The results from the Photographs Signature Auction last week at Heritage were generally uneventful. The top lot Robert Mapplethorpe flower print found a buyer below its estimate range, and was tied for the top lot honors with an Ansel Adams moonrise. The overall Buy-In rate inched up near 35%, and with just 1 positive surprise and too many of the lots that did sell doing so below their estimates, the Total Sale Proceeds (of roughly $825K) came in below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 345 |
| Aggregate Pre Sale Low Estimate | $1168800 |
| Aggregate Pre Sale High Estimate | $1803700 |
| Total Lots Sold | 225 |
| Total Lots Bought In | 120 |
| Buy In % | 34.78% |
| Total Sale Proceeds | $824155 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 324 |
| Total Low Lots Sold | 209 |
| Total Low Lots Bought In | 115 |
| Low Buy In % | 35.49% |
| Aggregate High Estimate of Low Lots | $1146700 |
| Total Proceeds from Low Lots | $532593 |
| Mid Total Lots | 18 |
| Total Mid Lots Sold | 14 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 22.22% |
| Aggregate High Estimate of Mid Lots | $447000 |
| Total Proceeds from Mid Lots | $197813 |
| Total High Lots | 3 |
| Total High Lots Sold | 2 |
| Total High Lots Bought In | 1 |
| High Buy In % | 33.33% |
| Aggregate High Estimate of High Lots | $210000 |
| Total Proceeds from High Lots | $93750 |
The top lot by High estimate was lot 73347, Robert Mapplethorpe, Calla Lily, 1988, estimated at $60000-80000; it was also the top outcome of the sale at $50000, tied with lot 73028, Ansel Adams, Moonrise, Hernandez, New Mexico, 1941/1973-1977, estimated at $30000-50000, also sold at $50000 (images above, via Heritage.)
Only 36.89% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Heritage):
Lot 73088, Edward Curtis, An Oasis in the Badlands, 1909/2003, estimated at $2000-3000, sold at $10000
The complete lot by lot results can be found here.
