The 2016 auction season for photography got off to a rather muted start last week at Phillips. While the top photo lot Cory Arcangel print did sell, the overall action was relatively soft. With only 2 positive surprises among the photographs on offer and a number of lower priced lots selling below their estimate ranges, the Total Sale Proceeds limped in under the aggregate pre-sale range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 24 |
| Aggregate Pre Sale Low Estimate | £581000 |
| Aggregate Pre Sale High Estimate | £845000 |
| Total Lots Sold | 18 |
| Total Lots Bought In | 6 |
| Buy In % | 25.00% |
| Total Sale Proceeds | £516876 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 1 |
| Total Low Lots Sold | 1 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | £2000 |
| Total Proceeds from Low Lots | £1250 |
| Mid Total Lots | 15 |
| Total Mid Lots Sold | 13 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 13.33% |
| Aggregate High Estimate of Mid Lots | £213000 |
| Total Proceeds from Mid Lots | £185626 |
| Total High Lots | 8 |
| Total High Lots Sold | 4 |
| Total High Lots Bought In | 4 |
| High Buy In % | 50.00% |
| Aggregate High Estimate of High Lots | £630000 |
| Total Proceeds from High Lots | £330000 |
The top photography lot by High estimate was lot 46, Cory Arcangel, Photoshop CS: 110 by 72 inches, 300 DPI, RGB, square pixels, default gradient “Spectrum”…, 2009, estimated at £120000-180000; it was also the top outcome of the two sales at £140500 (image in preview post).
66.67% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 178, Seth Price, Eight Photographs, 2007, estimated at £15000-20000, sold at £40000
Lot 267, Shirin Neshat, Speechless, 1996, estimated at £10000-15000, sold at £32500
The complete lot by lot results can be found here (Evening) and here (Day).
