Auction Results: Photographs, November 7, 2013 @Phillips London

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.

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Read more about: Elena & Vitaliy Vasilieva, Elliott Erwitt, William Eggleston, Phillips ~ 450 Park

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