The results from the various owner Photographs sale last week at Phillips in New York generally met expectations. The top lot Richard Avedon portfolio found a buyer just above its estimate range, and new auction records were set for works by Tyler Mitchell and Deborah Turbeville. Statistically, the overall Buy-In rate came in under 20%, and there were more than a dozen positive surprises to push up the numbers, leading to Total Sale Proceeds (of roughly $3.5M) 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 | 223 |
| Aggregate Pre Sale Low Estimate | $2786500 |
| Aggregate Pre Sale High Estimate | $4165000 |
| Total Lots Sold | 179 |
| Total Lots Bought In | 44 |
| Buy In % | 19.73% |
| Total Sale Proceeds | $3538284 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 109 |
| Total Low Lots Sold | 92 |
| Total Low Lots Bought In | 17 |
| Low Buy In % | 15.60% |
| Aggregate High Estimate of Low Lots | $731000 |
| Total Proceeds from Low Lots | $762064 |
| Mid Total Lots | 100 |
| Total Mid Lots Sold | 78 |
| Total Mid Lots Bought In | 24 |
| Mid Buy In % | 22.00% |
| Aggregate High Estimate of Mid Lots | $2374000 |
| Total Proceeds from Mid Lots | $2014220 |
| Total High Lots | 14 |
| Total High Lots Sold | 9 |
| Total High Lots Bought In | 5 |
| High Buy In % | 35.71% |
| Aggregate High Estimate of High Lots | $1060000 |
| Total Proceeds from High Lots | $762000 |
The top lot by High estimate was lot 47, Richard Avedon, Avedon/Paris (11 prints), 1947-1957/1978, estimated at $150000-200000; it was also the top outcome of the sale at $215900 (image above via Phillips).
92.18% of the lots that sold had proceeds in or above the estimate range and there were a total of 15 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 18, Ruth Orkin, American Girl in Italy, Florence, 1951/later, estimated at $5000-7000, sold at $16510
Lot 25, André Kertész, Chez Mondrian, Paris, 1926/later, estimated at $6000-8000, sold at $22860
Lot 40, Ray Metzker, Philadelphia (64 CT-17 SG-3), 1964/1989, estimated at $4000-6000, sold at $12065
Lot 46, Richard Avedon, Richard Avedon: Made in France (book/print), 1956/2001, estimated at $10000-15000, sold at $30480
Lot 88, Horst P. Horst, Lisa with Harp, Paris, 1939/later, estimated at $4000-6000, sold at $12065
Lot 90, Albert Watson, Kate Moss, Sun and Henna, Marrakech, 1993/2017, estimated at $7000-9000, sold at $22860
Lot 110, Francesca Woodman, Untitled, Providence, Rhode Island, 1976/later, estimated at $7000-9000, sold at $19050
Lot 111, Francesca Woodman, On Being An Angel #1, Providence, Rhode Island, 1977/later, estimated at $7000-9000, sold at $27940
Lot 113, Nan Goldin, Self-portrait in the mirror, London, 1980/1996, estimated at $5000-7000, sold at $27940
Lot 119, David Wojnarowicz, Untitled (Falling Buffalo), 1988, estimated at $15000-25000, sold at $101600
Lot 129, Peter Beard, Loliondo Lion Charge from The End of the Game, 1964/later, estimated at $8000-12000, sold at $30480
Lot 130, Peter Beard, Giraffes on the Taru Desert, Kenya for The End of the Game, 1960/later, estimated at $8000-12000, sold at $27940
Lot 180, Alec Soth, Park Hyatt, Tokyo, 2015/2016, estimated at $5000-7000, sold at $17780
Lot 204, Thurston Hopkins, Make Up Mirror, 1953/later, estimated at $2000-3000, sold at $17780
Lot 206, Ernst Haas, View from Notre Dame, Paris, 1954/2023, estimated at $3000-5000, sold at $10160
The complete lot by lot results can be found here.
