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).
