Gregory Crewdson Leads Rago Arts & Auction Center $689,900 'Photographs' Auction in Lambertville

A work by Gregory Crewdson was the headline sale at Rago Arts & Auction Center 'Photographs' auction on October 25 in Lambertville.

• The sale totaled $689,900, meeting the pre-sale estimate.

Snapshot of the sale

• 155 works sold totaling $689,900.
• Estimates totaled: $595,500 (low) and $868,700 (high), excluding premiums.
• The sell-through rate was 85% of the original 182 lots announced.

The star lot was: Gregory Crewdson, Dream House (2002), which sold for $50,400, 28% below its $70,000 low estimate.

The outperformer sold for 686% above its low estimate. Dziga Vertov, The Man with the Movie Camera (1932), sold for $5,502 ($700 low estimate).

• 46 works, or 30%, sold above their high estimate.
• 48 works, or 31%, sold within their low and high estimate.
• 61 works, or 39%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

21 works were bought-in, including: Cindy Sherman, Untitled (Ants) (1989), estimated at $8,000 (low) to $12,000 (high).

Withdrawn before the sale

6 works were withdrawn before the sale, including: Ansel Adams, Joe Aguilar, Chanter and Drummer, San Ildefonso, New Mexico (1940) estimated at $1,000 (low) to $2,000 (high).

Terms and definitions

All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Sale prices are compared to the auction house’s low estimate, which do not include premiums.

Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.

Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.

Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.

Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.