While the photographic Robert Rauschenberg work which was the top photography lot in Phillips’ recent 20th Century and Contemporary Art sales in New York didn’t find a buyer, the rest of the photography on offer largely tracked to expectations. With an overall Buy-In rate for photography under 30% and a couple of positive surprises, the Total Sale Proceeds managed to clock in just under the low end of the pre-sale aggregate estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 21 |
| Aggregate Pre Sale Low Estimate | $1013000 |
| Aggregate Pre Sale High Estimate | $1509000 |
| Total Lots Sold | 15 |
| Total Lots Bought In | 6 |
| Buy In % | 28.57% |
| Total Sale Proceeds | $968750 |
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 | NA |
| Mid Total Lots | 14 |
| Total Mid Lots Sold | 11 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 21.43% |
| Aggregate High Estimate of Mid Lots | $389000 |
| Total Proceeds from Mid Lots | $466250 |
| Total High Lots | 7 |
| Total High Lots Sold | 4 |
| Total High Lots Bought In | 3 |
| High Buy In % | 42.86% |
| Aggregate High Estimate of High Lots | $1120000 |
| Total Proceeds from High Lots | $502500 |
The top photography lot by High estimate was lot 142, Robert Rauschenberg, Deepend (Scenario), 2006, estimated at $300000-500000 (image in preview post); it did not sell. The top photography outcome was lot 132, Bernd & Hilla Becher, Water Towers, 1988, estimated at $80000-120000, sold at $156250 (image in preview post).
93.33% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate): (images above via Phillips)
Lot 196, Sigmar Polke, Untitled, 1975, estimated at $35000-45000, sold at $150000
Lot 214, Matthew Barney, Cremaster 4: Field of the Ascending Faerie (Diptych), 1994, estimated at $20000-30000, sold at $75000
The complete lot by lot results can be found here (Evening) and here (Day).
