Auction Results: Photographs, May 8, 2014 @Phillips London

The results of the recent Photographs sale at Phillips in London fell into the forgettably routine category. With only a few positive surprises (most notably the cover lot Blumenfeld which jumped to just over £80000) and an overall Buy-In rate over 30%, the Total Sale Proceeds missed 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 142
Aggregate Pre Sale Low Estimate £1214800
Aggregate Pre Sale High Estimate £1722200
Total Lots Sold 97
Total Lots Bought In 45
Buy In % 31.69
Total Sale Proceeds £1189625

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

Detailed Breakdown
Low Total Lots 40
Total Low Lots Sold 29
Total Low Lots Bought In 11
Low Buy In % 27.50%
Aggregate High Estimate of Low Lots £153200
Total Proceeds from Low Lots £114375
Mid Total Lots 89
Total Mid Lots Sold 60
Total Mid Lots Bought In 29
Mid Buy In % 32.58%
Aggregate High Estimate of Mid Lots £1206000
Total Proceeds from Mid Lots £702250
Total High Lots 13
Total High Lots Sold 8
Total High Lots Bought In 5
High Buy In % 38.46%
Aggregate High Estimate of High Lots £543000
Total Proceeds from High Lots £373000

The top lot by High estimate was tied between two lots: lot 66, William Eggleston, Untitled (Near Minter City and Glendora, Mississippi), 1970/1999 (image above, middle, via Phillips), and lot 75, Desiree Dolron, Xteriors I, 2001/2004, both estimated at £50000-70000. The Eggleston sold for £62500, while the Dolron sold for £56250. The top outcome of the sale was lot 108, Erwin Blumenfeld, Manina, Paris, 1937/1949-1951, estimated at £30000-40000, sold at £80500 (image in the preview post).

95.88% 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 12, Guy Bourdin, (Untitled nude and egg), 1971, estimated at £2500-3000, sold at £6875 (image above, right, via Phillips)

Lot 108, Erwin Blumenfeld, Manina, Paris, 1937/1949-1951, estimated at £30000-40000, sold at £80500

Lot 130, Peter Beard, Francis Bacon on his roof at 80 Narrow Street, London, 1972/later, estimated at £7000-9000, sold at £30000 (image above, middle, via Phillips)

Lot 139, Tim Parchikov, Bee-garden, Islavskoe from Bizzarro, 2010, estimated at £2500-3500, sold at £7500 (image above, left, via Phillips)

Complete lot by lot results can be found here.

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Read more about: Guy Bourdin, Peter Beard, Tim Parchikov, Phillips ~ 450 Park

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