Auction Results: 20th Century & Contemporary Art Evening and Day Sales, March 8 and 10, 2017 @Phillips London

The photography in Phillips’ recent 20th Century and Contemporary Art sales in London generally met expectations. A water tower typology by Bernd and Hilla Becher provided the most energy, jumping to nearly £300K. Otherwise, things went mostly according to plan, with an overall Buy-In rate for photography near 30% and a just a few positive surprises. In the end, the Total Sale Proceeds fell squarely in the middle of the aggregate pre-sale estimate range.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 31
Aggregate Pre Sale Low Estimate £1296000
Aggregate Pre Sale High Estimate £1874000
Total Lots Sold 22
Total Lots Bought In 9
Buy In % 29.03%
Total Sale Proceeds £1491125

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 0
Total Low Lots Sold NA
Total Low Lots Bought In NA
Low Buy In % NA
Aggregate High Estimate of Low Lots £0
Total Proceeds from Low Lots £0
Mid Total Lots 15
Total Mid Lots Sold 10
Total Mid Lots Bought In 5
Mid Buy In % 33.33%
Aggregate High Estimate of Mid Lots £274000
Total Proceeds from Mid Lots £199375
Total High Lots 16
Total High Lots Sold 12
Total High Lots Bought In 4
High Buy In % 25.00%
Aggregate High Estimate of High Lots £1600000
Total Proceeds from High Lots £1291750

The top photography lot by High estimate was lot 9, Barbara Kruger, Untitled (Our Time is Your Money), 1985, estimated at £250000-350000; it sold at £269000 (image in preview post). The top photographic outcome was lot 10, Bernd and Hilla Becher, Water Towers, 1965-1997, estimated at £120000-180000, sold at £293000 (image in preview post).

95.45% of the lots that sold had proceeds in or above the estimate range and there were two positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above via Phillips):

Lot 171, Robert Longo, Untitled from Men In The Cities (Cindy), 1981-1998, estimated at £5000-7000, sold at £15000

Lot 279, Gerhard Richter, Bouquet (P3), 2009, estimated at £4000-6000, sold at £17500

The complete lot by lot results can be found here (Evening) and here (Day).

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Read more about: Bernd and Hilla Becher, Gerhard Richter, Robert Longo, Phillips

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