Auction Results: New Now, September 26, 2018 @Phillips

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):

Summary Statistics
Total Lots 60
Pre Sale Low Total Estimate $961000
Pre Sale High Total 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):

Detailed Breakdown
Low Total Lots 24
Low Sold 17
Low Bought In 7
Low Buy In % 29.17%
Total Low Estimate $165000
Total Low Sold $110251
Mid Total Lots 33
Mid Sold 24
Mid Bought In 9
Mid Buy In % 27.27%
Total Mid Estimate $712000
Total Mid Sold $491875
Total High Lots 3
High Sold 2
High Bought In 1
High Buy In % 33.33%
Total High Estimate $480000
Total High Sold $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.

Cindy Sherman, John Baldessari, Phillips

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