The photography included in Phillips’ entry level New Now sale in New York last week generally met expectations. The top lot Sherman and Baldessari prints both sold inside their estimate ranges, but with no positive surprises to boost the totals, the Total Sale Proceeds for photography came in below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
|Aggregate Pre Sale Low Estimate||$961000|
|Aggregate Pre Sale High Estimate||$13570001|
|Total Lots Sold||43|
|Total Lots Bought In||17|
|Buy In %||28.33%|
|Total Sale Proceeds||$952126|
Here is the breakdown (using our typical Low, Mid, and High price tier definitions):
|Low Total Lots||24|
|Total Low Lots Sold||17|
|Total Low Lots Bought In||7|
|Low Buy In %||29.17%|
|Aggregate High Estimate of Low Lots||$165000|
|Total Proceeds from Low Lots||$110251|
|Mid Total Lots||33|
|Total Mid Lots Sold||24|
|Total Mid Lots Bought In||9|
|Mid Buy In %||27.27%|
|Aggregate High Estimate of Mid Lots||$712000|
|Total Proceeds from Mid Lots||$491875|
|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||$480000|
|Total Proceeds from High Lots||$350000|
The top photography lot by High estimate was tied between two lots: lot 60, Cindy Sherman, Untitled #201, 1989, and lot 61, John Baldessari, Figure (With Money) and Knife Thrower (With Blue Blindfold), 1990, both estimated at $150000-200000 (images above, via Phillips). The Sherman print was the top photographic outcome of the sale at $187500, while the Baldessari print sold at $162500.
90.70% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sale (defined as having proceeds of at least double the high estimate).
The complete lot by lot results can be found here.