Auction Results: 20th Century & Contemporary Art Evening and Day Sales, May 16 and 17, 2023 @Phillips

While there were no photographs included in the evening sale, the photography lots on offer in Phillips’ 20th Century & Contemporary Art day sales in New York earlier this week generally performed as expected. The top lot Felix Gonzales-Torres puzzle prints both sold (one was the top photo outcome of the sales), and with an overall Buy-In rate for photography of roughly 15%, the Total Sale Proceeds for photography (of roughly $720K) fell just below 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 13
Aggregate Pre Sale Low Estimate $500000
Aggregate Pre Sale High Estimate $745000
Total Lots Sold 11
Total Lots Bought In 2
Buy In % 15.38%
Total Sale Proceeds $720090

Here is the breakdown (using our typical Low, Mid, and High definitions):

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 9
Total Mid Lots Sold 8
Total Mid Lots Bought In 1
Mid Buy In % 11.11%
Aggregate High Estimate of Mid Lots $305000
Total Proceeds from Mid Lots $300990
Total High Lots 4
Total High Lots Sold 3
Total High Lots Bought In 1
High Buy In % 25.00%
Aggregate High Estimate of High Lots $440000
Total Proceeds from High Lots $419100

The top photography lot by High estimate was tied between two lots, each estimated at $100000-150000: lot 349, Felix Gonzalez-Torres, “Untitled” (Me and My Sister), 1988, and lot 350, Felix Gonzalez-Torres, “Untitled” (Love Letter From The War Front), 1988. Lot 349 was the top photography outcome of the sales at $241300 (image above, via Phillips), while lot 350 sold at $101600.

81.82% of the lots that sold had proceeds in or above the estimate range and there was just one positive surprise in the sales (defined as having proceeds of at least double the high estimate) (image above, via Phillips):

Lot 183, Gerhard Richter, Untitled (28 Nov 1999), 1999, estimated at $30000-40000, sold at $88900

The complete lot by lot results can be found here (Morning), here (Afternoon) and here (Evening).

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Read more about: Felix Gonzalez-Torres, Gerhard Richter, Phillips

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