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.
