Auction Results: Photographs, July 13, 2020 @Phillips

The results from Phillips’ recent Photographs sale in New York earlier this week were altogether solid. The top lot Ansel Adams mural sold within its range, the overall Buy-In rate was less that 20%, and there were enough positive surprises to keep things interesting. When the dust settled, the Total Sale Proceeds (of roughly $4.1M) fell in the middle of the aggregate pre-sale estimate range. Given the virus-related uncertainties of the moment, it was an admirable outing.

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

Summary Statistics
Total Lots 228
Aggregate Pre Sale Low Estimate $3734000
Aggregate Pre Sale High Estimate $5514000
Total Lots Sold 185
Total Lots Bought In 43
Buy In % 18.86%
Total Sale Proceeds $4156250

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 102
Total Low Lots Sold 87
Total Low Lots Bought In 15
Low Buy In % 14.71%
Aggregate High Estimate of Low Lots $725000
Total Proceeds from Low Lots $695625
Mid Total Lots 105
Total Mid Lots Sold 83
Total Mid Lots Bought In 22
Mid Buy In % 20.95%
Aggregate High Estimate of Mid Lots $2414000
Total Proceeds from Mid Lots $1925625
Total High Lots 21
Total High Lots Sold 15
Total High Lots Bought In 6
High Buy In % 28.57%
Aggregate High Estimate of High Lots $2375000
Total Proceeds from High Lots $1535000

The top lot by High estimate was lot 35, Ansel Adams, Winter Sunrise, Sierra Nevada from Lone Pine California, 1944/1967, estimated at $300000-50000; it was also the top outcome of the sale at $412500 (image above via Phillips).

94.59% of the lots that sold had proceeds in or above the estimate range and there were a total of 9 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):

Lot 5, Mario Giacomelli, Scanno, 1959/later, estimated at $3000-5000, sold at $10625

Lot 12, Henri Cartier-Bresson, Behind the Gare Saint-Lazare, Paris, 1932/later, estimated at $10000-15000, sold at $30000

Lot 18, Bernd and Hilla Becher, Cooling tower, steelworks, Haspe district, Hagen, Germany, 1969/later, estimated at $5000-7000, sold at $21250

Lot 42, Hiroshi Sugimoto, Time Exposed, 1991, estimated at $12000-18000, sold at $38750

Lot 73, Sally Mann, Holding Virginia, 1988, estimated at $10000-15000, sold at $40000

Lot 140, Francesca Woodman, It must be time for lunch now, New York, 1979/later, estimated at $5000-7000, sold at $16875

Lot 161, Nan Goldin, Anthony by the sea, Brighton, England, 1979/later, estimated at $10000-15000, sold at $30000

Lot 192, Abelardo Morell, Camera Obscura Image of Boston’s Old Custom House in Hotel Room, 1999, estimated at $3000-5000, sold at $10625

Lot 196, Peter Beard, Ruhuti Valley (Aberdare Forest, Kenya), record-class rhino [circa 47″] for The End of the Game, 1972/later, estimated at $60000-80000, sold at $162500

The complete lot by lot results can be found here.

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Read more about: Abelardo Morell, Ansel Adams, Bernd and Hilla Becher, Francesca Woodman, Henri Cartier-Bresson, Hiroshi Sugimoto, Mario Giacomelli, Nan Goldin, Peter Beard, Sally Mann, Phillips

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