Auction Results: Contemporary Art Evening and Day Auctions, February 12 and 13, 2015 @Phillips London

While there was very little photography on offer in Phillips’ Contemporary Art sales in London last week, with the help of two positive surprises, the outcomes were at least solid for what was available. With an overall Buy-In rate for photography under 18%, the Total Sale Proceeds exceeded the pre-sale estimate range.

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

Summary Statistics
Total Lots 17
Aggregate Pre Sale Low Estimate £249000
Aggregate Pre Sale High Estimate £368000
Total Lots Sold 14
Total Lots Bought In 3
Buy In % 17.65%
Total Sale Proceeds £400500

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

Detailed Breakdown
Low Total Lots 0
Total Low Lots Sold NA
Total Low Lots Bought In NA
Low Buy In % NA
Aggregate High Estimate of Low Lots £0
Total Proceeds from Low Lots NA
Mid Total Lots 12
Total Mid Lots Sold 10
Total Mid Lots Bought In 2
Mid Buy In % 16.67%
Aggregate High Estimate of Mid Lots £193000
Total Proceeds from Mid Lots £176000
Total High Lots 5
Total High Lots Sold 4
Total High Lots Bought In 1
High Buy In % 20.00%
Aggregate High Estimate of High Lots £175000
Total Proceeds from High Lots £224500

The top lot by High estimate was lot 224, Vitaliy and Elena Vasilieva, Project ‘Apocalypse in Art’, 2014, estimated at £30000-50000; it was also the top photography outcome of the two sales at £134500 (image above, right, via Phillips).

85.71% of the photo lots that sold had proceeds in or above the estimate range and there were a total of 2 surprises in the two sales (defined as having proceeds of at least double the high estimate):

Lot 190, Thomas Ruff, Nacht 6 III, 1992, estimated at £10000-15000, sold at £50000 (image above, left, via Phillips)

Lot 224, Vitaliy and Elena Vasilieva, Project ‘Apocalypse in Art’, 2014, estimated at £30000-50000, sold at £134500

Complete lot by lot results can be found here (Evening) and here (Day).

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Read more about: Elena & Vitaliy Vasilieva, Thomas Ruff, Phillips ~ 450 Park

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