The photography included in Phillips’ recent 20th Century & Contemporary Art sales in New York was clustered in the Afternoon session, but this placement didn’t prevent the works from performing respectably. With an overall Buy-In rate under 14%, the Total Sale Proceeds for photography (of roughly $1.1M) found the upper half of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 30 |
| Aggregate Pre Sale Low Estimate | $899000 |
| Aggregate Pre Sale High Estimate | $1297000 |
| Total Lots Sold | 26 |
| Total Lots Bought In | 4 |
| Buy In % | 13.33% |
| Total Sale Proceeds | $1168750 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 1 |
| Total Low Lots Sold | 1 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $9000 |
| Total Proceeds from Low Lots | $13750 |
| Mid Total Lots | 22 |
| Total Mid Lots Sold | 19 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 13.64% |
| Aggregate High Estimate of Mid Lots | $548000 |
| Total Proceeds from Mid Lots | $492500 |
| Total High Lots | 7 |
| Total High Lots Sold | 6 |
| Total High Lots Bought In | 1 |
| High Buy In % | 14.29% |
| Aggregate High Estimate of High Lots | $740000 |
| Total Proceeds from High Lots | $662500 |
The top photography lot by High estimate was lot 355, Barbara Kruger, Tears, 2012, estimated at $200000-300000; it was also the photography top outcome of the sale at $300000 (image above, via Phillips.)
96.15% of the lots that sold had proceeds in or above the estimate range and there were just 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate): (images above via Phillips)
Lot 418, Thomas Ruff, Nudes fn 06, 2001, estimated at $15000-20000, sold at $43750
Lot 432, Lorna Simpson, Corridor (Night), 2003, estimated at $10000-15000, sold at $47500
The complete lot by lot results can be found here (Evening), here (Morning), and here (Afternoon).
