A Mickalene Thomas nude jumped to more than 6X its high estimate, providing a brief spark in the otherwise uneventful photography action at Phillips’ recent New Now sale in London. With an overall Buy-In rate for photography under 15%, the Total Sale Proceeds for photography came in above 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 | 37 |
| Aggregate Pre Sale Low Estimate | £407000 |
| Aggregate Pre Sale High Estimate | £572500 |
| Total Lots Sold | 32 |
| Total Lots Bought In | 5 |
| Buy In % | 13.51% |
| Total Sale Proceeds | £435813 |
Here is the breakdown (using our usual Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 12 |
| Total Low Lots Sold | 10 |
| Total Low Lots Bought In | 2 |
| Low Buy In % | 16.67% |
| Aggregate High Estimate of Low Lots | £39500 |
| Total Proceeds from Low Lots | £33313 |
| Mid Total Lots | 20 |
| Total Mid Lots Sold | 18 |
| Total Mid Lots Bought In | 2 |
| Mid Buy In % | 10.00% |
| Aggregate High Estimate of Mid Lots | £238000 |
| Total Proceeds from Mid Lots | £187500 |
| Total High Lots | 5 |
| Total High Lots Sold | 4 |
| Total High Lots Bought In | 1 |
| High Buy In % | 20.00% |
| Aggregate High Estimate of High Lots | £295000 |
| Total Proceeds from High Lots | £215000 |
The top photography lot by High estimate was tied between two lots: lot 19, Gerhard Richter, September, 2009, and lot 32, Cindy Sherman, Untitled #180, 1987, both estimated at £70000-90000; the Sherman print was the top photography outcome of the sale at £68750 (image above, via Phillips), while the Richter print sold at £67500.
68.75% of the lots that sold had proceeds in or above the estimate range and there were 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (image above via Phillips):
Lot 188, Mickalene Thomas, Courbet 1 (Melody: Sitting), 2011, estimated at £4000-6000, sold at £37500
Lot 196, Darren Almond, Shan Shui Fullmoon, 2008, estimated at £2000-3000, sold at £6250
The complete lot by lot results can be found here.
