The secondary market for later prints by Henri Cartier-Bresson is very liquid, with dozens of prints coming up for sale every season. And as result, there tend to be few surprises in the sales of these later prints, as the market knows well what the right values are, for both well known images and lesser known obscurities.
This sale of Cartier-Bresson prints from the collection of gallerist Peter Fetterman followed this pattern, with most of the prints settling into established ranges. The top lot was a larger-than-usual print of a winter scene from Hungary, which doubled its high estimate. Overall, the Buy-In rate was roughly a third, and the Total Sale Proceeds (of roughly $715K) came in just above the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
|Aggregate Pre Sale Low Estimate||$670000|
|Aggregate Pre Sale High Estimate||$993000|
|Total Lots Sold||63|
|Total Lots Bought In||32|
|Buy In %||33.68%|
|Total Sale Proceeds||$714042|
Here is the breakdown (using our typical Low, Mid, and High definitions):
|Low Total Lots||62|
|Total Low Lots Sold||37|
|Total Low Lots Bought In||25|
|Low Buy In %||40.32%|
|Aggregate High Estimate of Low Lots||$497000|
|Total Proceeds from Low Lots||$285012|
|Mid Total Lots||33|
|Total Mid Lots Sold||26|
|Total Mid Lots Bought In||7|
|Mid Buy In %||21.21%|
|Aggregate High Estimate of Mid Lots||$496000|
|Total Proceeds from Mid Lots||$429030|
|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 lot 36, Henri Cartier-Bresson, Natchez, Mississippi, 1947/later, estimated at $15000-25000; it sold at $25200. The top outcome of the sale was lot 82, Henri Cartier-Bresson, Győr, Hungary, 1964/later, estimated at $12000-18000, sold at $37800 (image above via Sotheby’s).
96.83% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 49, Henri Cartier-Bresson, Srinagar, India, 1948/later, estimated at $7000-10000, sold at $20160
Lot 82, Henri Cartier-Bresson, Győr, Hungary, 1964/later, estimated at $12000-18000, sold at $37800
The complete lot by lot results can be found here.