Auction Results: New Now, July 15, 2020 @Phillips London

There wasn’t much notable photography included in Phillips’ recent New Now sale in London, and the results of the auction were generally uneventful. The overall Buy-In rate for photography was low (under 9%), but with only 1 positive surprise, the Total Sale Proceeds (of just £150K) were lackluster, coming in below the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 23
Aggregate Pre Sale Low Estimate £161000
Aggregate Pre Sale High Estimate £244000
Total Lots Sold 21
Total Lots Bought In 2
Buy In % 8.70%
Total Sale Proceeds £151250

Here is the breakdown (using our usual Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 11
Total Low Lots Sold 10
Total Low Lots Bought In 1
Low Buy In % 9.09%
Aggregate High Estimate of Low Lots £39000
Total Proceeds from Low Lots £36000
Mid Total Lots 10
Total Mid Lots Sold 10
Total Mid Lots Bought In 0
Mid Buy In % 0.00%
Aggregate High Estimate of Mid Lots £125000
Total Proceeds from Mid Lots £94000
Total High Lots 2
Total High Lots Sold 1
Total High Lots Bought In 1
High Buy In % 50.00%
Aggregate High Estimate of High Lots £80000
Total Proceeds from High Lots £21250

The top photography lot by High estimate was lot 25, Wolfgang Tillmans, Lighter 33, 2007, estimated at £30000-50000; it did not sell. The top photography outcome of the sale was lot 216, Cindy Sherman, Five works: i) Untitled #341; ii) Untitled #343’ iii) Untitled #345; vi) Untitled #334; v) Untitled #355, 1999, 2000, estimates at £20000-30000, sold at £21250 (image above, via Phillips).

80.95% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate) (image above via Phillips):

Lot 222, Andres Serrano, The Morgue (Broken Bottle Murder II), 1992, estimated at £2000-3000, sold at £6875

The complete lot by lot results can be found here.

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