Auction Results: Photographs, April 6, 2013 @Sotheby's New York

The results from Sotheby's various owner sale last Saturday might best be called workmanlike. A decent Buy-In rate (just under $24%), a few positive surprises, and Total Sale Proceeds that fell within the range (albeit on the low side) add up to an outcome that was solid, if uneventful.

The summary statistics are below (all results include the buyer’s premium):

Total Lots: 239
Pre Sale Low Total Estimate: $4546000
Pre Sale High Total Estimate: $6946000
Total Lots Sold: 182
Total Lots Bought In: 57
Buy In %: 23.85%
Total Sale Proceeds: $5061190

Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 97
Low Sold: 71
Low Bought In: 26
Buy In %: 26.80%
Total Low Estimate: $705000
Total Low Sold: $530315

Mid Total Lots: 117
Mid Sold: 94
Mid Bought In: 23
Buy In %: 19.66%
Total Mid Estimate: $2871000
Total Mid Sold: $2592625

High Total Lots: 25
High Sold: 17
High Bought In: 8
Buy In %: 32.00%
Total High Estimate: $3370000
Total High Sold: $1938250

The top lot by High estimate was lot 165, Man Ray, Calla Lilies, 1931, estimated at $300000-500000; it did not sell. The top outcome of the sale was lot 151, Robert Frank, New Orleans (Trolley), 1955/1972, estimated at $200000-250000, sold at $293000.

84.07% of the lots that sold had proceeds in or above the estimate range. There were a total of 9 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 17, Anonymous American Photographer, Three Men Smoking, 1840s, estimated at $5000-10000, sold at $23750
Lot 36, Paul Strand, Photographs of Mexico, 1932-1933/1940, estimated at $10000-15000, sold at $37500
Lot 38, Laura Gilpin, Selected Studies, 1925-1937, estimated at $5000-7000, sold at $16250
Lot 72, Minor White, Selected Images, 1957-1960/1970, estimated at $3000-5000, sold at $10000
Lot 80, Various Photographers, Select Portraits and Landscapes, 1860-1930, estimated at $500-1000, sold at $3125
Lot 121, Robert Frank, Tesuque, NM (Santa Fe), 1955/later, estimated at $25000-35000, sold at $137000 (image at right, top, via Sotheby's)
Lot 173, Laszlo Moholy-Nagy, Untitled (Positive Photogram), 1925-1928, estimated at $30000-50000, sold at $185000(image at right, middle, via Sotheby's)
Lot 224, Francesca Woodman, Untitled, Self-Portrait, Providence, Rhode Island, 1975-1976, estimated at $10000-15000, sold at $68750 (image at right, bottom, via Sotheby's)
Lot 225, Francesca Woodman, Untitled, Providence, Rhode Island, 1975-1976, estimated at $8000-12000, sold at $37500

Complete lot by lot results can be found here.

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