While Phillips had meaningfully less photography on offer in the most recent cycle of Contemporary Art sales in New York, it generated mostly solid outcomes for what it did present. With a respectable overall Buy-In rate for photography (just over 20%), the Total Sale Proceeds found their way to the middle of the pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 34 |
| Aggregate Pre Sale Low Estimate | $3094000 |
| Aggregate Pre Sale High Estimate | $4461000 |
| Total Lots Sold | 27 |
| Total Lots Bought In | 7 |
| Buy In % | 20.59% |
| Total Sale Proceeds | $3437250 |
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 | 22 |
| Total Mid Lots Sold | 16 |
| Total Mid Lots Bought In | 6 |
| Mid Buy In % | 27.27% |
| Aggregate High Estimate of Mid Lots | $691000 |
| Total Proceeds from Mid Lots | $483750 |
| Total High Lots | 12 |
| Total High Lots Sold | 11 |
| Total High Lots Bought In | 1 |
| High Buy In % | 8.33% |
| Aggregate High Estimate of High Lots | $3770000 |
| Total Proceeds from High Lots | $2953500 |
The top photography lot by High estimate was tied between three lots: lot 27, Andreas Gursky, James Bond Island II, 2007, lot 28, Jeff Wall, The Bridge, 1980, and lot 51, Andreas Gursky, Dortmund, 2009, each estimated at $500000-700000. The Gursky James Bond Island II was the top outcome of the sales at $725000; the Wall sold for $485000 and the other Gursky failed to sell.
88.89% of the lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the sales (defined as having proceeds of at least double the high estimate) (image above via Phillips):
Lot 144, Wolfgang Tillmans, Paper Drop (Blue), 2007, estimated at $50000-70000, sold at $149000
The complete lot by lot results can be found here (Evening) and here (Day).
