Auction Results: New Now, December 12, 2019 @Phillips London

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.

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Read more about: Cindy Sherman, Darren Almond, Mickalene Thomas, Phillips

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