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).
