Auction Results: Photographs, April 4, 2017 @Phillips

Given the volume of exceptional work in the JGS Foundation collection sales that directly preceded it, it isn’t a huge surprise that Philips’ various owner Photographs sale experienced somewhat muted results. It was a workmanlike outing, with a roughly 30% buy-in rate and very few surprises. In the end, the Total Sale Proceeds came in at about $2.6M, falling just below the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 118
Aggregate Pre Sale Low Estimate $2631700
Aggregate Pre Sale High Estimate $3865300
Total Lots Sold 82
Total Lots Bought In 36
Buy In % 30.51%
Total Sale Proceeds $2603750

Here is the breakdown (using the Low, Mid, and High definitions from the preview post):

Detailed Breakdown
Low Total Lots 33
Total Low Lots Sold 26
Total Low Lots Bought In 7
Low Buy In % 21.21%
Aggregate High Estimate of Low Lots $220300
Total Proceeds from Low Lots $187625
Mid Total Lots 69
Total Mid Lots Sold 46
Total Mid Lots Bought In 23
Mid Buy In % 33.33%
Aggregate High Estimate of Mid Lots $1725000
Total Proceeds from Mid Lots $1174375
Total High Lots 16
Total High Lots Sold 10
Total High Lots Bought In 6
High Buy In % 37.50%
Aggregate High Estimate of High Lots $1920000
Total Proceeds from High Lots $1241750

The top lot by High estimate was tied between two lots: lot 245, Man Ray, Rayograph with Goggles, Egg and Candle, 1924, and lot 282, Robert Mapplethorpe, Tulips, 1977, both estimated at $200000-300000 (images in preview post). The Mapplethorpe work was the top outcome of the sale at $298000, while the Man Ray print did not sell.

97.56% of the lots that sold had proceeds in or above the estimate range and there were a total of 3 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):

Lot 305, Ansel Adams, Cathedral Peak and Lake, Yosemite National Park, California, 1960/1963, estimated at $4000-6000, sold at $12500

Lot 320, John Coplans, Self-Portrait, Frieze, No. 4, 3 Panels, 1994, estimated at $5000-7000, sold at $21250

Lot 330, Awol Erizku, Girl with a Bamboo Earring, 2009, estimated at $12000-18000, sold at $52500

The complete lot by lot results can be found here.

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