Auction Results: 20th Century & Contemporary Art Evening and Day Sales, November 9 and 10, 2015 @Phillips

While the overall Buy-In rate for photography found its way to over 35% at Phillips’ recent 20th Century & Contemporary Art Evening and Day Sales (usually a bad sign), the auctions held on and found their way to the low end of the aggregate pre-sale estimate range. The sale of the top lot Cindy Sherman print helped, as did the continued strength of Gerhard Richter’s photo-based editions.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 37
Aggregate Pre Sale Low Estimate $1722000
Aggregate Pre Sale High Estimate $2439000
Total Lots Sold 24
Total Lots Bought In 13
Buy In % 35.14%
Total Sale Proceeds $1757750

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

Detailed Breakdown
Low Total Lots 6
Total Low Lots Sold 5
Total Low Lots Bought In 1
Low Buy In % 16.67%
Aggregate High Estimate of Low Lots $41000
Total Proceeds from Low Lots $31500
Mid Total Lots 23
Total Mid Lots Sold 14
Total Mid Lots Bought In 9
Mid Buy In % 39.13%
Aggregate High Estimate of Mid Lots $478000
Total Proceeds from Mid Lots $390000
Total High Lots 8
Total High Lots Sold 5
Total High Lots Bought In 3
High Buy In % 37.50%
Aggregate High Estimate of High Lots $1920000
Total Proceeds from High Lots $1336250

The top photography lot by High estimate was lot 8, Cindy Sherman, Untitled Film Still (#36), 1979, estimated at $600000-800000; it was also the top outcome of the sale at $701000. (image in preview post)

91.67% 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 196, Masahisa Fukase, Kanazawa (SP-025), 1977, estimated at $12000-18000, sold at $40000 (image in preview post)

Lot 294, Gerhard Richter, Haggadah (P2), 2014, estimated at $10000-12000, sold at $43750

Lot 295, Gerhard Richter, Abstraktes Bild (P1), 2014, estimated at $12000-18000, sold at $56250

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

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Read more about: Gerhard Richter, Masahisa Fukase, Phillips

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