The results of the recent Photographs sale at Doyle in New York generally met expectations. The top lot Annie Leibovitz portrait sold above its estimate range, and with an overall Buy-In rate under 25% and a handful of positive surprises, the Total Sale Proceeds (of just under $200K) fell squarely in the middle of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 100 |
| Aggregate Pre Sale Low Estimate | $172800 |
| Aggregate Pre Sale High Estimate | $271100 |
| Total Lots Sold | 76 |
| Total Lots Bought In | 24 |
| Buy In % | 24.00% |
| Total Sale Proceeds | $198349 |
Here is the breakdown (using our typical Low, Mid, and High price range definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 98 |
| Total Low Lots Sold | 74 |
| Total Low Lots Bought In | 24 |
| Low Buy In % | 24.49% |
| Aggregate High Estimate of Low Lots | $228600 |
| Total Proceeds from Low Lots | $163699 |
| Mid Total Lots | 2 |
| Total Mid Lots Sold | 2 |
| Total Mid Lots Bought In | 0 |
| Mid Buy In % | 0.00% |
| Aggregate High Estimate of Mid Lots | $42500 |
| Total Proceeds from Mid Lots | $34650 |
| Total High Lots | 0 |
| Total High Lots Sold | NA |
| Total High Lots Bought In | NA |
| High Buy In % | NA |
| Aggregate High Estimate of High Lots | $0 |
| Total Proceeds from High Lots | $0 |
The top lot by High estimate was lot 2057, Annie Leibovitz, Dan Akroyd and John Belushi [Blues Brothers], 1978, estimated at $15000-25000; it was also the top outcome of the sale at $28350 (image above, via Doyle).
Only 59.21% of the lots that sold had proceeds in or above the estimate range and there were a total of 6 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Doyle):
Lot 2006, William Anders, Earthrise, as photographed from the Apollo 8 command module, 24 December 1968, and other ephemera, 1968, estimated at $100-2500, sold at $5355
Lot 2010, Thomas Barrow, Technology Transfer, 1980, estimated $200-300, sold at $819
Lot 2022, Julie Blackmon, Cherry, 2006, estimated at $1500-2500, sold at $5355
Lot 2023, Julie Blackmon, Lost Mitten, 2010, estimated at $700-1000, sold at $3465
Lot 2045, Edward Curtis, Party of Indians, c1900; Water Carriers, Hopi, 1900; Navajo Man, c1900, estimated at $800-1200, sold at $2520
Lot 2099, Brett Weston, Untitled [Landscape, Germany], 1960, estimated at $800-1200, sold at $2520
The complete lot by lot results can be found here.
