Auction Results: New Now, February 28, 2018 @Phillips

The photography included in Phillips’ entry level New Now sale in New York last week performed solidly. With a Buy-In rate for photography under 20% and a handful of positive surprises to give the results a boost, the Total Sale Proceeds came in at the top end of the aggregate pre-sale estimate range.

The summary statistics are below (all results include the buyer’s premium):

Summary Statistics
Total Lots 38
Aggregate Pre Sale Low Estimate $337000
Aggregate Pre Sale High Estimate $473000
Total Lots Sold 31
Total Lots Bought In 7
Buy In % 18.42%
Total Sale Proceeds $474875

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

Detailed Breakdown
Low Total Lots 21
Total Low Lots Sold 17
Total Low Lots Bought In 4
Low Buy In % 19.05%
Aggregate High Estimate of Low Lots $130000
Total Proceeds from Low Lots $146125
Mid Total Lots 17
Total Mid Lots Sold 14
Total Mid Lots Bought In 3
Mid Buy In % 17.65%
Aggregate High Estimate of Mid Lots $343000
Total Proceeds from Mid Lots $328750
Total High Lots 0
Total High Lots Sold NA
Total High Lots Bought In NA
High Buy In % NA
Aggregate High Estimate of High Lots $0
Total Proceeds from High Lots $0

The top photography lot by High estimate was lot 37, Ana Mendieta, Untitled (Glass on Body Imprints), 1972/1997, estimated at $35000-45000. It sold at $60000. The top photographic outcome was lot 13, Petra Cortright, Might and magic and the mandate of heaven, 2014, estimated at $18000-22000, sold at $65000. (Images above via Phillips.)

87.10% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Phillips):

Lot 13, Petra Cortright, Might and magic and the mandate of heaven, 2014, estimated at $18000-22000, sold at $65000

Lot 155, Cindy Sherman, Untitled (Self-Portrait with Sun Tan), 2003, estimated at $2000-3000, sold at $10000

Lot 156, Robert Longo, Untitled plate 13 (from Men in the Cities), 2005, estimated at $6000-8000, sold at $32500

Lot 160, Roe Ethridge, Pigeon, 2002, estimated at $4000-6000, sold at $19375

The complete lot by lot results can be found here.

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Read more about: Ana Mendieta, Cindy Sherman, Petra Cortright, Robert Longo, Roe Ethridge, Phillips

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