Auction Results: New Now, February 27, 2019 @Phillips

The photography included in Phillips’ entry level New Now sale in New York last week generally met expectations. The top lot Photoshop print by Cory Arcangel sold at the top end of its estimate range, but with no positive surprises to boost the numbers further, the Total Sale Proceeds for photography came in just inside 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 15
Aggregate Pre Sale Low Estimate $289000
Aggregate Pre Sale High Estimate $410000
Total Lots Sold 12
Total Lots Bought In 3
Buy In % 20.00%
Total Sale Proceeds $318250

Here is the breakdown (using our typical Low, Mid, and High price tier definitions):

Detailed Breakdown
Low Total Lots 8
Total Low Lots Sold 7
Total Low Lots Bought In 1
Low Buy In % 12.50%
Aggregate High Estimate of Low Lots $56000
Total Proceeds from Low Lots $40750
Mid Total Lots 5
Total Mid Lots Sold 3
Total Mid Lots Bought In 2
Mid Buy In % 40.00%
Aggregate High Estimate of Mid Lots $104000
Total Proceeds from Mid Lots $40000
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 $250000
Total Proceeds from High Lots $237500

The top photography lot by High estimate was lot 29, Cory Arcangel, Photoshop CS: 84 by 50 inches, 300 DPI, RGB, square pixels, default gradient “Spectrum”, mousedown y=2000 x=1000, mouseup y=2000 x=14000; tool “Wand”, select y=14000 x=8720, tolerance=40, contiguous= off; default gradient “Spectrum”, mousedown y=24000 x=1, 2014, estimated at $100000-150000 (image above, via Phillips). It was also the top photographic outcome of the sale at $150000.

83.33% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sale (defined as having proceeds of at least double the high estimate).

The complete lot by lot results can be found here.

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