The results for the photography buried in Sotheby's Contemporary Art sale earlier this week were decidedly ho-hum. The Buy-In Rate for photography was over 30% and the Total Sale Proceeds for the photo lots missed the Total Low Estimate by a decent margin, with particular softness at the higher end.
The summary statistics are below (all results include the buyer’s premium):
Total Lots: 24
Pre Sale Low Total Estimate: $230100
Pre Sale High Total Estimate: $329700
Total Lots Sold: 16
Total Lots Bought In: 8
Buy In %: 33.33%
Total Sale Proceeds: $194750
Buy In %: 33.33%
Total Sale Proceeds: $194750
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):
Low Total Lots: 11
Low Sold: 10
Low Bought In: 1
Buy In %: 9.09%
Total Low Estimate: $52700
Low Sold: 10
Low Bought In: 1
Buy In %: 9.09%
Total Low Estimate: $52700
Total Low Sold: $42250
Mid Total Lots: 13
Mid Sold: 6
Mid Bought In: 7
Buy In %: 53.85%
Total Mid Estimate: $277000
Total Mid Estimate: $277000
Total Mid Sold: $152500
High Total Lots: 0
High Sold: NA
High Bought In: NA
Buy In %: NA
Total High Estimate: $0
Total High Sold: NA
Total High Sold: NA
The top photography lot by High estimate was lot 245, Elger Esser, Saone, France, 2001, at $30000-40000; it was also the top outcome of the sale at $56250.
Only 68.75% of the lots that sold had proceeds in or above the estimate range, and there were no surprises in this sale (defined as having proceeds of at least double the high estimate).
Complete lot by lot results can be found here.
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