Auction Results: New Now, April 11, 2018 @Phillips London

The photography included in Phillips’ recent New Now sale in London generally performed to expectations. While several of the top photo lots failed to sell, the overall Buy-In rate for photography came in at a respectable 18%, and a few positive surprises helped keep the Total Sale Proceeds above the low end of the aggregate pre-sale range.

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

Summary Statistics
Total Lots 44
Aggregate Pre Sale Low Estimate £238800
Aggregate Pre Sale High Estimate £352200
Total Lots Sold 36
Total Lots Bought In 8
Buy In % 18.18%
Total Sale Proceeds £251189

Here is the breakdown (using our usual Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 18
Total Low Lots Sold 16
Total Low Lots Bought In 2
Low Buy In % 11.11%
Aggregate High Estimate of Low Lots £50200
Total Proceeds from Low Lots £34001
Mid Total Lots 23
Total Mid Lots Sold 19
Total Mid Lots Bought In 4
Mid Buy In % 17.39%
Aggregate High Estimate of Mid Lots £212000
Total Proceeds from Mid Lots £195938
Total High Lots 3
Total High Lots Sold 1
Total High Lots Bought In 2
High Buy In % 66.67%
Aggregate High Estimate of High Lots £90000
Total Proceeds from High Lots £21250

The top photography lot by High estimate was tied between three lots, each estimated at £20000-30000: lot 18, Louise Lawler, 18-20 Inches, 2001/2003, lot 41, Hugh Scott-Douglas, Transaction Record, 2014, and lot 163, David LaChapelle, Amanda as Liz (Purple), 2007. The Lawler and LaChapelle prints did not sell, while the Scott-Douglas work sold at £21250. The top photography outcome of the sale was lot 174, Ellen von Unwerth, Kate and David, New York, 2003, estimated at £5000-7000, sold at £25000 (image above, via Phillips).

77.78% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):

Lot 173, Ellen von Unwerth, Smoking in Bed, Eva Herzigova, 1994, estimated at £5000-7000, sold at £23750

Lot 174, Ellen von Unwerth, Kate and David, New York, 2003, estimated at £5000-7000, sold at £25000

Lot 223, Katy Grannan, Deanna Allentown, 2002, estimated at £1000-2000, sold at £4375

Lot 229, Doug Aitken, ultraviolet, 2004, estimated at £2000-3000, sold at £6875

The complete lot by lot results can be found here.

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Read more about: Doug Aitken, Ellen von Unwerth, Katy Grannan, Phillips

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