Auction Results: New Now, September 24, 2019 @Phillips

The photography included in Phillips’ entry level New Now sale in New York earlier this week generally met expectations. The top lot Vik Muniz print sold at the top end of its estimate range, but with just one positive surprise to boost the numbers further, the Total Sale Proceeds for photography came in just above 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 21
Aggregate Pre Sale Low Estimate $265000
Aggregate Pre Sale High Estimate $375000
Total Lots Sold 15
Total Lots Bought In 6
Buy In % 28.57%
Total Sale Proceeds $286000

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

Detailed Breakdown
Low Total Lots 5
Total Low Lots Sold 2
Total Low Lots Bought In 3
Low Buy In % 60.00%
Aggregate High Estimate of Low Lots $35000
Total Proceeds from Low Lots $9750
Mid Total Lots 16
Total Mid Lots Sold 13
Total Mid Lots Bought In 3
Mid Buy In % 18.75%
Aggregate High Estimate of Mid Lots $340000
Total Proceeds from Mid Lots $276250
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 115, Vik Muniz, Haystack 2 after Monet, from Pictures of Color, 2001, estimated at $30000-40000. It was also the top photographic outcome of the sale at $40000 (image above, via Phillips.)

86.67% of the lots that sold had proceeds in or above the estimate range and there was only 1 positive surprise in the sale (defined as having proceeds of at least double the high estimate):

Lot 129, Nobuyoshi Araki, 67 Shooting Back, 2007, estimated at $8000-12000, sold at $27500 (image above, via Phillips)

The complete lot by lot results can be found here.

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Read more about: Nobuyoshi Araki, Vik Muniz, Phillips

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