Auction Results: New Now, April 11, 2019 @Phillips London

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
Pre Sale Low Total Estimate £159000
Pre Sale High Total 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
Low Sold 9
Low Bought In 3
Low Buy In % 25.00%
Total Low Estimate £32000
Total Low Sold £15563
Mid Total Lots 16
Mid Sold 10
Mid Bought In 6
Mid Buy In % 37.50%
Total Mid Estimate £165000
Total Mid Sold £100500
Total High Lots 1
High Sold 1
High Bought In 0
High Buy In % 0.00%
Total High Estimate £30000
Total High Sold £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.

Mickalene Thomas, Walead Beshty, Phillips

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