Auction Results: Contemporary Art Evening and Day Sales, February 10 and 11, 2014 @Phillips London

Phillips opened the 2014 auction year with its Contemporary Art sales earlier this week in London, and the photography on offer performed in a workmanlike manner. The soaring run up of Zhang Huan’s Family Tree to nearly £300000 (more than three times its pre sale high estimate) provided the only real eye catching outcome in a pair of auctions whose Total Sale Proceeds fell smack in the middle of the pre sale range.

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

Summary Statistics
Total Lots 30
Aggregate Pre Sale Low Estimate £820000
Aggregate Pre Sale High Estimate £1229000
Total Lots Sold 21
Total Lots Bought In 9
Buy In % 30.00%
Total Sale Proceeds £1076500

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 0
Total Low Lots Bought In 0
Low Buy In % NA
Aggregate High Estimate of Low Lots £0
Total Proceeds from Low Lots NA
Mid Total Lots 17
Total Mid Lots Sold 10
Total Mid Lots Bought In 7
Mid Buy In % 41.18%
Aggregate High Estimate of Mid Lots £239000
Total Proceeds from Mid Lots £117500
Total High Lots 13
Total High Lots Sold 11
Total High Lots Bought In 2
High Buy In % 15.38%
Aggregate High Estimate of High Lots £990000
Total Proceeds from High Lots £959000

The top lot by High estimate was lot 9, Andreas Gursky, Ocean IV, 2010, estimated at £300000-500000; it was also the top outcome of the two sales at £338500.

76.19% of the lots that sold had proceeds in or above the estimate range, and there were a total of two surprises in the sales (defined as having proceeds of at least double the high estimate):

Lot 202, Zhang Huan, Family Tree, 2000, estimated at £60000-80000, sold at £290500 (image above left, via Phillips)

Lot 244, Sante D’Orazio, Pamela Anderson (Profile #6), 2000, estimated at £6000-8000, sold at £18750 (image above right, via Phillips)

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

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Read more about: Sante D'Orazio, Zhang Huan, Phillips

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