The photography included in Phillips recent 20th Century & Contemporary Art Evening and Day sales generally performed to expectations, with one notable exception. A photographic collage made by Joseph Cornell soared to nearly 6X its pre-sale estimate; what makes that outcome all the more surprising is that the same collage failed to sell against a slightly smaller estimate in a sale at Sotheby’s in 2014. The rest of the outcomes were more predictable, with an overall Buy-In rate for photography under 30% and Total Sale Proceeds that fell in the middle of the aggregate pre-sale range.
The summary statistics are below (all results include the buyer’s premium):
|Aggregate Pre Sale Low Estimate||$1928000|
|Aggregate Pre Sale High Estimate||$2679000|
|Total Lots Sold||17|
|Total Lots Bought In||7|
|Buy In %||29.17%|
|Total Sale Proceeds||$2142000|
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
|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||11|
|Total Mid Lots Sold||9|
|Total Mid Lots Bought In||2|
|Mid Buy In %||18.18%|
|Aggregate High Estimate of Mid Lots||$329000|
|Total Proceeds from Mid Lots||$441500|
|Total High Lots||13|
|Total High Lots Sold||8|
|Total High Lots Bought In||5|
|High Buy In %||38.46%|
|Aggregate High Estimate of High Lots||$2350000|
|Total Proceeds from High Lots||$1700500|
The top lot by High estimate was lot 10, Cindy Sherman, Untitled Film Still #5A, 1977, estimated at $500000-700000 (image in preview post). It was also the top photography outcome of the sales at $461000.
76.47% of the lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate):
Lot 167, Joseph Cornell, Untitled (HÔTEL DE L’ÉTOILE, SUZANNE MILLER), circa 1960, estimated at $35000-45000, sold at $269000 (image above via Phillips).
The complete lot by lot results can be found here (Evening) and here (Day).