Auction Results: Photographs Evening and Day Sales, April 1 and 2, 2015 @Phillips

The results from Phillips recent evening and day Photographs sales were consistently solid, easily bringing in the largest total proceeds (roughly $7 million) this season among the three major auction houses. The overall Buy-In rate across the two sales was a respectable 20% and there were enough positive surprises during the day to push the Total Sale Proceeds into the middle of the pre-sale estimate range.

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

Summary Statistics
Total Lots 241
Pre Sale Low Total Estimate $6307500
Pre Sale High Total Estimate $8912500
Total Lots Sold 192
Total Lots Bought In 49
Buy In % 20.33%
Total Sale Proceeds $7083000

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

Detailed Breakdown
Low Total Lots 82
Low Sold 65
Low Bought In 17
Low Buy In % 20.73%
Total Low Estimate $557500
Total Low Sold $495375
Mid Total Lots 124
Mid Sold 100
Mid Bought In 24
Mid Buy In % 19.35%
Total Mid Estimate $2815000
Total Mid Sold $2510625
Total High Lots 35
High Sold 27
High Bought In 8
High Buy In % 22.86%
Total High Estimate $5540000
Total High Sold $4077000

The top lot by High estimate was lot 18, Helmut Newton, Walking Women, Paris, 1981, estimated at $700000-900000; it was also the top outcome of the two sales at $905000 (image in preview post).

90.63% of the lots that sold had proceeds in or above the estimate range and there were a total of 12 positive surprises in the sales (defined as having proceeds of at least double the high estimate) (images above, via Phillips):

Lot 115, Annie Leibovitz, Lauren Hutton, Oxford, Mississippi, 1981, estimated at $4000-6000, sold at $17500

Lot 149, Garry Winogrand, Salt Lake City Municipal Airport, 1964, estimated at $10000-15000, sold at $37500

Lot 207, Daniele Tamagni, Willy Covary, 2008, estimated at $2500-3500, sold at $7500

Lot 209, Peter Beard, Fayel Tall at Loingalani, Lake Rudolph, Kenya, 1987/1998, estimated at $15000-20000, sold at $40000

Lot 214, Pieter Hugo, Adbullahi Mohammed with Mainasara, Ogere-Remo, Nigeria, 2007, estimated at $15000-20000, sold at $40000

Lot 222, Sebastião Salgado, The Eastern Part of the Brooks Range, Arctic National Wildlife Refuge, Alaska, USA, 2009, estimated at $35000-45000, sold at $97500

Lot 236, Joel Meyerowitz, Dairyland, Provincetown, 1976, estimated at $6000-8000, sold at 16250

Lot 253, Mitch Epstein, Amos Coal Power Plant, West Virginia, 2004, estimated at $20000-30000, sold at $62500

Lot 273, Alex Prager, Crowd #2 (Emma), 2012, estimated at $20000-30000, sold at $75000

Lot 278, Andrew Moore, Model T Headquarters, Highland Park, Detroit, 2009, estimated at $6000-8000, sold at $16250

Lot 281, Marco Breuer, Spin (C-827), 2008, estimated at $5000-7000, sold at $15000

Lot 314, Catherine Opie, Untitled #8 from Freeway, 1994, estimated at $2000-3000, sold at $11875

Complete lot by lot results can be found here.

Alex Prager, Andrew Moore, Annie Leibovitz, Catherine Opie, Daniele Tamagni, Garry Winogrand, Joel Meyerowitz, Marco Breuer, Mitch Epstein, Peter Beard, Pieter Hugo, Sebastião Salgado, Phillips

One comment

  1. Pete /

    Next time you report that Prager being sold I reckon it will be ten times more expensive.

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