Auction Results: New Now, September 28, 2022 @Phillips

With the Wolfgang Tillmans retrospective now on view at the MoMA, it’s not entirely surprising that a Tillmans abstract print would perform well in this early season contemporary art sale at Phillips. In general, the photography on offer was somewhat haphazard, but the top lot Vik Muniz print found a buyer within its estimate range, and paired with the Tillmans outcome, the two helped buoy the overall photo results. A moderate photography Buy-In rate (just over 25%) kept things in line, leading to Total Sale Proceeds for photography (of roughly $285K) that fell in the middle of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 15
Aggregate Pre Sale Low Estimate $250000
Aggregate Pre Sale High Estimate $371000
Total Lots Sold 11
Total Lots Bought In 4
Buy In % 26.67%
Total Sale Proceeds $288792

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

Detailed Breakdown
Low Total Lots 7
Total Low Lots Sold 5
Total Low Lots Bought In 2
Low Buy In % 28.57%
Aggregate High Estimate of Low Lots $56000
Total Proceeds from Low Lots $41832
Mid Total Lots 7
Total Mid Lots Sold 5
Total Mid Lots Bought In 2
Mid Buy In % 28.57%
Aggregate High Estimate of Mid Lots $245000
Total Proceeds from Mid Lots $183960
Total High Lots 1
Total High Lots Sold 1
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $70000
Total Proceeds from High Lots $63000

The top photography lot by High estimate was lot 158, Vik Muniz, Wheat Field with Cypresses, after Van Gogh from the series Pictures of Magazines 2, 2011, estimated at $50000-75000; it was tied for the top photography outcome of the sale at $63000 with lot 155, Wolfgang Tillmans, Blushes #105, 2000, estimated at $20000-30000 (images above, via Phillips.)

72.73% of the lots that sold had proceeds in or above the estimate range and there was just 1 positive photographic surprise in the sale (defined as having proceeds of at least double the high estimate) (image above, via Phillips):

Lot 155, Wolfgang Tillmans, Blushes #105, 2000, estimated at $20000-30000, sold at $63000

The complete lot by lot results can be found here.

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Read more about: Vik Muniz, Wolfgang Tillmans, Phillips

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