Auction Results: Photographs from the Collection of the Art Institute of Chicago, November 18, 2014 @Phillips London

Phillips’ second tranche of deaccessioned photographs from the collection of the Art Institute of Chicago was sold in London the week after Paris Photo, and while some buyer fatigue was to be expected given the scheduling, the sale performed decently well. The overall Buy-In rate was higher than generally desired (at just over 36%) and there were few positive surprises, but the Total Sale Proceeds still covered the low end of the pre-sale estimate range.

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

Summary Statistics
Total Lots 86
Aggregate Pre Sale Low Estimate £332800
Aggregate Pre Sale High Estimate £457000
Total Lots Sold 55
Total Lots Bought In 31
Buy In % 36.05%
Total Sale Proceeds £346938

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

Detailed Breakdown
Low Total Lots 64
Total Low Lots Sold 41
Total Low Lots Bought In 23
Low Buy In % 35.94%
Aggregate High Estimate of Low Lots £204000
Total Proceeds from Low Lots £169438
Mid Total Lots 22
Total Mid Lots Sold 14
Total Mid Lots Bought In 8
Mid Buy In % 36.36%
Aggregate High Estimate of Mid Lots £253000
Total Proceeds from Mid Lots £177500
Total High Lots 0
Total High Lots Sold NA
Total High Lots Bought In NA
High Buy In % NA
Aggregate High Estimate of High Lots £0
Total Proceeds from High Lots NA

The top lot by High estimate was lot 65, Ansel Adams, Aspens, Northern New Mexico, 1958/1978, estimated at £15000-20000; it sold for £18750. The top outcome of the sale was lot 62, Edward Weston, Dunes, Oceano, 1936/1953, estimated at £6000-8000, sold at £23750 (image above, left, via Phillips).

92.73% of the lots that sold had proceeds in or above the estimate range and there were a total of 4 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 20, Edward Weston, Oceano, 1936/1953, estimated at £4000-5000, sold at £10000

Lot 36, Brassaï, Soirée de gala, Chez Maxim’s, Paris, 1949/later, estimated at £3000-4000, sold at £10000 (image above, middle, via Phillips)

Lot 62, Edward Weston, Dunes, Oceano, 1936/1953, estimated at £6000-8000, sold at £23750

Lot 66, Eliot Porter, Intimate Landscapes, 1979, estimated at £3000-4000, sold at £20000 (image above, right, via Phillips)

Complete lot by lot results can be found here.

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Read more about: Brassaï (Gyula Halász), Edward Weston, Eliot Porter, Phillips ~ 450 Park

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