The results from Phillips’ Photographs sale in London last week were quietly uneventful. The overall Buy-In rate inched toward 40% and the Total Sale Proceeds just missed the low end of the aggregate pre-sale estimate range; with few surprises of note, it was a sale filled with workmanlike transactions.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 144 |
| Aggregate Pre Sale Low Estimate | £1525800 |
| Aggregate Pre Sale High Estimate | £2150200 |
| Total Lots Sold | 90 |
| Total Lots Bought In | 54 |
| Buy In % | 37.50% |
| Total Sale Proceeds | £1435375 |
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 | 23 |
| Total Low Lots Bought In | 17 |
| Low Buy In % | 42.50% |
| Aggregate High Estimate of Low Lots | £145200 |
| Total Proceeds from Low Lots | £113375 |
| Mid Total Lots | 85 |
| Total Mid Lots Sold | 55 |
| Total Mid Lots Bought In | 30 |
| Mid Buy In % | 35.29% |
| Aggregate High Estimate of Mid Lots | £1042000 |
| Total Proceeds from Mid Lots | £467125 |
| Total High Lots | 19 |
| Total High Lots Sold | 12 |
| Total High Lots Bought In | 7 |
| High Buy In % | 36.84% |
| Aggregate High Estimate of High Lots | £963000 |
| Total Proceeds from High Lots | £193125 |
The top lot by High estimate is lot 74, Gilbert & George, Tag Black, 2004, estimated at £100000-150000; it was also the top outcome of the sale at £110500.
99.00% of the lots that sold had proceeds in or above the estimate range, and there were a total of 3 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 71, William Eggleston, Untitled (Red Doorway), 1972/later, estimated at £7000-10000, sold at £21250 (image above, middle, via Christie’s)
Lot 79, Elliott Erwitt, Wyoming, 1954/later, estimated at £1500-2500, sold at £5625 (image above, right, via Christie’s)
Lot 122, Elena and Vitaly Vasilieva, Untitled from Apokolipsis Art, 2012-2013, estimated at £6000-8000, sold at £16250 (image above, left, via Christie’s)
Complete lot by lot results can be found here.
