3 min read · 29 Oct 2024
Dream House by Gregory Crewdson sold for $50,400. Image courtesy of Rago Arts & Auction Center
A work by Gregory Crewdson was the headline sale at Rago Arts & Auction Center 'Photographs' auction on October 25 in Lambertville.
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).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
21 works were bought-in, including: Cindy Sherman, Untitled (Ants) (1989), estimated at $8,000 (low) to $12,000 (high).
6 works were withdrawn before the sale, including: Ansel Adams, Joe Aguilar, Chanter and Drummer, San Ildefonso, New Mexico (1940) estimated at $1,000 (low) to $2,000 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.