Auction Results: 20th Century & Contemporary Art Evening, Morning, and Afternoon Sales, May 15 and 16, 2019 @Phillips

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).

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Read more about: Barbara Kruger, Lorna Simpson, Thomas Ruff, Phillips

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