The results for the photography lots available in Phillips’ Modern & Contemporary Art sales in New York last week were generally underwhelming. With no photography lots in the Evening sale, and the top lot Barbara Kruger work failing to sell, a Wolfgang Tillmans abstraction stepped into the void as the top photo lot, but there just wasn’t enough other excitement to salvage the numerical totals. With an overall Buy-In rate for photography of over 37% and just one positive surprise, the Total Sale Proceeds for photography (of roughly $425K) fell below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 8 |
| Aggregate Pre Sale Low Estimate | $657000 |
| Aggregate Pre Sale High Estimate | $971000 |
| Total Lots Sold | 5 |
| Total Lots Bought In | 3 |
| Buy In % | 37.50% |
| Total Sale Proceeds | $424180 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| 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 | $0 |
| Mid Total Lots | 4 |
| Total Mid Lots Sold | 3 |
| Total Mid Lots Bought In | 1 |
| Mid Buy In % | 25.00% |
| Aggregate High Estimate of Mid Lots | $81000 |
| Total Proceeds from Mid Lots | $83820 |
| Total High Lots | 4 |
| Total High Lots Sold | 2 |
| Total High Lots Bought In | 2 |
| High Buy In % | 50.00% |
| Aggregate High Estimate of High Lots | $890000 |
| Total Proceeds from High Lots | $340360 |
The top photography lot by High estimate was lot 329, Barbara Kruger, Untitled (Your Devotion Has the Look of a Lunatic Sport), 1981-1983, estimated at $350000-550000; it did not sell. The top photography outcome was lot 321, Wolfgang Tillmans, Freischwimmer #122, 2005, estimated at $150000-200000, sold at $215900 (image above, via Phillips.)
100.00% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive positive surprise in the sales (defined as having proceeds of at least double the high estimate)(image above, via Phillips):
Lot 182, John Baldessari, Prima Facie (Third State): Treacherous/Genuine, 2005, estimated at $40000-60000, sold at $124460
The complete lot by lot results can be found here (Morning) and here (Afternoon).
