Auction Results: Photographs, November 14, 2009 @Phillips

Like the Christie’s and Sotheby’s sales back in October, the results of the recent Phillips various owner photographs sale in New York fell right into the “Normal” range we have described this season: a Buy-In rate about 25%, Total Sale Proceeds that just cover the Total Low Estimate, and quite a few surprises. Even though Phillips was out of phase by a month, the results were surprisingly consistent.

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

Total Lots: 294
Pre Sale Low Total Estimate: $2424900
Pre Sale High Total Estimate: $3461100
Total Lots Sold: 214
Total Lots Bought In: 80
Buy In %: 27.21%
Total Sale Proceeds: $2756314

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

Low Total Lots: 203
Low Sold: 149
Low Bought In: 54
Buy In %: 26.60%
Total Low Estimate: $1121100
Total Low Sold: $904564

Mid Total Lots: 81
Mid Sold: 57
Mid Bought In: 24
Buy In %: 29.63%
Total Mid Estimate: $1655000
Total Mid Sold: $1277250

High Total Lots: 10
High Sold: 8
High Bought In: 2
Buy In %: 20.00%
Total High Estimate: $685000
Total High Sold: $574500

An amazing 41.59% of the lots that sold had proceeds above their estimate. There were a total of fifteen surprises in this sale (defined as having proceeds of at least double the high estimate):

Lot 1 Robert Mapplethorpe, Lisa Lyon, 1981, at $31250
Lot 20 Peter Beard, Antelopes, 1984/Later, $16250
Lot 41 Patrick Demarchelier, Christy, New York, 1986, at $11250
Lot 45 Patrick Demarchelier, Christy Turlington, New York, 1990/1996, at $37500
Lot 60 Simen Johan, Untitled #133 (Moose), 2006, at $40000
Lot 96 Ahmet Ertug, The Library of Trinity College, “The Long Room”, Dublin, 2008, at $40000
Lot 99 Gavin Bond, Redemption, 2008, at $31250
Lot 108 Edward Burtynsky, Shipbreaking #28, Chittagong, Bangladesh, 2001, at $33750
Lot 136 Nan Goldin, French Chris at Drive-in, New Jersey, 1979, at $16250
Lot 141 Wolfgang Tillmans, Paul, Nude, Golfball, 1994, at $7500
Lot 145 Albert Watson, Kate Moss, Marrakech, Morocco, 1993/Later, at $32500
Lot 189 William Eggleston, Untitled, 1973/2004, at $11250
Lot 195 Flip Schulke, Muhammed Ali boxing underwater, 1961/Later, at $13750
Lot 258 Hans Bellmer, Les Jeux de la Poupee IV, 1939/1949, at $37500
Lot 287 Shikanosuke Yagaki, Bamboo curtain, 1930, at $11250

The top lot by High estimate was lot 105, Thomas Ruff, Nude ox03, 2006, at $60000-80000; it did not sell. The top outcome of the sale was lot 144, Hiroshi Sugimoto, Salvador Dali, 1999, at $92500.

Complete lot by lot results can be found here.

Phillips De Pury & Company
450 West 15 Street
New York, NY 10011

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