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
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):

Detailed Breakdown
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.

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Read more about: Cindy Sherman, John Baldessari, Phillips

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