Part of what auction houses do is provide liquidity to the art market, and for this modest single collector sale, Phillips got the job done. With a range of 20th century black-and-white photographs on offer (mostly later prints, and many sold without reserves), the online sale had a Buy-In rate of just under 2%. While there were few surprises, the Total Sale Proceeds (of just under £200K) fell neatly in the middle of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
|Aggregate Pre Sale Low Estimate||£158000|
|Aggregate Pre Sale High Estimate||£241000|
|Total Lots Sold||54|
|Total Lots Bought In||1|
|Buy In %||1.82%|
|Total Sale Proceeds||£196434|
Here is the breakdown (using our typical Low, Mid, and High definitions). Given recent currency fluctuations, we have once again re-adapted our local currency thresholds to match roughly $10000 and $50000 break points between categories.
|Low Total Lots||54|
|Total Low Lots Sold||53|
|Total Low Lots Bought In||1|
|Low Buy In %||1.85%|
|Aggregate High Estimate of Low Lots||£226000|
|Total Proceeds from Low Lots||£190134|
|Mid Total Lots||1|
|Total Mid Lots Sold||1|
|Total Mid Lots Bought In||0|
|Mid Buy In %||0.00%|
|Aggregate High Estimate of Mid Lots||£15000|
|Total Proceeds from Mid Lots||£6300|
|Total High Lots||0|
|Total High Lots Sold||NA|
|Total High Lots Bought In||NA|
|High Buy In %||NA|
|Aggregate High Estimate of High Lots||£0|
|Total Proceeds from High Lots||£0|
The top lot by High estimate was lot 1, Henri Cartier-Bresson, Brie, France, 1968/later, estimated at £10000-15000; it sold at £6300, but it was not the top outcome of the sale. That honor went to lot 22, Terry O’Neill, Faye Dunaway, Hollywood, 1977/later, estimated at £5000-7000, sold at £20160 (image above, via Phillips).
Only 53.70% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 22, Terry O’Neill, Faye Dunaway, Hollywood, 1977/later, estimated at £5000-7000, sold at £20160
Lot 52, Terry O’Neill, Frank Sinatra on the Boardwalk, Miami, 1968/later, estimated at £2000-3000, sold at £7560
The complete lot by lot results can be found here.