Auction Results: Photographs, October 1, 2014 @Phillips

The results from Phillips’ various owner Photographs sale earlier this week in New York were solid and workmanlike. The combination of a respectable overall Buy-In rate (under 25%) and a handful of positive surprises led to Total Sale Proceeds that sat squarely in the middle of the pre-sale estimate range. Taken together with the results from its AIC sale, Phillips’s photography sales brought in the largest aggregate dollar volume during this busy week, besting the totals from Christie’s and Sotheby’s.

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

Summary Statistics
Total Lots 218
Aggregate Pre Sale Low Estimate $4305500
Aggregate Pre Sale High Estimate $6142500
Total Lots Sold 165
Total Lots Bought In 53
Buy In % 24.31%
Total Sale Proceeds $5049000

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

Detailed Breakdown
Low Total Lots 62
Total Low Lots Sold 47
Total Low Lots Bought In 15
Low Buy In % 24.19%
Aggregate High Estimate of Low Lots $462500
Total Proceeds from Low Lots $477250
Mid Total Lots 129
Total Mid Lots Sold 102
Total Mid Lots Bought In 27
Mid Buy In % 20.93%
Aggregate High Estimate of Mid Lots $3005000
Total Proceeds from Mid Lots $2157500
Total High Lots 27
Total High Lots Sold 16
Total High Lots Bought In 11
High Buy In % 40.74%
Aggregate High Estimate of High Lots $2675000
Total Proceeds from High Lots $2414250

The top lot by High estimate was lot 126, Helmut Newton, Private Property: Suites I, II, and III, 1984, estimated at $350000-450000; it was also the top outcome of the sale at $389000.

96.36% of the lots that sold had proceeds in or above the estimate range, and there were a total of 7 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 176, Elliott Erwitt, California, 1955/Later, estimated at $2500-3500, sold at $10000

Lot 178, Elliott Erwitt, Paris, 1989/Later, estimated at $7000-9000, sold at $20000

Lt 226, Sally Mann, Candy Cigarette, 1989, estimated at $80000-120000, sold at $257000 (image above, left, via Phillips)

Lot 259, Robert Adams, Colorado Springs, Colorado, 1968/1990,estimated at $25000-35000, sold at $81250 (image above, right, via Phillips)

Lot 286, Carrie Mae Weems, Untitled (Woman Playing Solitaire) from The Kitchen Table, 1990, estimated at $15000-25000, sold at $62500

Lot 304, Steve McCurry, Sharbat Gula, Afghan Girl, Pakistan, 1984/Later, estimated at $8000-12000, sold at $25000

Lot331, Ruud Van Empel, World #8, 2005, estimated at $30000-50000, sold at $118750 (image above, middle, via Phillips)

Complete lot by lot results can be found here.

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