The large scale color abstractions of Wolfgang Tillmans continued to climb the price ladder at Phillips’ recent 20th Century and Contemporary Art sales in London, with yet another record breaker last week. The rest of the photography available in the two sales performed to expectations, with a reasonable Buy-In rate of just of 15% and a couple of positive surprises. In the end, the Total Sale Proceeds for photography fell at the top of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 26 |
| Aggregate Pre Sale Low Estimate | £1084000 |
| Aggregate Pre Sale High Estimate | £1604000 |
| Total Lots Sold | 22 |
| Total Lots Bought In | 4 |
| Buy In % | 15.38% |
| Total Sale Proceeds | £1614000 |
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 | £5000 |
| Total Proceeds from Low Lots | £7500 |
| Mid Total Lots | 12 |
| Total Mid Lots Sold | 11 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 8.33% |
| Aggregate High Estimate of Mid Lots | £139000 |
| Total Proceeds from Mid Lots | £191500 |
| Total High Lots | 13 |
| Total High Lots Sold | 10 |
| Total High Lots Bought In | 3 |
| High Buy In % | 23.08% |
| Aggregate High Estimate of High Lots | £1460000 |
| Total Proceeds from High Lots | £1415000 |
The top photography lot by High estimate was tied between two lots: lot 2, Wolfgang Tillmans, Freischwimmer #84, 2004, and lot 3, Richard Prince, Untitled (Cowboy), 1992, both estimated at £200000-300000. The top photographic outcome of the sales was the Tillmans print at £605000 (image above, via Phillips), while the Prince print sold at £245000.
95.45% of the lots that sold had proceeds in or above the estimate range and there were 4 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 2, Wolfgang Tillmans, Freischwimmer #84, 2004, estimated at £200000-300000, sold at £605000
Lot 286, Andres Serrano, Hercules punishing Diomedes (part I and II), 1991, estimated at £15000-20000, sold at £45000
Lot 296, Gerhard Richter, Haggadah (P2), 2006/2014, estimated at £6000-8000, sold at £27500
Lot 297, Gerhard Richter, CR 724-4 (P1), 1990/2014, estimated at £6000-8000, sold at £25000
The complete lot by lot results can be found here (Evening) and here (Day).
