Auction Results: Photographs, November 18, 2014 @Phillips London

Led by solid sell through of the high priced lots, Phillips’ various owner photographs auction in London just after Paris Photo generally performed to expectations. In fact, there were only two positive surprises in the entire sale, so nearly every other lot that found a buyer didn’t wander too far from its estimate boundaries. Overall, the Buy-In rate worryingly inched up toward 40%, but the Total Sale Proceeds still covered the low end of the estimate range with some room to spare.

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

Summary Statistics
Total Lots 122
Aggregate Pre Sale Low Estimate £1418100
Aggregate Pre Sale High Estimate £1975400
Total Lots Sold 76
Total Lots Bought In 46
Buy In % 37.70%
Total Sale Proceeds £1522125

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

Detailed Breakdown
Low Total Lots 23
Total Low Lots Sold 12
Total Low Lots Bought In 11
Low Buy In % 47.83%
Aggregate High Estimate of Low Lots £80400
Total Proceeds from Low Lots £41250
Mid Total Lots 81
Total Mid Lots Sold 49
Total Mid Lots Bought In 32
Mid Buy In % 39.51%
Aggregate High Estimate of Mid Lots £962000
Total Proceeds from Mid Lots £627125
Total High Lots 18
Total High Lots Sold 15
Total High Lots Bought In 3
High Buy In % 16.67%
Aggregate High Estimate of High Lots £933000
Total Proceeds from High Lots £853750

The top lot by High estimate was lot 206, Rodney Graham, Welsh Oaks, 1998, estimated at £100000-150000; it was also the top outcome of the sale at £122500.

94.74% of the lots that sold had proceeds in or above the estimate range and there were a total of only 2 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 202, Kyung Soo Kim, Full Moon Story 04, 2007, estimated at £5000-7000, sold at £15000 (image above, left, via Phillips)

Lot 206, Michael Dweck, Surf’s Up 1, Montauk, NY, 2006, estimated at £8000-12000, sold at £30000 (image above, right, via Phillips)

Complete lot by lot results can be found here.

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Read more about: Kyung Soo Kim, Michael Dweck, Phillips ~ 450 Park

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