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October 21, 2007

Photography Auctions... treding water...??

So... last week while the Stock market was crashing falling... The major NYC auction houses held their fall photo auctions.

We're sad to say.. MAO bought noting!! Maybe, restraint is the better part of valor!!

So, There were some stupid high prices, as well as some bargains. It was also nice to see some MAO favorite artists work being well bid by wise collectors.

Strong results were all observed for.. Larry Clark (a Tulsa portfolio sold for $66k), Andre Kertesz, Herb Ritts, Abe Morell, Robert Mapplethrope, Matthew Pillsbury, Alec Soth, Massimo Vitali, and Nan Goldin.

Diane_arbus_the_king_and_queens_of_ Also noticeable...

The regular food fight bidding on work by Robert Frank, Richard Misrach, Gregory Crewdson,

and Diane Arbus (photo 1, Lot 95, Diane Arbus, The King and Queen of a Senior Citizens Dance, NYC, 1970.. sold for $36k) works..

seemed a bit less over heated.

Well..it's about time!!

But no NYC art auction would be complete without it's stupid high bids. It would

seem Irving Penn work still manages to sell at crazy high prices Lot 136 sold for $102,000...

Loretta_lux_girl_with_crossed_arms_ As did a small Loretta Lux..which just sold at the shocking price of $36,000 (photo #2, Lot 210, Loretta Lux, Girl with Crossed Arms, 2001),

also, 2 Ruud Van Empel's (one sold for a whopping $45,600),

Cindy Sherman ($300,000), and a

Hiroshi Sugimoto ($336,000).

It was also curious to note, the "Buy-In rate", the lots that didn't make it to the minimum bid.. was a bit higher than last year... almost 21% at Phillips.

Hmm signs of the market cracking..? Maybe?

or have collectors finally come to their senses and stopped buying just any old crap all the brand new untested art the auction houses keep putting up on the block?   

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Hi Mike,
I think the Loretta Lux that sold at auction was the large size b/c it was only and Edition of 7. In Germany in June 07, Troll 3 in the large size sold for $31,000 Hammer!
See you soon!

Things are cooling for a reason- prices are out of whack. The auction prices are at or above retail gallery prices for many artists.

Wow! How much was retail for the Lux last year? I think I remember 9k? But don't remember if that was for the 15 in. prints. Maybe she's not quite a flash in the pan? Still don't know how much I like it... but it's very easily identifiable while a lot of photography still isn't.

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