Auction Results: Carte Blanche and Contemporary Art, Parts I and II, November 8 and 9, 2010 @Phillips

Phillips opened the Fall Contemporary Art season in New York last week with a photographic bang, selling Cindy Sherman’s Untitled #153 for $2770500, a new record for the artist and the highest price achieved for a photograph at auction so far in 2010. A second Sherman more than doubled its high estimate to add fuel to the fire. Add a few more positive surprises, and the Total Sale Proceeds for photography covered the high estimate with room to spare.

The summary statistics are below (all results include the buyer’s premium):
Total Lots: 88
Pre Sale Low Total Estimate: $5344500
Pre Sale High Total Estimate: $7804500
Total Lots Sold: 61
Total Lots Bought In: 27
Buy In %: 30.68%
Total Sale Proceeds: $7939875
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):
Low Total Lots: 29
Low Sold: 20
Low Bought In: 9
Buy In %: 31.03%
Total Low Estimate: $194500
Total Low Sold: $164500
Mid Total Lots: 46
Mid Sold: 30
Mid Bought In: 16
Buy In %: 34.78%
Total Mid Estimate: $1100000
Total Mid Sold: $640625
High Total Lots: 13
High Sold: 11
High Bought In: 2
Buy In %: 15.38%
Total High Estimate: $6510000
Total High Sold: $7134750
The top photography lot by High estimate was lot 14, Cindy Sherman, Untitled #153, 1985, at $2000000-3000000; it was also the top outcome of the sale at $2770500. (Image at right, top, via Phillips.)
88.52% of the lots that sold had proceeds in or above the estimate range. There were a total of 7 surprises in these sales (defined as having proceeds of at least double the high estimate):
Lot 17, Thomas Schütte, Old Friends, 1993, at $962500 (image at right, middle, via Phillips)
Lot 19, Cindy Sherman, Untitled #420, 2004, at $1426500
Lot 33, Matthew Day Jackson, The Lower 48, 2006, at $410500
Lot 275, Roe Ethridge, Cove Corners, Wellfleet, MA, 2005, at $20000
Lot 276, Sharon Core, Boston Creams, 2004, at $16250 (image at right, bottom, via Phillips)
Lot 445, Dash Snow, Untitled (Why Grow Old), 2007, at $16875
Lot 523, Frank Thiel, Stadt 10/04 (Berlin), 2000, at $35000
Complete lot by lot results can be found here (Carte Blanche), here (Part I) and here (Part II).
450 Park Avenue
New York, NY 10022
450 West 15th Street
New York, NY 10011

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