Auction Results: A Classic Vision: Photographs from A Private European Collection, November 23, 2022 @Phillips London (online)

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):

Summary Statistics
Total Lots 55
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.

Detailed Breakdown
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.

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