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
Pre Sale Low Total Estimate $289000
Pre Sale High Total 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
Low Sold 7
Low Bought In 1
Low Buy In % 12.50%
Total Low Estimate $56000
Total Low Sold $40750
Mid Total Lots 5
Mid Sold 3
Mid Bought In 2
Mid Buy In % 40.00%
Total Mid Estimate $104000
Total Mid Sold $40000
Total High Lots 2
High Sold 2
High Bought In 0
High Buy In % 0.00%
Total High Estimate $250000
Total High Sold $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.

Cory Arcangel, Phillips

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