Auction Results: Photographs, October 3, 2017 @Phillips

The results of the recent various owner Photographs sale at Phillips were largely uneventful. Weakness among the top lots was the culprit – with only 4 out of the top 10 lots finding buyers, there just wasn’t enough sustained momentum to give the sale punch. The overall Buy-In rate came in just underneath a third of the lots, driving the Total Sale Proceeds beneath the low end of the aggregate pre-sale estimate.

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

Summary Statistics
Total Lots 134
Aggregate Pre Sale Low Estimate $3053000
Aggregate Pre Sale High Estimate $4391000
Total Lots Sold 90
Total Lots Bought In 44
Buy In % 32.84%
Total Sale Proceeds $2765000

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

Detailed Breakdown
Low Total Lots 36
Total Low Lots Sold 28
Total Low Lots Bought In 8
Low Buy In % 22.22%
Aggregate High Estimate of Low Lots $253000
Total Proceeds from Low Lots $241250
Mid Total Lots 75
Total Mid Lots Sold 51
Total Mid Lots Bought In 24
Mid Buy In % 32.00%
Aggregate High Estimate of Mid Lots $1713000
Total Proceeds from Mid Lots $1413750
Total High Lots 23
Total High Lots Sold 11
Total High Lots Bought In 12
High Buy In % 52.17%
Aggregate High Estimate of High Lots $2425000
Total Proceeds from High Lots $1110000

The top lot by High estimate was lot 301, Man Ray, Rayograph, 1922, estimated at $250000-350000 (image in preview post); it was also the top outcome of the sale at $300000.

93.33% of the lots that sold had proceeds in or above the estimate range and there were a total of 7 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):

Lot 272, Robert Mapplethorpe, Thomas, 1987, estimated at $12000-18000, sold at $52500

Lot 275, Robert Mapplethorpe, NYC Contemporary Ballet, 1980, estimated at $6000-8000, sold at $20000

Lot 277, Eliot Porter, Intimate Landscapes (portfolio), 1979, estimated at $7000-9000, sold at $18750

Lot 287, Lewis Hine, Mechanic at Steam Pump in Electric Power House, 1921/c1930, estimated at $15000-20000, sold at $68750 (image in preview post)

Lot 292, Sally Mann, The New Mothers, 1989, estimated at $20000-30000, sold at $75000

Lot 299, Man Ray, Lise Deharme en ‘La Dame de Pique’, c1935, estimated at $8000-12000, sold at $27500

Lot 308, Daido Moriyama, Stray Dog, Misawa Aomori, 1971/later, estimated at $3000-5000, sold at $12500

The complete lot by lot results can be found here.

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Read more about: Daido Moriyama, Eliot Porter, Lewis Hine, Man Ray, Robert Mapplethorpe, Sally Mann, Phillips

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