Auction Results: 20th Century & Contemporary Art Evening and Day Sales, October 5 and 6, 2017 @Phillips London

The photography results from Phillips’ recent 20th Century and Contemporary Art sales in London were largely driven by the performance of a single nighttime skyline print of Los Angeles by Andreas Gursky. With a successful sale within its lofty estimate range, and supported by yet another solid outcome for a Wolfgang Tillmans abstraction, the rest of the details hardly mattered. While the overall Buy-In rate for photography neared 40% and there was only 1 positive surprise, the Total Sale Proceeds for photography still easily fell into the middle of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 28
Aggregate Pre Sale Low Estimate £2130000
Aggregate Pre Sale High Estimate £2868000
Total Lots Sold 17
Total Lots Bought In 11
Buy In % 39.29%
Total Sale Proceeds £2532500

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 £0
Mid Total Lots 16
Total Mid Lots Sold 11
Total Mid Lots Bought In 5
Mid Buy In % 31.25%
Aggregate High Estimate of Mid Lots £198000
Total Proceeds from Mid Lots £148500
Total High Lots 12
Total High Lots Sold 6
Total High Lots Bought In 6
High Buy In % 50.00%
Aggregate High Estimate of High Lots £2670000
Total Proceeds from High Lots £2384000

The top photography lot by High estimate was lot 24, Andreas Gursky, Los Angeles, 1998-1999, estimated at £1400000-1800000 (image in preview post); it was also the top photography outcome of the sales at £1689000.

95.12% 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) (images above via Phillips):

Lot 183, Andres Serrano, Cabeza de Vaca, 1984, estimated at £5000-7000, sold at £18750

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

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