Christie’s got the spring auction season for photography started in New York last week with its single owner sale drawn from the Yamakawa collection. Heavy on classic images by well known photographers, the sale perfomed admirably. Diane Arbus’ A box of ten photographs was the top outcome at just under $800K, setting a record for Arbus, albeit with a portfolio not a single print. With an overall Buy-In rate under 5%, the Total Sale Proceeds came in just above the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 44 |
| Aggregate Pre Sale Low Estimate | $1155000 |
| Aggregate Pre Sale High Estimate | $1667000 |
| Total Lots Sold | 42 |
| Total Lots Bought In | 2 |
| Buy In % | 4.55% |
| Total Sale Proceeds | $1683375 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 17 |
| Total Low Lots Sold | 17 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $91000 |
| Total Proceeds from Low Lots | $70250 |
| Mid Total Lots | 22 |
| Total Mid Lots Sold | 21 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 4.55% |
| Aggregate High Estimate of Mid Lots | $496000 |
| Total Proceeds from Mid Lots | $489375 |
| Total High Lots | 5 |
| Total High Lots Sold | 4 |
| Total High Lots Bought In | 1 |
| High Buy In % | 20.00% |
| Aggregate High Estimate of High Lots | $1080000 |
| Total Proceeds from High Lots | $1123750 |
The top lot by High estimate was lot 23, Diane Arbus, A box of ten photographs, 1970, estimated at $500000-700000; it was also the top outcome of the sale at $792500 (image above via Christie’s).
83.33% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sale (defined as having proceeds of at least double the high estimate).
The complete lot by lot results can be found here.
