The photography included in Phillips’ 20th Century & Contemporary Art sales in New York last week didn’t deviate much from expectations. The top lot Thomas Struth view of Notre Dame found a buyer within its estimate range, but too many passes in the top price tier (and an overall Buy-In rate for photography of over 31%) kept the results from heating up. In the end, the Total Sale Proceeds for photography (of just over $750K) fell below the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 22 |
| Aggregate Pre Sale Low Estimate | $1023000 |
| Aggregate Pre Sale High Estimate | $1512000 |
| Total Lots Sold | 15 |
| Total Lots Bought In | 7 |
| Buy In % | 31.82% |
| Total Sale Proceeds | $758375 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 2 |
| Total Low Lots Sold | 2 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | $14000 |
| Total Proceeds from Low Lots | $11500 |
| Mid Total Lots | 11 |
| Total Mid Lots Sold | 8 |
| Total Mid Lots Bought In | 3 |
| Mid Buy In % | 27.27% |
| Aggregate High Estimate of Mid Lots | $267000 |
| Total Proceeds from Mid Lots | $144375 |
| Total High Lots | 9 |
| Total High Lots Sold | 5 |
| Total High Lots Bought In | 4 |
| High Buy In % | 44.44% |
| Aggregate High Estimate of High Lots | $1240000 |
| Total Proceeds from High Lots | $565000 |
The top photography lot by High estimate was lot 19, Thomas Struth, Notre Dame, Paris, 2000, estimated at $300000-500000; it was also the top photography outcome of the sales at $400000 (image above, via Phillips).
80.00% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sales (defined as having proceeds of at least double the high estimate).
The complete lot by lot results can be found here (Evening), here (Morning), and here (Afternoon).
