Auction Results: 20th Century & Contemporary Art Evening and Day Sales, May 17 and 18, 2017 @Phillips

The contemporary photography included in Phillips’ recent 20th Century & Contemporary Art sales in New York generally performed to expectations. While there was some softness in the higher priced lots (as evidenced by the 41% Buy-In rate in the top price tier), there was just enough momentum to push the Total Sale Proceeds for photography safely into the middle of the 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 $1583000
Aggregate Pre Sale High Estimate $2271000
Total Lots Sold 22
Total Lots Bought In 9
Buy In % 29.03%
Total Sale Proceeds $1778250

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

Detailed Breakdown
Low Total Lots 2
Total Low Lots Sold 2
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots $17000
Total Proceeds from Low Lots $48750
Mid Total Lots 12
Total Mid Lots Sold 10
Total Mid Lots Bought In 2
Mid Buy In % 16.67%
Aggregate High Estimate of Mid Lots $314000
Total Proceeds from Mid Lots $312500
Total High Lots 17
Total High Lots Sold 10
Total High Lots Bought In 7
High Buy In % 41.18%
Aggregate High Estimate of High Lots $1940000
Total Proceeds from High Lots $1417000

The top photography lot by High estimate was lot 166, Richard Prince, Untitled (Cowboy), 1989, estimated at $250000-350000 (image in preview post). It was also the top photography outcome of the sales at $370000.

90.91% of the lots that sold had proceeds in or above the estimate range and there were a total of 3 positive surprises in the sales (defined as having proceeds of at least double the high estimate): (images above via Phillips)

Lot 22, Wolfgang Tillmans, quiet mind, 2005, estimated at $70000-100000, sold at $322000

Lot 235, Laurie Simmons, Bending Globe, 1991, estimated at $25000-35000, sold at $77500

Lot 285, Gerhard Richter, Haggadah (P2), 2014, estimated at $7000-10000, sold at $43750

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

Send this article to a friend

Read more about: Gerhard Richter, Laurie Simmons, Wolfgang Tillmans, Phillips

Leave a comment

Your email address will not be published.

Recent Articles

Tarrah Krajnak, El Jardín de Senderos Que Se Bifurcan

Tarrah Krajnak, El Jardín de Senderos Que Se Bifurcan

JTF (just the facts): Published in 2021 by Dais Books (here). Softcover foil-stamped raw chipboard slipcase (9 x 11 inches), 116 pages with booklet insert, with 54 plates. Includes texts ... Read on.

Sign up for our weekly email newsletter