Global Auction Record: The Most Expensive Photograph

After the slump of the Covid-19 pandemic, nobody can argue that the auction world is back with a bang! Yesterday saw a number of global auction records smashed in astounding fashion:

On 9th November Christie’s New York was tasked with the honour of selling the art collection of Microsoft co-founder, Paul Allen, in the first of a two-part sale. As one of the wealthiest people on the planet, and a keen investor, Allen’s art collection grew to contain some of the most lauded names in the art world, from Cezanne to Freud and Georgia O’Keeffe. 

But his collection wasn’t exclusive to paintings, the portfolio also contained a number of photographs from artists such as Andreas Gursky, Thomas Struth and Man Ray. On Wednesday, the first auction took place, earning a record-breaking $1.5 billion in sales, with records for multiple artists and the most number of lots to sell for over $100 million. 

In the sale, was a single photograph; The Flatiron, a gum-bichromate platinum print by renowned photographer Edward Steichen, captured in 1904. The lot was estimated to bring in $2,000,000-$3,000,000, which would easily see the print not only become the most expensive photographic lot this year but reach the top 20 or top 10 most expensive photographs ever sold. 

When the gavel sounded, the 19”x14.75” print had reached an impressive $11,840,000, making it the most expensive photograph to ever sell at auction. The title was previously held by Andreas Gursky’s Rhine II which claimed the top spot for 11 years with a sales price of $4,338,500. This new record outperforms the former by $7,501,500.

This isn’t the first time Steichen’s work has claimed the top spot. In 2006 The Pond – Moonlight gained the title of the most expensive photograph sold at auction by earning a hammer price of $2,928,000. 16 years later Steichen is back on top, breaching the $10 million mark by some margin.

The auction continues today with a further six photographs on offer with estimates ranging from $30,000 to $500,000. View lots here, or stay tuned for auction results here. Also browse our Top 20 Most Expensive Photographs Sold At Auction.

feature image: Juliette Contin