Led by a million dollar Richard Prince cowboy, the photography in Phillips’ Contemporary Art & Design and Under the Influence sales delivered steady results given the bustle of Armory Week. A selection of Gerhard Richter’s overpainted photographs all brought in solid prices, but with an overall Buy-In rate for photography of 30% and few positive surprises, the sales did well to find the middle of the pre-sale estimate range.
Lot 8, Richard Prince, Untitled (Cowboy), 1996, estimated at $1000000-1500000, sold at $1145000, Phillips Contemporary Art & Design Evening (New York), March 3, 2015.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 50 |
| Aggregate Pre Sale Low Estimate | $1680000 |
| Aggregate Pre Sale High Estimate | $2458000 |
| Total Lots Sold | 35 |
| Total Lots Bought In | 15 |
| Buy In % | 30.00% |
| Total Sale Proceeds | $1944625 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 23 |
| Total Low Lots Sold | 14 |
| Total Low Lots Bought In | 9 |
| Low Buy In % | 39.13% |
| Aggregate High Estimate of Low Lots | $167000 |
| Total Proceeds from Low Lots | $115875 |
| Mid Total Lots | 23 |
| Total Mid Lots Sold | 18 |
| Total Mid Lots Bought In | 5 |
| Mid Buy In % | 21.74% |
| Aggregate High Estimate of Mid Lots | $581000 |
| Total Proceeds from Mid Lots | $571250 |
| Total High Lots | 4 |
| Total High Lots Sold | 3 |
| Total High Lots Bought In | 1 |
| High Buy In % | 25.00% |
| Aggregate High Estimate of High Lots | $1710000 |
| Total Proceeds from High Lots | $1257500 |
The top photography lot by High estimate was lot 8, Richard Prince, Untitled (Cowboy), 1996, estimated at $1000000-1500000; it was also the top photography outcome of the two sales at $1145000 (image above, via Phillips).
85.71% of the lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the two sales (defined as having proceeds of at least double the high estimate):
Lot 19, Elaine Sturtevant, Muybridge Plate #36, Woman Shifting Her Weight with Arms on Hip, Arms Behind Back, 1967, estimated at $30000-40000, sold at $81250 (image in preview post)
Complete lot by lot results can be found here (Contemporary Art & Design Evening) and here (Under the Influence).
