Auction Results: Contemporary Art, Parts I and II, May 14 and 15, 2009 @Phillips

The mixed bag of contemporary photography in the Phillips Contemporary Art sales delivered generally suitable results, led by the four lots in the evening sale, which all sold in or near the estimate range. Overall, the total proceeds from the photography in the two sales covered the total low estimate for those lots, and more than a third of the photo lots that sold brought in more than their high estimate (which says that the estimates were appropriately conservative).

The summary statistics are below:

Total Photography Lots: 53
Pre Sale Low Total Estimate: $1714000
Pre Sale High Total Estimate: $2396000

Total Lots Sold: 36
Total Lots Bought In: 17
Buy In %: 32.08%
Total Sale Proceeds: $1776000

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

Low Total Lots: 6
Low Sold: 4
Low Bought In: 2
Buy In %: 33.33%
Total Low Estimate: $49000
Total Low Sold: $43125

Mid Total Lots: 36
Mid Sold: 23
Mid Bought In: 13
Buy In %: 36.11%
Total Mid Estimate: $917000
Total Mid Sold: $625625

High Total Lots: 11
High Sold: 9
High Bought In: 2
Buy In %: 18.18%
Total High Estimate: $1430000
Total High Sold: $1107250

83.33% of the lots that sold had proceeds in or above the estimate range, with 36.11% above. There was only one surprise (defined as having proceeds of at least double the high estimate) in this sale: lot 132, Sharon Core, Bakery Counter, 2004 at $37500.

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

Phillips De Pury & Company
450 West 15th Street
New York, NY 10011

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