Auction Results: New Now, March 9, 2022 @Phillips

The photography on offer in Phillips’ New Now sale in New York last week wasn’t particularly noteworthy, but it generally performed to expectations. The top lot Vik Muniz print of Marilyn Monroe found a buyer within its estimate range, and with a low photography Buy-In rate (just over 11%), the Total Sale Proceeds for photography came in just below 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 11
Aggregate Pre Sale Low Estimate $194000
Aggregate Pre Sale High Estimate $285000
Total Lots Sold 10
Total Lots Bought In 1
Buy In % 9.09%
Total Sale Proceeds $275310

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

Detailed Breakdown
Low Total Lots 1
Total Low Lots Sold 1
Total Low Lots Bought In 0
Low Buy In % 0.00%
Aggregate High Estimate of Low Lots $8000
Total Proceeds from Low Lots $7560
Mid Total Lots 9
Total Mid Lots Sold 8
Total Mid Lots Bought In 1
Mid Buy In % 11.11%
Aggregate High Estimate of Mid Lots $207000
Total Proceeds from Mid Lots $211050
Total High Lots 1
Total High Lots Sold 1
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $70000
Total Proceeds from High Lots $56700

The top photography lot by High estimate was lot 173, Vik Muniz, Bloody Marilyn from the series After Warhol, 2001, estimated at $50000-75000; it was also the top photography outcome of the sate at $56700 (image above, via Phillips.)

80.00% of the lots that sold had proceeds in or above the estimate range and there was just one positive surprises in the sale (defined as having proceeds of at least double the high estimate) (image above, via Phillips):

Lot 179, Christopher Williams,“Valentine” typewriter, 1969, plastic (ABS); design Ettore Sottsass jun., Perry King; manufacture Ing. C. Olivetti & Co. S.p.A., Italy; h 11.5 cm, V6.3-393; August 26, 1996 (Nr. 1–4), 1996, estimated at $18000-22000, sold at $52920

The complete lot by lot results can be found here.

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