Auction Results: Contemporary Art and Design Evening and Under the Influence, March 7 and 8, 2013 @Phillips New York

The results for the photographs buried in Phillips’ two Armory week sales were generally as expected: the Buy-In rate for photography was under 30% and the Total Sale Proceeds for photography cleared the aggregate low estimate.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 86
Aggregate Pre Sale Low Estimate $1412000
Aggregate Pre Sale High Estimate $2002000
Total Lots Sold 62
Total Lots Bought In 24
Buy In % 27.91%
Total Sale Proceeds $1491150

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 31
Total Low Lots Sold 20
Total Low Lots Bought In 11
Low Buy In % 35.48%
Aggregate High Estimate of Low Lots $232000
Total Proceeds from Low Lots $184375
Mid Total Lots 46
Total Mid Lots Sold 35
Total Mid Lots Bought In 11
Mid Buy In % 23.91%
Aggregate High Estimate of Mid Lots $1040000
Total Proceeds from Mid Lots $789775
Total High Lots 9
Total High Lots Sold 7
Total High Lots Bought In 2
High Buy In % 22.22%
Aggregate High Estimate of High Lots $730000
Total Proceeds from High Lots $517000

The top photography lot by High estimate was lot 21, Richard Prince, Untitled (Massage), 1980-1981, estimated at $100000-150000; it sold for $146500.

87.10% of the lots that sold had proceeds in or above the estimate range. There were a total of 4 surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 133, Slater Bradley, Factory Ikon, 2007, estimated at $6000-8000, sold at $16250

Lot 134, Slater Bradley, Boulevard of Broken Dreams (Perine 02), 2009, estimated at $6000-8000, sold at $18750 (image at right, bottom, via Phillips)

Lot 267, Larry Sultan, Sharon Wild (from The Valley series), 2001, estimated at $4000-6000, sold at $21250 (image at right, middle, via Phillips)

Lot 279, Vitaliy and Elena Vasilieva, Ice (triptych), 2011, estimated at $25000-30000, sold at $106900 (image at right, top, via Phillips)

Complete lot by lot results can be found here (Contemporary Art and Design) and here (Under the Influence).

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Read more about: Elena & Vitaliy Vasilieva, Larry Sultan, Slater Bradley, Phillips

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