It was an altogether solid outing for Phillips at its Photographs sale earlier this week in New York. The top two lots both sold above their estimates, only to be topped by another Ansel Adams print. The overall Buy-In rate was a svelte 10% and with more than a dozen positive surprises to juice the numbers, the Total Sale Proceeds (of roughly $6.4M) came in above the top end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 311 |
| Aggregate Pre Sale Low Estimate | $4279700 |
| Aggregate Pre Sale High Estimate | $6350900 |
| Total Lots Sold | 278 |
| Total Lots Bought In | 33 |
| Buy In % | 10.61% |
| Total Sale Proceeds | $6417184 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 166 |
| Total Low Lots Sold | 155 |
| Total Low Lots Bought In | 11 |
| Low Buy In % | 6.63% |
| Aggregate High Estimate of Low Lots | $1301900 |
| Total Proceeds from Low Lots | $1094106 |
| Mid Total Lots | 126 |
| Total Mid Lots Sold | 106 |
| Total Mid Lots Bought In | 20 |
| Mid Buy In % | 15.87% |
| Aggregate High Estimate of Mid Lots | $2784000 |
| Total Proceeds from Mid Lots | $2686558 |
| Total High Lots | 19 |
| Total High Lots Sold | 17 |
| Total High Lots Bought In | 2 |
| High Buy In % | 10.53% |
| Aggregate High Estimate of High Lots | $2535000 |
| Total Proceeds from High Lots | $2636520 |
The top lot by High estimate was tied between two lots, both estimated at $200000-300000: lot 18, Robert Mapplethorpe, Man in Polyester Suit, 1980, and lot 177, Irving Penn, Harlequin Dress (Lisa Fonssagrives-Penn), 1950/1979; each of the lots sold at $355600, but neither was the top outcome of the sale. That honor went to lot 203, Ansel Adams, Moonrise, Hernandez, New Mexico, 1941/no later than 1959, estimated at $150000-250000, sold at $381000 (image above via Phillips).
85.25% of the lots that sold had proceeds in or above the estimate range and there were a total of 14 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 34, Pierre-Louis Pierson, Diptych: Studies of the Comtesse Castiglione, 1861-1867/1930s, estimated at $2000-3000, sold at $8636
Lot 50, Nan Goldin, Greer and Robert on the bed, New York City, 1982, estimated at $8000-12000, sold at $35560
Lot 51, Nan Goldin, Nan after being battered, 1984, estimated at $6000-8000, sold at $30480
Lot 54, Robert Mapplethorpe, Television, 1982, estimated at $3000-5000, sold at $30480
Lot 66, LaToya Ruby Frazier, Momme (floral comforter) from Notion of Family, 2008, estimated at $4000-6000, sold at $25400
Lot 86, Edward Burtynsky, Ölfusá River #1, Iceland, 2012, estimated at $15000-25000, sold at $53340
Lot 95, Olafur Eliasson, Untitled (Iceland), 2000, estimated at $3000-5000, sold at $12700
Lot 164, Berenice Abbott, Gasoline Station, 1936, estimated at $5000-7000, sold at $17780
Lot 173, Malick Sidibé, Les très bons Amis dans la même Tenue, nuit du 3 juin (Very Good Friends in the Same Outfit), 1972/1999, estimated at $1200-1800, sold at $4445
Lot 185, Hiroshi Sugimoto, Stylized Sculpture 054 (Designer: Elsa Schiaparelli, 1947), 2007, estimated at $12000-18000, sold at $38100
Lot 223, Edward Steichen, Steichen (The Steichen Book), 1906, estimated at $12000-18000, sold at $53340
Lot 240, Elliott Erwitt, A Portfolio of Ten Photographs, 1946-1968/1974, estimated at $5000-7000, sold at $15240
Lot 259, Ansel Adams, Leaves, Mills College, 1931/late 1950s or early 1960s, estimated at $30000-50000, sold at $254000
Lot 314, Jan Groover, Untitled and Untitled (two prints), 1980-1987, estimated at $1500-2500, sold at $8255
The complete lot by lot results can be found here.
