The results of the third selection of photographic works from Howard Stein’s Joy of Giving Something Foundation were predictably more mixed, but generally solid. With fewer top tier lots, the weight of the sale fell on the stronger mid and low sections of the sale, which performed admirably. The unevenness came in the range of outcomes, with nearly 35% of the lots that sold finding buyers below their estimate ranges, balanced by a total of 16 positive surprises to push the pendulum the other way. When the dust settled, the Total Sale Proceeds fell in middle of the aggregate pre-sale range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 229 |
| Aggregate Pre Sale Low Estimate | $2829500 |
| Aggregate Pre Sale High Estimate | $4205000 |
| Total Lots Sold | 191 |
| Total Lots Bought In | 38 |
| Buy In % | 16.59% |
| Total Sale Proceeds | $3636750 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 104 |
| Total Low Lots Sold | 87 |
| Total Low Lots Bought In | 17 |
| Low Buy In % | 16.35% |
| Aggregate High Estimate of Low Lots | $753000 |
| Total Proceeds from Low Lots | $673125 |
| Mid Total Lots | 115 |
| Total Mid Lots Sold | 96 |
| Total Mid Lots Bought In | 19 |
| Mid Buy In % | 16.52% |
| Aggregate High Estimate of Mid Lots | $2642000 |
| Total Proceeds from Mid Lots | $2387375 |
| Total High Lots | 10 |
| Total High Lots Sold | 8 |
| Total High Lots Bought In | 2 |
| High Buy In % | 20.00% |
| Aggregate High Estimate of High Lots | $810000 |
| Total Proceeds from High Lots | $576250 |
The top lot by High estimate is lot 65, Alfred Stieglitz, ed., Camera Work: A Photographic Quarterly, Numbers 2-50, 1903-1917, estimated at $100000-150000 (image in preview post); it was also the top outcome of the sale at $131250.
Only 65.45% of the lots that sold had proceeds in or above the estimate range, but there were a total of 16 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 22, László Moholy-Nagy, Self-Portrait, 1925, estimated at $30000-50000, sold at $112500
Lot 38, Roy DeCarava, Edna Smith, 1955, estimated at $10000-15000, sold at $30000
Lot 48, E. O. Hoppé, Stahlwerke Hösch, Dortmund, Germany, 1928, estimated at $3000-5000, sold at $13750
Lot 63, Tina Modotti, Hammock, c1926, estimated at $15000-25000, sold at $60000
Lot 75, Alvin Langdon Coburn, Portrait of Arthur Wesley Dow, 1903, estimated at $12000-18000, sold at $62500
Lot 93, Auguste Mestral, Sculpture of St. Denis, Notre Dame, Paris, c1853, estimated at $7000-9000, sold at $35000
Lot 94, William Henry Fox Talbot, Loch Katrine Pier, Scene of the Lady of the Lake, 1844, estimated at $8000-12000, sold at $37500
Lot 112, Captain Linneaus Tripe, Sculpture Study, Central Museum, Madras and The Pagoda Jewels, Madura, 1858-1859, estimated at $7000-9000, sold at $23750
Lot 117, Baron Louis Adolphe Humbert de Molard, Sorting Beans: A Group of Argentelle; Standing, Louis Dodier, 1848, estimated at $10000-15000, sold at $97500
Lot 134, Albert Sands Southworth & Josiah Johnson Hawes, A Woman in Bonnet & Shawl, with Her Seated Son, c1850, estimated at $10000-15000, sold at $35000
Lot 149, Clifford Ross, Wave I, 1997, estimated at $7000-9000, sold at $22500
Lot 155, Michael Kenna, Swings, Catskill Mountains, New York, 1977/1987, estimated at $2000-3000, sold at $7500
Lot 190, Erich Salomon, Selected Press Images (4), 1930-1935, estimated at $6000-8000, sold at $16250
Lot 194, Dinh Q. Lê, Persistence of Memory #10, 2000-2001, estimated at $8000-12000, sold at $27500
Lot 202, Todd Hido, Selected Images from House Hunting (26), 1997-2000, estimated at $10000-15000, sold at $36250
Lot 213, James Welling, Selected Images from Drapes (3), 1981, estimated at $6000-8000, sold at $20000
The complete lot by lot results can be found here.
