Aside from weakness in the top price tier, where both lots failed to sell, the Fine Photographs sale at Swann last week generally performed to expectations. The overall Buy-In rate was a bit too high (topping 32%), but a number of positive surprises helped counteract the passed lots. In the end, the Total Sale Proceeds (of just over $1M) came in just 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 | 316 |
| Aggregate Pre Sale Low Estimate | $1177600 |
| Aggregate Pre Sale High Estimate | $1739900 |
| Total Lots Sold | 212 |
| Total Lots Bought In | 104 |
| Buy In % | 32.91% |
| Total Sale Proceeds | $1032524 |
Here is the breakdown (using our typical Low, Mid, and High price range definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 289 |
| Total Low Lots Sold | 191 |
| Total Low Lots Bought In | 98 |
| Low Buy In % | 33.91% |
| Aggregate High Estimate of Low Lots | $1101900 |
| Total Proceeds from Low Lots | $684899 |
| Mid Total Lots | 25 |
| Total Mid Lots Sold | 21 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 16.00% |
| Aggregate High Estimate of Mid Lots | $468000 |
| Total Proceeds from Mid Lots | $347625 |
| Total High Lots | 2 |
| Total High Lots Sold | 0 |
| Total High Lots Bought In | 2 |
| High Buy In % | 100.00% |
| Aggregate High Estimate of High Lots | $170000 |
| Total Proceeds from High Lots | $0 |
The top lot by High estimate was lot 69, Edward Weston, Shells, 1927/1940s, estimated at $70000-100000; it did not sell. The top outcome of the sale was ltied between three lots, each selling at $32500: lot 1, Julia Margaret Cameron, Maria Spartali, 1868, estimated at $6000-9000, lot 76, Ansel Adams, Thunderstorm, Yosemite, California, 1945/1979, estimated at $20000-30000, and lot 123, Danny Lyon, Portfolio titled The Destruction of Lower Manhattan (77 prints), 1967/2005, estimated at $20000-30000 (images above, via Swann).
75.47% of the lots that sold had proceeds in or above the estimate range and there were a total of 10 positive surprises in the sale (defined as having proceeds of at least double the high estimate)(images above via Swann):
Lot 1, Julia Margaret Cameron, Maria Spartali, 1868, estimated at $6000-9000, sold at $32500
Lot 10, William Henry Jackson,The North Dome, Royal Arches, and Washington Column / The South Dome Yosemite, c1889, estimated at $6000-9000, sold at $18750
Lot 12, James J. Williams, An album with 24 photographs of Hawaii, including Princess Kaiulani, surfers, landscapes, cityscapes, agricultural scenes, and more, 1890s, estimated at $2500-3500, sold at $7500
Lot 44, W. Eugene Smith, Baby boy on railroad track, 1954, estimated at $2000-3000, sold at $6000
Lot 152, Art Shay, Poole’s Healing Services, Chicago, 1962/late 1970s, estimated at $600-900, sold at $3500
Lot 164, Edward Weston, Dancer in front of a silver screen, Glendale Studio, c1921, estimated at $5000-7500, sold at $16250
Lot 186, Jim French, Kirk Egans (Crouched nude figure), 1987/c1992, estimated at $1000-1500, sold at $3000
Lot 227, Edward Weston, Portrait of the artist Frank Geritz, 1922, estimated at $5000-7500, sold at $25000
Lot 267, (CHANTERELLE MENUS), A pair of benefit menus with photographs by Cindy Sherman and Lorna Simpson, 1989, 1990, estimated at $1000-1500, sold at $5000
Lot 284, Arthur Tress, The Dream Collection portfolio (12 prints), 1968-1975, estimated at $4000-6000, sold at $16250
The complete lot by lot results can be found here.
