Auction Results: Photographs, November 2, 2017 @Phillips London

The results of the recent Photographs sale at Phillips in London were solidly respectable. The overall Buy-In rate hovered near 22% and nearly all of the top lots found buyers. While there were few unexpected positive surprises, the Total Sale Proceeds easily settled into the middle of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 97
Aggregate Pre Sale Low Estimate £1190500
Aggregate Pre Sale High Estimate £1721500
Total Lots Sold 75
Total Lots Bought In 22
Buy In % 22.68%
Total Sale Proceeds £1548750

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

Detailed Breakdown
Low Total Lots 22
Total Low Lots Sold 18
Total Low Lots Bought In 4
Low Buy In % 18.18%
Aggregate High Estimate of Low Lots £94500
Total Proceeds from Low Lots £89500
Mid Total Lots 53
Total Mid Lots Sold 38
Total Mid Lots Bought In 15
Mid Buy In % 28.30%
Aggregate High Estimate of Mid Lots £577000
Total Proceeds from Mid Lots £455500
Total High Lots 22
Total High Lots Sold 19
Total High Lots Bought In 3
High Buy In % 13.64%
Aggregate High Estimate of High Lots £1050000
Total Proceeds from High Lots £1003750

The top lot by High estimate was tied between two lots: lot 37, Helena Almeida, Ponto de Fuga (Vanishing Point), 1982, and lot 48, Steven Meisel, CK One, New York City, 1994, both estimated at £60000-80000 (images in preview post). Each work sold at £75000, but neither was the top outcome of the sale. That honor went to lot 30, Irving Penn, Single Oriental Poppy, New York, 1968/1989, estimated at £50000-70000, sold at £118750 (image in preview post).

An impressive 100.00% of the lots that sold had proceeds in or above the estimate range, but there were only a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):

Lot 59, Malick Sidibé, Nuit de Noël (Happy-Club), 1963/2003, estimated at £3000-5000, sold at £15000

Lot 76, Joseph Szabo, Priscilla, 1969/2000s, estimated at £1500-2500, sold at £6000

The complete lot by lot results can be found here.

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Read more about: Joseph Szabo, Malick Sidibé, Phillips

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