Auction Results: Contemporary Art Evening and Day Sales, October 16 and 17, 2013 @Phillips London

The photography nestled into Phillips’ two Contemporary Art sales last week in London generally performed to expectations, except for the top lot from Richard Prince which failed to sell and scuttled the overall results. The overall Buy-In rate for photography was just under a respectable 23%, but with few positive surprises to make up for the cowboy no show, the Total Sale Proceeds missed the low end of the range.

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

Summary Statistics
Total Lots 48
Aggregate Pre Sale Low Estimate £1148000
Aggregate Pre Sale High Estimate £1750000
Total Lots Sold 37
Total Lots Bought In 11
Buy In % 22.92%
Total Sale Proceeds £874875

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 35
Total Mid Lots Sold 27
Total Mid Lots Bought In 8
Mid Buy In % 22.86%
Aggregate High Estimate of Mid Lots £480000
Total Proceeds from Mid Lots £399375
Total High Lots 13
Total High Lots Sold 10
Total High Lots Bought In 3
High Buy In % 23.08%
Aggregate High Estimate of High Lots £1270000
Total Proceeds from High Lots £475500

The top lot by High estimate was lot 12,Richard Prince, Untitled (Cowboy), 1980-1984, estimated at £300000-500000; it did not sell. The top outcome of the sale was lot 33, Thomas Struth, Museo del Prado 5, Madrid, 2005/2006, estimated at £150000-250000, sold at £134500 (image above, left, via Phillips).

81.08% of the lots that sold had proceeds in or above the estimate range, and there were a total of 2 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 163, Vanessa Beecroft, US Navy Seals, Museum of Contemporary Art, San Diego, vb39.290.te, 2000, estimated at £15000-20000, sold at £41250 (image above, middle, via Phillips)

Lot 177, Paola Pivi, Untitled (zebras), 2003, estimated at £8000-12000, sold at £35000 (image above, right, via Phillips)

Complete lot by lot results can be found here and here.

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Read more about: Paola Pivi, Thomas Struth, Vanessa Beecroft, Phillips ~ 450 Park

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