Against the backdrop of a relatively weak auction season for photography, the Photographs sale last week at Phillips in New York generally met expectations, which might be deemed a success in this environment. The top lot William Eggleston tricycle found a buyer within its estimate range, and although the overall Buy-In rate creeped up over 25%, a number of positive surprises helped to balance the numbers. In the end, the Total Sale Proceeds (of roughly $4.5M) came in just above the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 307 |
| Aggregate Pre Sale Low Estimate | $4331700 |
| Aggregate Pre Sale High Estimate | $6365300 |
| Total Lots Sold | 228 |
| Total Lots Bought In | 79 |
| Buy In % | 25.73% |
| Total Sale Proceeds | $4501822 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 135 |
| Total Low Lots Sold | 108 |
| Total Low Lots Bought In | 27 |
| Low Buy In % | 20.00% |
| Aggregate High Estimate of Low Lots | $947300 |
| Total Proceeds from Low Lots | $883412 |
| Mid Total Lots | 151 |
| Total Mid Lots Sold | 107 |
| Total Mid Lots Bought In | 44 |
| Mid Buy In % | 29.14% |
| Aggregate High Estimate of Mid Lots | $3308000 |
| Total Proceeds from Mid Lots | $2268400 |
| Total High Lots | 21 |
| Total High Lots Sold | 13 |
| Total High Lots Bought In | 8 |
| High Buy In % | 38.10% |
| Aggregate High Estimate of High Lots | $2110000 |
| Total Proceeds from High Lots | $1350010 |
The top lot by High estimate was lot 117, William Eggleston, Memphis, c1969/1970, estimated at $250000-350000; it was also the top outcome of the sale at $317500 (image above via Phillips).
95.18% of the lots that sold had proceeds in or above the estimate range and there were a total of 11 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 32, Consuelo Kanaga, Profile of a Young Girl from the Tennessee Series, 1948/1950s, estimated at $5000-7000, sold at $33020
Lot 54, Ruth Orkin, My bike shadow & me on a San Francisco Hill, 1938, estimated at $2000-3000, sold at $6985
Lot 60, Henri Cartier-Bresson, Queen Charlotte’s Ball, London, 1959/later, estimated at $10000-15000, sold at $33020
Lot 123, George Tice, Petit’s Mobil Station and Watertower, Cherry Hill, N.J., 1974, estimated at $7000-9000, sold at $24130
Lot 127, Emmet Gowin, Subsidence Craters on Yucca Flat, Nevada Test Site, 1997, estimated at $3000-5000, sold at $10160
Lot 132, William Klein, Simone + Nina, Piazza di Spagna, Rome, 1960/2012, estimated at $8000-12000, sold at $25400
Lot 163, Kehinde Wiley, After Hans Holbein the Younger’s Portrait of Simon George, 2009, estimated at $8000-12000, sold at $27940
Lot 262, Wolfgang Tillmans, paper drop (light) a, 2019/2020, estimated at $12000-18000, sold at $48260
Lot 270, Anne Collier, Introduction, Fear, Anger, Despair, Guilt, Hope, Joy, Love/Conclusion, 2002, estimated at $10000-15000, sold at $33020
Lot 279, Christopher Williams, Erratum, AGFA Color (oversaturated), Camera: Robertson Process Model 31 580 Serial #F97-116, Lens: Apo Nikkor 455 mm stopped down to f90, Lighting: 16.000 Watts Tungsten 3200 degrees kelvin, Film: Kodak Plus-X Pan ASA 125, Kodak Pan Masking for contrast and color correction, Film developer: Kodak HC 110 Dilution B (1:7), used @ 68 degrees Fahrenheit, Exposure and development times (in minutes):, Exposure Development, Red Filter Kodak Wratten PM25 2’30 4’40, Green Filter Kodak Wratten PM61 10’20 3’30, Blue Filter Kodak Wratten PM47B 7’00 7’00, Paper: Fujicolor Crystal Archive Type C Glossy, Chemistry: Kodak RA-4, Processor: Tray, Exposure and development times (in seconds), Exposure Development, Red Filter Kodak Wratten #29 8, Green Filter Kodak Wratten #99 15’5 1’10, @ 92 degrees Fahrenheit, Blue Filter Kodak Wratten #98 30’5, October 7, 2000, 2000, estimated at $7000-9000, sold at $29210
Lot 289, Edward Burtynsky, Shipbreaking #50, Chittagong, Bangladesh, 2000, estimated at $6000-8000, sold at $24130
The complete lot by lot results can be found here.
