All fourteen items in the above $50K high estimate range in the recent single owner collection sale at Phillips found buyers, and when momentum like that builds up, the rest of the sale usually takes care of itself. With an overall Buy-In rate under 30% and plenty of positive surprises to push the numbers higher, the Total Sale Proceeds came in just above the middle of the aggregate pre-sale estimate.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 82 |
| Aggregate Pre Sale Low Estimate | $1727700 |
| Aggregate Pre Sale High Estimate | $2596300 |
| Total Lots Sold | 59 |
| Total Lots Bought In | 23 |
| Buy In % | 28.05% |
| Total Sale Proceeds | $2242125 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 26 |
| Total Low Lots Sold | 17 |
| Total Low Lots Bought In | 9 |
| Low Buy In % | 34.62% |
| Aggregate High Estimate of Low Lots | $170300 |
| Total Proceeds from Low Lots | $133375 |
| Mid Total Lots | 42 |
| Total Mid Lots Sold | 28 |
| Total Mid Lots Bought In | 14 |
| Mid Buy In % | 33.33% |
| Aggregate High Estimate of Mid Lots | $1011000 |
| Total Proceeds from Mid Lots | $770000 |
| Total High Lots | 14 |
| Total High Lots Sold | 14 |
| Total High Lots Bought In | 0 |
| High Buy In % | 0.00% |
| Aggregate High Estimate of High Lots | $1415000 |
| Total Proceeds from High Lots | $1338750 |
The top lot by High estimate was lot 21, Richard Avedon, Marilyn Monroe, New York City, May 6, 1957, estimated at $200000-300000; it was also the top outcome of the sale at $250000 (image above via Phillips).
94.92% of the lots that sold had proceeds in or above the estimate range and there were a total of 9 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 5, Richard Avedon, W.H. Auden, poet, St. Marks Place, New York City, 1960/1994, estimated at $15000-25000, sold at $75000
Lot 9, Francesca Woodman, Providence, Rhode Island, 1976, estimated at $40000-60000, sold at $125000
Lot 10, Diane Arbus, Woman at a counter smoking, NYC, 1962/later, estimated at $8000-12000, sold at $32500
Lot 16, Irving Penn, Three Squatting Sisters, Nepal, 1967/1971, estimated at $8000-12000, sold at $43750
Lot 18, Lotte Jacobi, Albert Einstein, Physicist, Princeton, NJ, 1938/later, estimated at $1200-1800, sold at $5000
Lot 22, Irving Penn, Joseph Brodsky, New York, 1980, estimated at $10000-15000, sold at $32500
Lot 36, Harry Diamond, Francis Bacon and Lucien Freud in Dean St. Soho, 1973, estimated at $2000-3000, sold at $6875
Lot 39, Shomei Tomatsu, Hibakusha Shimotani Tomitaro, Nagasaki from Nagasaki 11:02, 1961/1980, estimated at $7000-9000, sold at $18750
Lot 43, Garry Winogrand, Democratic National Convention, 1960/later, estimated at $10000-15000, sold at $30000
The complete lot by lot results can be found here.
