Market dispatch·New York
$1.7M and 63% Sold: Sotheby's Photographs Part II Closes Below Its Low Estimate
Sotheby's Photographs Part II sale in New York, held October 1-9, sold 96 works for $1.7 million, short of its $1.82 million low estimate, with a Helmut Newton image leading at $89,600.

Sotheby's Photographs Part II auction in New York closed with 96 works sold for a combined $1.7 million, landing below the $1.82 million low estimate set before the sale. The event ran from October 1 to 9 and had carried a high estimate of $2.71 million. Of the 152 lots originally announced, 63 percent found buyers, while 55 works went unsold and one was withdrawn ahead of bidding. The top result belonged to Helmut Newton's Nude and Police Dog, St Tropez, a 1975 photograph that brought $89,600, about 28 percent above its $70,000 low estimate. The sale's sharpest over-performance came from a Taryn Simon work, a 2015 document concerning an agreement to develop a Park Hyatt in St. Kitts, which climbed from a $7,000 low estimate to $70,400, more than ten times its low figure. Roughly a quarter of the sold works finished above their high estimates, about two in five landed inside their estimate ranges, and a third sold below the low estimate. No lot in the sale carried a guarantee, and none was offered with an undisclosed estimate. Among the unsold lots was Danny Lyon's Civil Rights Master Portfolio, a group of prints from 1962 to 1964 produced in 2010 that had been estimated at $50,000 to $70,000. A work by Michal Rovner, Shift II and III from 2000, estimated at $8,000 to $12,000, was pulled before the sale. The mixed outcome points to a selective market for photographs at this price level, where standout images still drew competition while much of the middle of the sale struggled to clear its reserves.


