A pair of online contemporary art sales at Sotheby’s last week provided the last significant auction opportunities for photography collectors in 2021. The results themselves were largely predictable, with a Barbara Kruger lenticular photograph from the mid-1980s taking the top photo lot honors across the two sales. With a Buy-In rate for photography under 20%, the Total Sale Proceeds for photography (of nearly $450K) came in 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 | 31 |
| Aggregate Pre Sale Low Estimate | $362000 |
| Aggregate Pre Sale High Estimate | $524000 |
| Total Lots Sold | 26 |
| Total Lots Bought In | 5 |
| Buy In % | 16.13% |
| Total Sale Proceeds | $449568 |
Here is the breakdown (using our usual Low, Mid, and High price tier definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 12 |
| Total Low Lots Sold | 10 |
| Total Low Lots Bought In | 2 |
| Low Buy In % | 16.67% |
| Aggregate High Estimate of Low Lots | $88000 |
| Total Proceeds from Low Lots | $62118 |
| Mid Total Lots | 19 |
| Total Mid Lots Sold | 16 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 15.79% |
| Aggregate High Estimate of Mid Lots | $436000 |
| Total Proceeds from Mid Lots | $387450 |
| 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 photography lot by High estimate was lot 148, Carrie Mae Weems, Violet Colored Girl, 1990, estimated at $30000-40000; it sold at $40320. The top photography outcome of the sales was lot 140, Barbara Kruger, Untitled (My hero!/You can dress him up but you can’t take him out), 1986, estimated at $18000-25000, sold at $47880 (image above, via Sotheby’s.)
73.08% of the lots that sold had proceeds in or above the estimate range and there was just one positive surprise in the sales (defined as having proceeds of at least double the high estimate) (images above, via Sotheby’s):
Lot 4, Lucas Samaras, Photo-Transformation, 1973, estimated at $5000-7000, sold at $15120
The complete lot by lot results can be found here (Cramer) and here (Contemporary Art).
