Auction Results: 20th Century & Contemporary Art Evening and Day Sales, June 29 and 30, 2017 @Phillips London

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).

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Read more about: Andres Serrano, Gerhard Richter, Wolfgang Tillmans, Phillips

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