The photography offerings in Phillips’ recent New Now sale in London were relatively thin, and the results matched that middling reality. With an overall Buy-In rate for photography over 30% and just one positive surprise, the Total Sale Proceeds for photography came in under 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 | 29 |
| Aggregate Pre Sale Low Estimate | £159000 |
| Aggregate Pre Sale High Estimate | £227000 |
| Total Lots Sold | 20 |
| Total Lots Bought In | 9 |
| Buy In % | 31.03% |
| Total Sale Proceeds | £122938 |
Here is the breakdown (using our usual Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 12 |
| Total Low Lots Sold | 9 |
| Total Low Lots Bought In | 3 |
| Low Buy In % | 25.00% |
| Aggregate High Estimate of Low Lots | £32000 |
| Total Proceeds from Low Lots | £15563 |
| Mid Total Lots | 16 |
| Total Mid Lots Sold | 10 |
| Total Mid Lots Bought In | 6 |
| Mid Buy In % | 37.50% |
| Aggregate High Estimate of Mid Lots | £165000 |
| Total Proceeds from Mid Lots | £100500 |
| Total High Lots | 1 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 0 |
| High Buy In % | 0.00% |
| Aggregate High Estimate of High Lots | £30000 |
| Total Proceeds from High Lots | £6875 |
The top photography lot by High estimate was lot 184, Robin Rhode, Rough Cut, 2007, estimated at £20000-30000; it sold at £6875. The top photography outcome of the sale was lot 173, Mickalene Thomas, Portrait of Qusuquzah, 2008, estimated at £10000-15000, sold at £18750 (image above, via Phillips).
60.00% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above via Phillips):
Lot 90, Walead Beshty, Two Sided Picture (YG), 2007, estimated at £6000-8000, sold at £16250
The complete lot by lot results can be found here.
