There was little of photographic substance to report following Phillips’ recent New Now sale in London. With a Buy-In rate for photography above 38%, almost no positive surprises, and the failure of the top lot Cindy Sherman print to find a buyer, it can come as little surprise that the Total Sale Proceeds missed the low end of the pre-sale range by a decent margin.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 47 |
| Aggregate Pre Sale Low Estimate | £313000 |
| Aggregate Pre Sale High Estimate | £461000 |
| Total Lots Sold | 29 |
| Total Lots Bought In | 18 |
| Buy In % | 38.30% |
| Total Sale Proceeds | £237875 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 13 |
| Total Low Lots Sold | 10 |
| Total Low Lots Bought In | 3 |
| Low Buy In % | 23.08% |
| Aggregate High Estimate of Low Lots | £52000 |
| Total Proceeds from Low Lots | £23500 |
| Mid Total Lots | 32 |
| Total Mid Lots Sold | 18 |
| Total Mid Lots Bought In | 14 |
| Mid Buy In % | 43.75% |
| Aggregate High Estimate of Mid Lots | £324000 |
| Total Proceeds from Mid Lots | £186875 |
| Total High Lots | 2 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 1 |
| High Buy In % | 50.00% |
| Aggregate High Estimate of High Lots | £85000 |
| Total Proceeds from High Lots | £27500 |
The top photography lot by High estimate was lot 151, Cindy Sherman, Untitled #107, 1982, estimated at £35000-55000; it did not sell. The top photography outcome of the sale was lot 141, Shirin Neshat, Shameless, 1997, estimated at £20000-30000, sold at £27500 (image above, via Phillips).
72.41% of the lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 164, Catherine Yass, Cinema: New Empire, 2001, estimated at £2000-3000, sold at £7500
The complete lot by lot results can be found here.
