Auction Results: New Now, April 28, 2022 @Phillips London

While the photography on offer at Phillips’ recent New Now sale in London was an eclectic bunch, it certainly performed satisfactorily. The top lot Wolfgang Tillmans print sold within its estimate range, and the photo lots in the middle and high price tiers sold through solidly. Overall, the Buy-In rate for photography was excellent (under 8%), leading to Total Sale Proceeds (of just over £350K) that came in just above the high end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 26
Aggregate Pre Sale Low Estimate £237000
Aggregate Pre Sale High Estimate £341000
Total Lots Sold 24
Total Lots Bought In 2
Buy In % 7.69%
Total Sale Proceeds £351851

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

Detailed Breakdown
Low Total Lots 6
Total Low Lots Sold 5
Total Low Lots Bought In 1
Low Buy In % 16.67%
Aggregate High Estimate of Low Lots £28000
Total Proceeds from Low Lots £17951
Mid Total Lots 18
Total Mid Lots Sold 17
Total Mid Lots Bought In 1
Mid Buy In % 5.56%
Aggregate High Estimate of Mid Lots £208000
Total Proceeds from Mid Lots £231840
Total High Lots 2
Total High Lots Sold 2
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots £105000
Total Proceeds from High Lots £102060

The top photography lot by High estimate was lot 106, Wolfgang Tillmans, Layers, 2018, estimated at £50000-70000; it was also the top photography outcome of the sale at £69300 (image above, via Phillips).

87.50% 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 126, Gerhard Richter, Cage 4 (P19-4), 2020, estimated at £6000-8000, sold at £27720

The complete lot by lot results can be found here.

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Read more about: Gerhard Richter, Wolfgang Tillmans, Phillips

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