Photography buyers clearly had their minds elsewhere during the busy fair week in New York, as the photography in Phillips’ New Now sales fared poorly. With a pass on the top photo lot Sugimoto seascape, a Buy-In rate for photography over 50%, and few positive surprises to pick up the slack, the Total Sale Proceeds missed the low end of the aggregate pre-sale estimate by a wide margin.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 37 |
| Aggregate Pre Sale Low Estimate | $660000 |
| Aggregate Pre Sale High Estimate | $945000 |
| Total Lots Sold | 17 |
| Total Lots Bought In | 20 |
| Buy In % | 54.05% |
| Total Sale Proceeds | $297875 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 24 |
| Total Low Lots Sold | 13 |
| Total Low Lots Bought In | 11 |
| Low Buy In % | 45.83% |
| Aggregate High Estimate of Low Lots | $159000 |
| Total Proceeds from Low Lots | $74125 |
| Mid Total Lots | 10 |
| Total Mid Lots Sold | 5 |
| Total Mid Lots Bought In | 5 |
| Mid Buy In % | 50.00% |
| Aggregate High Estimate of Mid Lots | $196000 |
| Total Proceeds from Mid Lots | $98750 |
| Total High Lots | 3 |
| Total High Lots Sold | 1 |
| Total High Lots Bought In | 2 |
| High Buy In % | 66.67% |
| Aggregate High Estimate of High Lots | $590000 |
| Total Proceeds from High Lots | $125000 |
The top lot by High estimate was lot 20, Hiroshi Sugimoto, Red Sea, 1992, estimated at $250000-350000; it did not sell. The top photo outcome of the two sales was lot 21, Thomas Struth, Todai-ji Interior, Nara, 1999, estimated at $120000-180000, sold at $125000 (image above, via Phillips).
94.12% of the lots that sold had proceeds in or above the estimate range, and there were a total of 2 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 160, Ian Wallace, At the Crosswalk III, 2007, estimated at $15000-20000, sold at $40000
Lot 249, Clifford Ross, Hurricane III, 2000, estimated at $4000-6000, sold at $18750
The complete lot by lot results can be found here (Evening) and here (Day).
