The only real photographic excitement at Phillips’ recent New Now sale in London was the withdrawal of the top photo lot, a 1990 Gerhard Richter chromogenic print of his image of two candles, estimated at £350000-550000. With this headliner yanked off stage, the rest of the photography on offer struggled to gain attention. The overall Buy-In rate for photography was respectable (under 19%), but with only a couple of positive surprises, the Total Sale Proceeds (of just under £230K) fell below 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 | 27 |
| Aggregate Pre Sale Low Estimate | £251000 |
| Aggregate Pre Sale High Estimate | £358500 |
| Total Lots Sold | 22 |
| Total Lots Bought In | 5 |
| Buy In % | 18.52% |
| Total Sale Proceeds | £229068 |
Here is the breakdown (using our usual Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 9 |
| Total Low Lots Sold | 9 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | £18500 |
| Total Proceeds from Low Lots | £31122 |
| Mid Total Lots | 15 |
| Total Mid Lots Sold | 11 |
| Total Mid Lots Bought In | 4 |
| Mid Buy In % | 26.67% |
| Aggregate High Estimate of Mid Lots | £175000 |
| Total Proceeds from Mid Lots | £90846 |
| Total High Lots | 3 |
| Total High Lots Sold | 2 |
| Total High Lots Bought In | 1 |
| High Buy In % | 33.33% |
| Aggregate High Estimate of High Lots | £165000 |
| Total Proceeds from High Lots | £107100 |
The top photography lot by High estimate was lot 35, Gilbert & George, Piss on Piss, 1996, estimated at £60000-80000; it was also the top photography outcome of the sale at £69300 (image above, via Phillips).
86.36% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (image above via Phillips):
Lot 72, Jeff Koons, K is for Kindness, 2021, estimated at £300-500, sold at £8190
Lot 103, Richard Prince, Untitled (from Cowboys & Girlfriends), 1992, estimated at £3000-4000, sold at £9450
The complete lot by lot results can be found here.
