Auction Results: Contemporary Art Evening and Day Sales, July 2 and 3, 2014 @Phillips London

With an overall Buy-In rate for photography topping 55% and no positive surprises, it doesn’t take a genius to guess that the results for the photography buried in Phillips’ Contemporary Art sales in London last week might not have been stellar. As it was, the Total Sale Proceeds missed the low end of the pre-sale estimate by a healthy margin. Without much in the way of compelling material, it’s no surprise that that sales didn’t attract buyers with much enthusiasm.

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

Summary Statistics
Total Lots 18
Aggregate Pre Sale Low Estimate £517000
Aggregate Pre Sale High Estimate £742000
Total Lots Sold 8
Total Lots Bought In 10
Buy In % 55.56%
Total Sale Proceeds £409875

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 9
Total Mid Lots Sold 3
Total Mid Lots Bought In 6
Mid Buy In % 66.67%
Aggregate High Estimate of Mid Lots £152000
Total Proceeds from Mid Lots £53125
Total High Lots 9
Total High Lots Sold 5
Total High Lots Bought In 4
High Buy In % 44.44%
Aggregate High Estimate of High Lots £590000
Total Proceeds from High Lots £356750

The top lot by High estimate was lot 22, Zhang Huan, Family Tree, 2000, estimated at £100000-150000; it was also the top photography outcome of the sales at £206500 (image above, via Phillips).

87.50% of the lots that sold had proceeds in or above the estimate range and there were no surprises in the sales (defined as having proceeds of at least double the high estimate).

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

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Read more about: Zhang Huan, Phillips ~ 450 Park

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