold at $7650
Lot 151, Curtis Studios art deco carved oak business sign, estimated at $2000-3000, sold at $17812
Lot 160, Charles Russell, Holiday card, 1926, estimated at $400-600, sold at $4080
The complete lot by lot results can be found here.
