Auction Results: New Now, September 19, 2017 @Phillips

The photography offerings in Phillips’ recent New Now sale in New York performed generally to expectations. With an overall Buy-In rate for photography under 20%, the Total Sale Proceeds found their way to the middle of the aggregate pre-sale range with a minimum of fuss.

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

Summary Statistics
Total Lots 57
Aggregate Pre Sale Low Estimate $330700
Aggregate Pre Sale High Estimate $478500
Total Lots Sold 46
Total Lots Bought In 11
Buy In % 19.30%
Total Sale Proceeds $390250

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 42
Total Low Lots Sold 34
Total Low Lots Bought In 8
Low Buy In % 19.05%
Aggregate High Estimate of Low Lots $201500
Total Proceeds from Low Lots $173375
Mid Total Lots 15
Total Mid Lots Sold 12
Total Mid Lots Bought In 3
Mid Buy In % 20.00%
Aggregate High Estimate of Mid Lots $277000
Total Proceeds from Mid Lots $216875
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 NA

The top photography lot by High estimate was tied between three lots: lot 245, Christopher Williams, Linhof Technika V fabricated in Munich, Germany. Salon Studio Stand fabricated in Florence, Italy. Dual cable release. Prontor shutter. Symar-s lens 150mmm/f 5.6 Schneider kreuznach. Sinar fresnel lens placed with black tape on the ground glass. (White) Dirk Sharper Studio, Berlin, June 19, 2007, 2008, lot 249, Thomas Ruff, Nacht 11 II, 1992, and lot 270, Wang Qingsong, Dormitory, 2005, each estimated at $20000-30000 (images in preview post). The top photography outcome of the sales was tied between the prints by Williams and Wang, both selling at $25000; the Ruff print sold at $22500.

95.65% of the lots that sold had proceeds in or above the estimate range and there were a total of 3 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Phillips, except where noted):

Lot 36, Joseph Szabo, Priscilla, 1969/2003, estimated at $1000-2000, sold at $4375

Lot 44, Terry Richardson, 5 works, 1998, 2004, 2008, estimated at $3000-5000, sold at $10625

Lot 175, Mickalene Thomas, Din avec la main dans le miroir, 2008, estimated at $3000-5000, sold at $13750 (image in preview post)

The complete lot by lot results can be found here (New Now) and here (Katayama).

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Read more about: Joseph Szabo, Mickalene Thomas, Terry Richardson, Phillips

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