The results from Sotheby’s recent Postwar and Contemporary Photographs sale in New York were confidently solid. While there was a little softness in the top lots, the headline Thomas Struth print did sell and the overall Buy-In rate settled in at a respectable 25%. With a handful of positive surprises to pump up the numbers, the Total Sale Proceeds fell into the wide middle of the aggregate pre-sale range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 94 |
| Aggregate Pre Sale Low Estimate | $2103000 |
| Aggregate Pre Sale High Estimate | $3168000 |
| Total Lots Sold | 70 |
| Total Lots Bought In | 24 |
| Buy In % | 25.53% |
| Total Sale Proceeds | $2486125 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 30 |
| Total Low Lots Sold | 20 |
| Total Low Lots Bought In | 10 |
| Low Buy In % | 33.33% |
| Aggregate High Estimate of Low Lots | $250000 |
| Total Proceeds from Low Lots | $166125 |
| Mid Total Lots | 55 |
| Total Mid Lots Sold | 45 |
| Total Mid Lots Bought In | 10 |
| Mid Buy In % | 18.18% |
| Aggregate High Estimate of Mid Lots | $1398000 |
| Total Proceeds from Mid Lots | $1207500 |
| Total High Lots | 9 |
| Total High Lots Sold | 5 |
| Total High Lots Bought In | 4 |
| High Buy In % | 44.44% |
| Aggregate High Estimate of High Lots | $1520000 |
| Total Proceeds from High Lots | $1112500 |
The top lot by High estimate was lot 23, Thomas Struth, Mailänder Dom (Fassade), 1998, estimated at $300000-500000 (image in preview post); it sold for $456500. The top outcome of the sale was lot 62, Philip-Lorca diCorcia, A Storybook Life (The Complete Series), 2003, estimated at $250000-350000, sold at $468500.
87.14% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Sotheby’s):
Lot 1, Thomas Struth, West Broadway, New York, Tribeca, 1978/2000, estimated at $20000-30000, sold at $68750
Lot 31, Thomas Struth, Pflanzen Nr. 22, 35, 67, and 70, 1992-1993, estimated at $10000-15000, sold at $37500
Lot 50, Vito Acconci, Hand & Mouth (Film Stills & Text), 1970, estimated at $8000-12000, sold at $26250
Lot 51, Helena Almeida, Inhabited Drawing, 1975, estimated at $10000-15000, sold at $37500
Lot 87, Roe Ethridge, Thanksgiving 1984 (Table), 2009, estimated at $6000-9000, sold at $20000 (image in preview post)
The complete lot by lot results can be found here.
