Auction Results: Contemporary Art Evening and Day Auctions, June 26 and 27, 2013 @Sotheby's London

Andreas Gursky easily carried the photographic load at Sotheby's Contemporary Art auctions in London last week. His five stock exchange images in the Evening sale brought in just under £5.5M in aggregate, and with the help of the Struth Pantheon image at roughly £800K, basically made the rest of the results irrelevant. Even with an overall Buy-In rate near 35%, the Total Sale Proceeds still soared over the pre-sale high estimate.

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

Total Photography Lots: 43
Pre Sale Low Total Estimate: £3961000
Pre Sale High Total Estimate: £5503000
Total Lots Sold: 28
Total Lots Bought In: 15
Buy In %: 34.88%
Total Sale Proceeds: £7171475

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

Low Total Lots: 0
Low Sold: NA
Low Bought In: NA
Buy In %: NA
Total Low Estimate: £0
Total Low Sold: NA

Mid Total Lots: 22
Mid Sold: 14
Mid Bought In: 8
Buy In %: 36.36%
Total Mid Estimate: £343000
Total Mid Sold: £250625

High Total Lots: 21
High Sold: 14
High Bought In: 7
Buy In %: 33.33%
Total High Estimate: £5160000
Total High Sold: £6920850

The top lot by High estimate was lot 28, Andreas Gursky, Chicago Board of Trade, 1997, estimated at £700000-900000; it sold for £1538500. The top outcome of the two sales was lot 26, Andreas Gursky, Chicago Board of Trade III, 1999-2009, estimated at £600000-800000, sold at £2154500 (image at right, top, via Sotheby's).

100.00% of the lots that sold had proceeds in or above their estimate. There were four surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 26, Andreas Gursky, Chicago Board of Trade III, 1999-2009, estimated at £600000-800000, sold at £2154500
Lot 437, Mona Hatoum, Performance Still, 1985-1995, estimated at £6000-8000, sold at £20000 (image at right, middle, via Sotheby's)
Lot 447, Thomas Struth. Jiangxi Zhong Lu, Shanghai, 1996, estimated at £12000-18000, sold at £40000
Lot 448, Thomas Struth, Nanjing Xi Lu 2, Shanghai, 2002, estimated at £18000-25000, sold at £57500 (image at right, bottom, via Sotheby's)

Complete lot by lot results can be found here (Evening) and here (Day).

Sotheby's
34-35 New Bond Street
London W1A 2AA

Auctions: Contemporary Art Evening and Day Auctions, June 26 and 27, 2013 @Sotheby's London

Five stock exchange images by Andreas Gursky headline Sotheby's Contemporary Art Evening and Day sales in London this week; Hong Kong, Tokyo, Kuwait, and a pair from Chicago are a run of five consecutive lots in the evening auction. With the help of their big ticket estimates, there's quite a bit of photo value on the line. Overall, there are a total of 43 photography lots available across the two sales, with a Total High Estimate of £5503000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including £5000): 0
Total Low Estimate (sum of high estimates of Low lots): NA

Total Mid Lots (high estimate between £5000 and £25000): 22
Total Mid Estimate: £343000

Total High Lots (high estimate above £25000): 21
Total High Estimate: £5160000

The top lot by High estimate is lot 28, Andreas Gursky, Chicago Board of Trade, 1997, at £700000-900000. (Image at right, top, via Sotheby's.)

Here is a list of the photographers who are represented by more than one lot in the two sales (with the number of lots in parentheses):
Andreas Gursky (7)
Richard Prince (4)
Candida Höfer (3)
Thomas Struth (3)
Gabriel Orozco (2)
Wolfgang Tillmans (2)

Other lots of interest include lot 413, Martin Kippenberger, We don't have problems...30, 1989, at £20000-30000 (at right, middle) and lot 446, Piotr Uklański, Untitled (Foliage), 2003, at £12000-18000 (at right, bottom, both images via Sotheby's).

The complete lot by lot catalogs can be found here (Evening) and here (Day).

Contemporary Art Evening
June 26th

Contemporary Art Day
June 27th

Sotheby's
34-35 New Bond Street
London W1A 2AA

Auction Results: Photographies, May 29, 2013 @Sotheby's Paris

The results from Sotheby's recent Photographies sale in Paris were generally weaker than expected. At one point during the early part of the sale, in a run of 36 lots, only 2 lots found buyers. With an overall Buy-In rate over 50%, it isn't hugely surprising that the Total Sale Proceeds missed the low end of the estimate range by a meaningful margin.

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

Total Lots: 221
Pre Sale Low Total Estimate: €1725400
Pre Sale High Total Estimate: €2399800
Total Lots Sold: 105
Total Lots Bought In: 116
Buy In %: 52.49%
Total Sale Proceeds: €1478550

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

Low Total Lots: 103
Low Sold: 43
Low Bought In: 60
Buy In %: 58.25%
Total Low Estimate: €541800
Total Low Sold: €330775

Mid Total Lots: 111
Mid Sold: 59
Mid Bought In: 52
Buy In %: 46.85%
Total Mid Estimate: €1488000
Total Mid Sold: €960875

High Total Lots: 7
High Sold: 3
High Bought In: 4
Buy In %: 57.14%
Total High Estimate: €370000
Total High Sold: €186900

The top lot by High estimate was lot 172, Helmut Newton, Naomi, Cap D'Antibes, 1998, estimated at €80000-120000; it did not sell. The top outcome of the sale was lot 143, Robert Mapplethorpe, Ken, Lydia & Tyler, 1985, estimated at €30000-40000, sold at €73500.

95.24% of the lots that sold had proceeds in or above the estimate range. There were thirteen surprises in this sale (defined as having proceeds of at least double the high estimate):

Lot 2, Anonyme, Marin Grec, 1844, estimated at €6000-8000, sold at €25000
Lot 4, Anonyme, Les Remparts D'Alger, 1844, estimated at €7000-9000, sold at €30000
Lot 6, Anonyme, Vue du Port D'Alger, 18444, estimated at €5000-7000, sold at €39900
Lot 7, Anonyme, Le Port D'Alger, 1844, estimated at €8000-12000, sold at €37500
Lot 8, Anonyme, Mosquee de Coleah, 1844, estimated at €6000-8000, sold at €18750
Lot 50, Etienne Leopold Trouvelot, Etincelle electrique directe, 1885, estimated at €4000-5000, sold at €11250 (image at right, top, via Sotheby's)
Lot 74, Constantin Brancusi, Sans Titre, 1920, estimated at 6000-8000, sold at $37500 (image at right, bottom, via Sotheby's)
Lot 75, Constantin Brancusi, Isac, 1920, estimated at €4000-6000, sold at €12500
Lot 79, Laure Albin-Guillot, Orchidees, 1927, estimated at €4000-6000, sold at €32500 (image at right, middle, via Sotheby's)
Lot 118, Philippe Halsman, Woody Allen, 1969, estimated at €1500-2000, sold at €4250
Lot 147, Herb Ritts, Versace Dress, Back View, El Mirage, 1990, estimated at €10000-15000, sold at €32500
Lot 151, Manuel Alvarez Bravo, Frida Kahlo, 1933/later, estimated at €4000-6000, sold at €23750
Lot 200, Andres Serrano, The Morgue (Child Abuse), 1992, estimated at €8000-12000, sold at €28750

Complete lot by lot results can be found here.

Sotheby's
76, Rue Du Faubourg Saint-Honoré
75008 Paris

Auction: Photographies, May 29, 2013 @Sotheby's Paris

Sotheby's Paris has a various owner photographs sale scheduled for next week, led by two sets of works from private collections, set off in colored pages in the printed catalog. Overall, there are a total of 221 lots on offer, with a Total High Estimate of €2399800.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including €7500): 103
Total Low Estimate (sum of high estimates of Low lots): €541800

Total Mid Lots (high estimate between €7500 and €35000): 111
Total Mid Estimate: €1488000

Total High Lots (high estimate above €35000): 7
Total High Estimate: €370000

The top lot by High estimate is lot 172, Helmut Newton, Naomi, Cap D'Antibes, 1998, estimated at €80000-120000 (image at right, top, via Sotheby's.).

Here is a list of the photographers who are represented by three or more lots in the sale (with the number of lots in parentheses):

Helmut Newton (12)
Eugène Atget (8)
Herb Ritts (8)
Charles Clifford (6)
Laure Albin-Guillot (5)
Henri Cartier-Bresson (5)
Charles-Isidore Choiselat & Stanislas Ratel (5)
Horst P. Horst (4)
Man Ray (4)
Andres Serrano (4)
Albert Sands Southworth & Josiah Johnson Hawes (4)
William Eggleston (3)
Nan Goldin (3)
Hiroshi Sugimoto (3)

Other lots of interest include lot 29, Julia Margaret Cameron, Beatrice, 1870, estimated at €8000-12000 (image at right, middle, via Sotheby's) and lot 93, Hans  Bellmer, Poupee Reversible en Repos, 1936, estimated at €12000-15000 (image at right, bottom, via Sotheby's)

The complete lot by lot catalog can be found here.

Photographies
May 29th

Sotheby's
76, Rue Du Faubourg Saint-Honoré
75008 Paris

Auction Results: Contemporary Art, Evening and Day Sales, May 14 and 15, 2013 @Sotheby's New York

When Andreas Gursky's Rhein II sold for just over $4.3 million dollars in 2011, setting the record for the top price ever paid at auction for a photograph, the result created a flood of commentary in the popular press. Some writers took the approach of considering the sale of the Gursky as a signpost for the ever increasing value of contemporary photography in comparison to other types of contemporary art, while others opted for the snarkier "would you pay that kind of money for a boring river landscape?" kind of hatchet job. In both cases, there was plenty of hue and cry over a photograph garnering such astronomical sums and plenty of speculation about what it all might mean.

 

Last week, the Jeff Koons photograph shown above, The New Jeff Koons, from 1980, sold for $9405000 and hardly a peep was heard from either the photography press or the mainstream art media. For the record, the work is a Duratrans transparency displayed on a lightbox (the power cord is just visible in the lower left). Duratrans is a color transparency material developed by Kodak in the late 1970s that is generally used for backlit photographic signage, tradeshow booths, and TV studio displays. So apart from the technical hairsplitters who will want to consider the printing differences between this process and that used by Jeff Wall for his color transparencies, I think we are safe in calling this work a "photograph", especially given the way the work is presented and Koons' options in 1980 when he made the work. In an age when the definition of "photograph" has been extended in so many different ways, I don't think I'm out on a limb in any way in including this particular image under the larger umbrella of the medium. So shouldn't we be having an overheated debate about the merits of Koons' early image, where it fits in his artistic development, where it belongs in the history of photographic portraiture, and whether its recent price is in any way correlated its overall importance? Didn't we just more than double the top price ever paid for a photograph?

In the context of the photography buried in Sotheby's pair of Contemporary Art sales last week, there's nothing like a work estimated at $2.5-3.5M selling for $9.4M to pump up the results numbers. More generally, the overall Buy-In rate was up over 35% and there were hardly any positive surprises beyond the Koons, so while we might have predicted a less than stellar overall outcome, the astonishing success of the Koons drowns out any other statistical analysis we might normally make.

As usual, the summary statistics are below (all results include the buyer’s premium):

Total Photography Lots: 53
Pre Sale Low Total Estimate: $7086000
Pre Sale High Total Estimate: $10018000
Total Lots Sold: 33
Total Lots Bought In: 20
Buy In %: 37.74%
Total Sale Proceeds: $13291625

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

Low Total Lots: 0
Low Sold: NA
Low Bought In: NA
Buy In %: NA
Total Low Estimate: $0
Total Low Sold: NA

Mid Total Lots: 22
Mid Sold: 15
Mid Bought In: 7
Buy In %: 31.82%
Total Mid Estimate: $618000
Total Mid Sold: $485000

High Total Lots: 31
High Sold: 18
High Bought In: 13
Buy In %: 41.94%
Total High Estimate: $9400000
Total High Sold: $12806625

The top photography lot by High estimate was lot 9, Jeff Koons, The New Jeff Koons, 1980, estimated at $2500000-3500000; it was also the top outcome of the sale at $9405000 (image at top, via Sotheby's).

93.94% of the lots that sold had proceeds in or above their estimate. There were only two surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 9, Jeff Koons, The New Jeff Koons, 1980, estimated at $2500000-3500000, sold at $9405000
(image at right, top, via Sotheby's)
Lot 604, Ashley Bickerton, The Expats, 2004, estimated at $30000-50000, sold at $100000 (image at right, bottom, via Sotheby's)

Complete lot by lot results can be found here (Evening) and here (Day).

Sotheby's
1334 York Avenue
New York, NY 10021

Auctions: Contemporary Art, Evening and Day Sales, May 14 and 15, 2013 @Sotheby's New York

Sotheby's is up first in next week's Contemporary Art sales in New York, with Evening and Day sales on Tuesday and Wednesday. There are plenty of high end photographs on offer, led by a Koons duratran lightbox with a big estimate ($2500000-3500000). The rest of the top lots (Prince, Sherman, Gursky, Wall et al) are mostly usual suspects. Overall, there are a total of 53 lots of photography on offer, with an impressive Total High Estimate for photography of $10018000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 0
Total Low Estimate (sum of high estimates of Low lots): $0

Total Mid Lots (high estimate between $10000 and $50000): 22
Total Mid Estimate: $618000

Total High Lots (high estimate above $50000): 31
Total High Estimate: $9400000

The top photography lot by High estimate is lot 9, Jeff Koons, The New Jeff Koons, 1980, estimated at $2500000-3500000 (image at right, top, via Sotheby's).

Here's the list of photographers represented by three or more lots in the two sales (with the number of lots in parentheses):

David LaChapelle (4)
Vik Muniz (4)
Richard Prince (4)
Hiroshi Sugimoto (3)

Other photographs of interest include lot 57, Richard Prince, Untitled (Cowboy), 2001, estimated at $800000-1200000 (image at right, middle, via Sotheby's) and lot 504, Hiroshi Sugimoto, Chrysler Building, 1997, estimated at $200000-300000 (image at right, bottom, via Sotheby's.)

The complete lot by lot catalogs can be found here (Evening) and here (Day).

Contemporary Art (Evening)
May 14th

Contemporary Art (Day)
May 15th

Sotheby's
1334 York Avenue
New York, NY 10021

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.

Sotheby's
1334 York Avenue
New York, NY 10021

Auction Results: The Modern Image, Photographs from an Important American Collection, April 5, 2013 @Sotheby's New York

The results from this single owner sale at Sotheby's last week are proof that if the overall Buy-In rate can be kept low, even if prices aren't particularly frothy, the Total Sale Proceeds will likely come in in an acceptable range. Roughly 35% of the lots that sold in this auction found buyers below their pre-sale estimates, but with a Buy-In rate of just under 17%, the aggregate proceeds fell right in the middle of the range.

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

Total Lots: 59
Pre Sale Low Total Estimate: $1943000
Pre Sale High Total Estimate: $2950000
Total Lots Sold: 49
Total Lots Bought In: 10
Buy In %: 16.95%
Total Sale Proceeds: $2544376

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

Low Total Lots: 21
Low Sold: 16
Low Bought In: 5
Buy In %: 23.81%
Total Low Estimate: $181000
Total Low Sold: $156875

Mid Total Lots: 25
Mid Sold: 21
Mid Bought In: 4
Buy In %: 16.00%
Total Mid Estimate: $598000
Total Mid Sold: $487126

High Total Lots: 13
High Sold: 12
High Bought In: 1
Buy In %: 7.69%
Total High Estimate: $2180000
Total High Sold: $1909375

The top lot by High estimate was lot 18, Edward Weston, Two Shells, 1927, estimated at $600000-900000; it was also the top outcome of the sale at $533000.

Only 65.31% of the lots that sold had proceeds in or above the estimate range. There were a total of 4 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 16, Edward Steichen, Anna May Wong, 1930, estimated at $7000-10000, sold at $25000
Lot 17, Edward Steichen, Douglass Lighters (for J. Walter Thompson), 1926, estimated at $40000-60000, sold at $203000 (image at right, top, via Sotheby's)
Lot 28, Walker Evans, Defensa Carniceria, Havana, 1933, estimated at $6000-9000, sold at $20000 (image at right, bottom, via Sotheby's)
Lot 55, Irving Penn, Nude Torso, Soaping, New York, 1978/1992, estimated at $15000-25000, sold at $59375 (image at right, middle, via Sotheby's)

Complete lot by lot results can be found here.

Sotheby's
1334 York Avenue
New York, NY 10021

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

Sotheby's second auction of the week is its hefty various owner Photographs sale, headlined by a significant and diverse group of Robert Frank prints from the collection of Charles and Barbara Reiher. While many of Frank's famous images are of course present in this bunch, it's the lesser known ones that are worth seeking out. Overall, there are a total of 239 lots of photography on offer, with a total High estimate of $6946000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 97
Total Low Estimate (sum of high estimates of Low lots): $705000

Total Mid Lots (high estimate between $10000 and $50000): 117
Total Mid Estimate: $2871000

Total High Lots (high estimate above $50000): 25
Total High Estimate: $3370000

The top lot by High estimate is lot 165, Man Ray, Calla Lilies, 1931, estimated at $300000-500000 (image at right, top, via Sotheby's).

Here's the list of photographers represented by five or more lots in the sale (with the number of lots in parentheses):

Robert Frank (21)
Ansel Adams (14)
Henri Cartier-Bresson (12)
Berenice Abbott (11)
Minor White (7)
Harry Callahan (6)
Horst P. Horst (6)
Yousuf Karsh (6)
Peter Beard (5)
Ruth Bernhard (5)
Lee Friedlander (5)
Alfred Stieglitz (5)

Other photographs of interest include lot 171, Laszlo Mohloy-Nagy, In the Sand, c1925, estimated at $100000-150000 (image at right, middle, via Sotheby's) and lot 124, Robert Frank, Untitled (rooftop), estimated at $10000-15000 (image at right, bottom, via Sotheby's.)

The complete lot by lot catalog can be found here.

Photographs
April 6th

Sotheby's
1334 York Avenue
New York, NY 10021

Auction: The Modern Image, Photographs from an Important American Collection, April 5, 2013 @Sotheby's New York

Sotheby's takes up the final position in the April run of New York photography auctions, with a pair of sales on Friday and Saturday. The first auction is a single owner sale, with the works drawn from the collection of Dr. Paul Scharf. All in, there are a total of 59 lots of photography on offer, with a total High estimate of $2950000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 21
Total Low Estimate (sum of high estimates of Low lots): $181000

Total Mid Lots (high estimate between $10000 and $50000): 25
Total Mid Estimate: $589000

Total High Lots (high estimate above $50000): 13
Total High Estimate: $2180000

The top lot by High estimate is lot 18, Edward Weston, Two Shells, 1927, estimated at $600000-900000 (image at right, top, via Sotheby's).

Here's the list of photographers represented by three or more lots in the sale (with the number of lots in parentheses):

Edward Weston (5)
Frantisek Drtikol (3)
Lewis Hine (3)
Edward Steichen (3)
Karl Struss (3)

Other photographs of interest include lot 19, Frantisek Drtikol, Composition (Nude with Circles), 1928, estimated at $70000-100000 (image at right, middle, via Sotheby's) and lot 11, Edward Weston, Nude (Charis), 1934, estimated at $70000-100000 (image at right, bottom, via Sotheby's.)

The complete lot by lot catalog can be found here.

The Modern Image: Photographs from an Important American Collection
April 5th

Sotheby's
1334 York Avenue
New York, NY 10021

Auction Results: Contemporary Art, March 7, 2013 @Sotheby's New York

The photographic material in Sotheby's recent Armory week Contemporary Art sale clearly didn't attract much attention. The results of the sale were pretty dismal, with a Buy-In rate for photography over 50% and Total Sale Proceeds for photography coming in way under the low estimate.

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

Total Lots: 32
Pre Sale Low Total Estimate: $499000
Pre Sale High Total Estimate: $704000
Total Lots Sold: 15
Total Lots Bought In: 17
Buy In %: 53.13%
Total Sale Proceeds: $271625

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

Low Total Lots: 8
Low Sold: 4
Low Bought In: 4
Buy In %: 50.00%
Total Low Estimate: $59000
Total Low Sold: $26500

Mid Total Lots: 22
Mid Sold: 11
Mid Bought In: 11
Buy In %: 50.00%
Total Mid Estimate: $50500
Total Mid Sold: $245125

High Total Lots: 2
High Sold: 0
High Bought In: 2
Buy In %: 100.00%
Total High Estimate: $140000
Total High Sold: $0

The top photography lot by High estimate was lot 137, Mike Kelley and Bob Flanagan, More Love Than Can Ever Be Repaid, 1990, estimated at $60000-80000; it did not sell. The top outcome of the sale was lot 207, Pieter Hugo, Jatto with Mainasara, Ogere-Remo, Nigeria, 2007, estimated at $25000-35000; it sold for $43750.

80.00% of the lots that sold had proceeds in or above the estimate range and there were no surprises in the sale (defined as having proceeds of at least double the high estimate).

(Lot 203, Alex Prager, Cindy (from the Big Valley series), 2008, estimated at $5000-7000, sold for $10000. Image via Sotheby's.)

Complete lot by lot results can be found here.

Sotheby's
1334 York Avenue
New York, NY 10021

Auction: Contemporary Art, March 7, 2013 @Sotheby's New York

Sotheby's is up first in this week's Armory friendly sales, with its Contemporary Art sale on Thursday. Photography-wise, the sale is light on headliner images, but there are a handful of solid images that could potentially siphon off some fair-directed cash. All in, there are a total of 32 lots of photography on offer, with a total High estimate for photography of $704000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 8
Total Low Estimate (sum of high estimates of Low lots): $59000

Total Mid Lots (high estimate between $10000 and $50000): 22
Total Mid Estimate: $505000

Total High Lots (high estimate above $50000): 2
Total High Estimate: $140000

The top photography lot by High estimate is lot 137, Mike Kelley and Bob Flanagan, More Love Than Can Ever Be Repaid, 1990, estimated at $60000-80000.

Here's the list of photographers represented by two or more lots in the sale (with the number of lots in parentheses):

Gregory Crewdson (4)
Philip-Lorca DiCorcia (2)
David LaChapelle (2)
Julian Opie (2)
Richard Prince (2)

Other photographs of interest include lot 101, Walead Beshty, Three Sided Picture, 2007, estimated at $25000-35000 (image at right, top), lot 207, Pieter Hugo, Jatto with Mainasara, Ogere-Remo, Nigeria, 2007, estimated at $25000-35000 (image at right, middle), and lot 219, Philip-Lorca DiCorcia, Hong Kong, 1996, estimated at $12000-18000 (image at right, bottom, all via Sotheby's.)

The complete lot by lot catalogs can be found here.

Contemporary Art
March 7th

Sotheby's
1334 York Avenue
New York, NY 10021

Auction Results: Contemporary Art Evening and Day Auctions, February 12 and 13, 2013 @Sotheby's London

The photography results from Sotheby's Contemporary Art auctions in London last week were generally lackluster, dragged down by a few too many passes on the higher priced photographs. With an overall Buy-In rate for photography across the two sales of nearly 30% and almost no meaningful positive surprises, the Total Sale Proceeds for photography came in under the low end of the range.

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

Total Photography Lots: 34
Pre Sale Low Total Estimate: £1293000
Pre Sale High Total Estimate: £1901000
Total Lots Sold: 24
Total Lots Bought In: 10
Buy In %: 29.41%
Total Sale Proceeds: £1224600

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

Low Total Lots: 0
Low Sold: NA
Low Bought In: NA
Buy In %: NA
Total Low Estimate: £0
Total Low Sold: NA

Mid Total Lots: 21
Mid Sold: 17
Mid Bought In: 4
Buy In %: 19.05%
Total Mid Estimate: £321000
Total Mid Sold: £283450

High Total Lots: 13
High Sold: 7
High Bought In: 6
Buy In %: 46.15%
Total High Estimate: £1580000
Total High Sold: £941150

The top lot by High estimate was lot 37, Andreas Gursky, Singapore Börse, 1997, at £350000-550000; it was also the top outcome of the two sales £421250.

95.83% of the lots that sold had proceeds in or above their estimate. There was only one surprise in these sales (defined as having proceeds of at least double the high estimate), coming on one of the lowest estimated lots:

Lot 361, David LaChapelle, Andy Warhol: Last Sitting, 1986 and Jeff Koons: Sandwich, 2001, together estimated at £5000-7000, selling for £15000 (image at right, top, via Sotheby's)

Complete lot by lot results can be found here (Evening) and here (Day).

Sotheby's
34-35 New Bond Street
London W1A 2AA

Auctions: Contemporary Art Evening and Day Auctions, February 12 and 13, 2013 @Sotheby's London

Sotheby's kicks off the 2013 Spring Contemporary Art season with Evening and Day sales next week in London. The top photography lots include works by Gursky, Prince, and Gilbert & George. Overall, there are a total of 34 photography lots available across the two sales, with a Total High Estimate of £1901000.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including £5000): 0
Total Low Estimate (sum of high estimates of Low lots): NA

Total Mid Lots (high estimate between £5000 and £25000): 21
Total Mid Estimate: £321000

Total High Lots (high estimate above £25000): 13
Total High Estimate: £1580000

The top lot by High estimate is lot 37, Andreas Gursky, Singapore Börse, 1997, at £350000-550000. (Image at right, top, via Sotheby's.)

Here is a list of the photographers who are represented by more than one lot in the two sales (with the number of lots in parentheses):

Candida Höfer (3)
Thomas Ruff (3)
Gilbert & George (2)
Andreas Gursky (2)
David LaChapelle (2)
Cindy Sherman (2)

Other lots of interest include lot 294, Richard Prince, Untitled (Pens), 1979, at £120000-180000 (at right, middle) and lot 228, Olafur Eliasson, 360° Crystal Palace, 2007, at £60000-80000 (at right, bottom, both images via Sotheby's).

The complete lot by lot catalogs can be found here (Evening) and here (Day).

Contemporary Art Evening
February 12th

Contemporary Art Day
February 13th

Sotheby's
34-35 New Bond Street
London W1A 2AA

Auction Results: A Show of Hands: Photographs from the Collection of Henry Buhl, December 12 and 13, 2012 @Sotheby's

The results of the Buhl collection sale at Sotheby's earlier this week were marked by a mix of highs and lows. On the high side, the Total Sale Proceeds covered the Total High Estimate, and new auction records were set for Herbert Bayer, El Lissitzky, Lee Miller, Peter Hujar, and Helen Levitt, with additional records for photographs by Man Ray and Gabriel Orozco. There were lots of positive surprises, and more than 38% of the lots sold for above the estimate range. On the low side, the Buy-In Rate of nearly 35% was quite high, meaning that many of the more esoteric and unknown hand pictures failed to find buyers. All in, probably about what we might have expected for such a broad collection.

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

Total Lots: 432
Pre Sale Low Total Estimate: $8119600
Pre Sale High Total Estimate: $12157500
Total Lots Sold: 281
Total Lots Bought In: 151
Buy In %: 34.95%
Total Sale Proceeds: $12318704

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

Low Total Lots: 270
Low Sold: 166
Low Bought In: 104
Buy In %: 38.52%
Total Low Estimate: $1560500
Total Low Sold: $973329

Mid Total Lots: 116
Mid Sold: 78
Mid Bought In: 38
Buy In %: 32.76%
Total Mid Estimate: $2387000
Total Mid Sold: $2046500

High Total Lots: 46
High Sold: 37
High Bought In: 9
Buy In %: 19.57%
Total High Estimate: $8210000
Total High Sold: $9298875

The top lot by High estimate was lot 33, Alfred Stieglitz, Georgia O'Keeffe - Hands and Thimble, 1919, at $800000-1200000; it sold for $770500. The top outcome of the sale was tied between lot 12, Herbert Bayer, Lonely Metropolitan, 1932, at $300000-500000 and lot 20, Laszlo Moholy-Nagy, Fotogramm, 1925, at $300000-500000; both sold for $1482500. (All three images are displayed in the preview post, linked above.)

82.21% of the lots that sold had proceeds in or above the estimate range. There were a total of 37 surprises in the sale (defined as having proceeds of at least double the high estimate). Normally, these would be enough to hold our attention, but within this group, there were a total of 8 extreme surprises (defined as having proceeds of at least triple the high estimate); these are listed below:

Lot 9, Man Ray, Mannequin Fatigué, 1926, at $314500 (image at right, middle, via Sotheby's)
Lot 47, Edward Weston, Charis at Lake Ediza, 1937, at $62500
Lot 82, Gabriel Orozco, Mis Manos Son Mi Corazon, 1991, at $278500 (image at right, top, via Sotheby's)
Lot 178, Georges Hugnet, Arms and Canal, 1936, at $28125 (image at right, bottom, via Sotheby's)
Lot 180, Man Ray, Meret Oppenheim at the Printing Wheel, 1933, at $98500
Lot 344, Kenneth Josephson, New York State, 1970, at $11250
Lot 424, Robert Mapplethorpe, Nude Self-Portrait, 1973, at $43750
Lot 427, Larry Gianettino, Blood Finger (AKA Self-Portrait in Blood), 2000, at $8750

Complete lot by lot results can be found here.

Sotheby's
1334 York Avenue
New York, NY 10021

Auction: A Show of Hands: Photographs from the Collection of Henry Buhl, December 12 and 13, 2012 @Sotheby's

While I haven’t posted many auction previews/results in recent months, I think the upcoming single owner Buhl sale at Sotheby’s is worth following. Henry Buhl’s extensive collection of photographic hands (over 1000 images I'm told) is somewhat legendary among collectors. Shown at the Guggenheim in 2004, it’s an obsessive, expansive, single subject matter private collection that spans the entire history of the medium, from Fox Talbot and early daguerreotypes to Wall, Baldessari and Sherman. It includes photograms, Surrealism, FSA imagery, a wide range of portraits, photojournalism, advertising, scientific photographs, basically any and every type of photograph ever made with a hand in it in some fashion. As subject matter driven collectors ourselves, I am fascinated by what he has unearthed and gathered together, and how compellingly it can tell the story of photography through a single narrow slice. Most every major photographic name is represented here, sometimes by an iconic show stopper (like the ones illustrated at right), but often by an image that is much less well known. I think this is the genius and joy of the collection - going off in a direction no one else is interested in and uncovering countless gems that have been overlooked and underappreciated. The sale itself includes a total of 432 lots across two days, with a total High estimate of $12157500. The preview will certainly be worth a visit, for collectors and casual gallery goers alike.

Here's the statistical breakdown:

Total Low Lots (high estimate up to and including $10000): 270
Total Low Estimate (sum of high estimates of Low lots): $1560500

Total Mid Lots (high estimate between $10000 and $50000): 116
Total Mid Estimate: $2387000

Total High Lots (high estimate $50000 and above): 46
Total High Estimate: $8210000

The top lot by High estimate is lot 33, Alfred Stieglitz, Georgia O'Keeffe - Hands and Thimble, 1919, at $800000-1200000. (Image at right, top, via Sotheby's.)

Here's the list of photographers represented by four or more lots in the sale (with the number of lots in parentheses):

Man Ray (7)
Ruth Bernhard (4)
Imogen Cunningham (4)
Adam Fuss (4)
Ralph Gibson (4)
Robert Mapplethorpe (4)
Edward Weston (4)

(Lot 12, Herbert Bayer, Lonely Metropolitan, 1932, at $300000-500000, image at right, middle, and lot 20, Laszlo Moholy-Nagy, Fotogramm, 1925, at $300000-500000, image at right, bottom, both via Sotheby's.)

The complete lot by lot catalog can be found here.

A Show of Hands: Photographs from the Collection of Henry Buhl
December 12th and 13th

Sotheby's
1334 York Avenue
New York, NY 10021

Auction Results: Contemporary Art Evening and Day Auctions, June 29 and 30, 2011 @Sotheby's London

The photography up for sale in Sotheby's Contemporary Art auctions in London last week solidly met expectations. With an overall Buy-In rate across the two sales of 20% and a number of postitive surprises, the Total Sale Proceeds for photography came in near the top end of the range.

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

Total Lots: 40
Pre Sale Low Total Estimate: £1999000
Pre Sale High Total Estimate: £2783000
Total Lots Sold: 32
Total Lots Bought In: 8
Buy In %: 20.00%
Total Sale Proceeds: £2570650
.
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 1
Low Sold: 1
Low Bought In: 0
Buy In %: 0.00%
Total Low Estimate: £5000
Total Low Sold: £6875

Mid Total Lots: 23
Mid Sold: 19
Mid Bought In: 4
Buy In %: 17.39%
Total Mid Estimate: £378000
Total Mid Sold: £482725
.
High Total Lots: 16
High Sold: 12
High Bought In: 4
Buy In %: 25.00%
Total High Estimate: £2400000
Total High Sold: £2081050
.
The top lot by High estimate was lot 39, Andreas Gursky, Engadin II, 2006, at £500000-700000; it was also the top outcome of the two sales at £937250.

93.75% of the lots that sold had proceeds in or above their estimate. There were seven surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 101, Jorg Immendorff, Den Eisbaren Mal Reinhalten  (Polar Bear Poker), 1968, at £32450
Lot 242, Andreas Gursky, Gasherd (Gas Cooker), 1980, at £55250
Lot 244, Gerhard Richter, 20.5.07:21.5.07 (diptych), 2007, at £56450
Lot 245, Wolfgang Tillmans, Paper Drop (Roma), 2007, at £49250 (image at right, bottom, via Sotheby's)
Lot 262, Annie Leibovitz, Queen Elizabeth II, Buckingham Palace, London, 2007/2011, at £50450 (image at right, top, via Sotheby's)
Lot 298, Cindy Sherman, Untitled #174, 1987, at £61250
Lot 300, Gilbert & George, The Red Sculpture Album, 1975, at £43250

Complete lot by lot results can be found here (Evening) and here (Day).

Sotheby's
34-35 New Bond Street
London W1A 2AA

Auctions: Contemporary Art Evening and Day Auctions, June 29 and 30, 2011 @Sotheby's London

Sotheby's finishes up the Spring Contemporary Art season with Evening and Day sales next week in London. The top photography lots include works by Gursky, Eliasson, and Gilbert & George. There is also a Gillian Wearing commission available as a benefit for Serpentine Sackler Gallery. Overall, there are a total of 40 photo lots available across the two sales, with a Total High Estimate of £2783000.

Here's the usual statistical breakdown:

Total Low Lots (high estimate up to and including £5000): 1
Total Low Estimate (sum of high estimates of Low lots): £5000

Total Mid Lots (high estimate between £5000 and £25000): 23
Total Mid Estimate: £378000

Total High Lots (high estimate above £25000): 16
Total High Estimate: £2400000

The top lot by High estimate is lot 39, Andreas Gursky, Engadin II, 2006, at £500000-700000. (Image at right, middle, via Sotheby's.)

Here is a list of the photographers who are represented by more than one lot in the two sales (with the number of lots in parentheses):

Gilbert & George (4)
Andreas Gursky (4)
Vik Muniz (3)
Cindy Sherman (2)
Thomas Struth (2)
Hiroshi Sugimoto (2)

(Lot 288, Gilbert & George, Black Buds, 1980, at £150000-200000, at right, top, and lot 290, Rashid Rana, What Lies Between Skin and Flesh, 2009, at £50000-70000, at right, bottom, via Sotheby's.)

The complete lot by lot catalogs can be found here (Evening) and here (Day).

Contemporary Art Evening
June 29th

Contemporary Art Day
June 30th

Sotheby's
34-35 New Bond Street
London W1A 2AA

Auction Results: Contemporary Art Evening and Day Sales, May 10 and 11, 2011 @Sotheby's

Sotheby's took a risk by placing so much photographic value on offer in its Contemporary Art sales last week, and for the most part, pulled it off. The Total Sale Proceeds topped $9.5M, near the top end of the pre-sale range. 9 out of 10 of the top lots found buyers, including both top end Gursky prints, one of which crossed the $2M mark. While there weren't many surprises, to source and move this much merchandise was an amazing achievement in and of itself.

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

Total Lots: 58
Pre Sale Low Total Estimate: $7131000
Pre Sale High Total Estimate: $10114000
Total Lots Sold: 44
Total Lots Bought In: 14
Buy In %: 24.14%
Total Sale Proceeds: $9599625
.
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 0
Low Sold: NA
Low Bought In: NA
Buy In %: NA
Total Low Estimate: $0
Total Low Sold: NA

Mid Total Lots: 25
Mid Sold: 20
Mid Bought In: 5
Buy In %: 20.00%
Total Mid Estimate: $744000
Total Mid Sold: $658125
.
High Total Lots: 33
High Sold: 24
High Bought In: 9
Buy In %: 27.27%
Total High Estimate: $9370000
Total High Sold: $8941500
.
The top photography lot by High estimate was lot 9, Andreas Gursky, Rhein I, 1996, at $1000000-1500000; it was also the top outcome of the sale at $2098500.
.

95.45% of the lots that sold had proceeds in or above the estimate range. There were a total of 2 surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 582, Vik Muniz, Dora Maar, After Picasso (Pictures of Pigment), 2007, at $170500 (image at right, top, via Sotheby's)
Lot 592, Cindy Sherman, Untitled #75, 1980, at $122500

Complete lot by lot results can be found here (Evening) and here (Day).

Sotheby's
1334 York Avenue
New York, NY 10021