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
Pre Sale Low Total Estimate $3053000
Pre Sale High Total 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
Low Sold 28
Low Bought In 8
Low Buy In % 22.22%
Total Low Estimate $253000
Total Low Sold $241250
Mid Total Lots 75
Mid Sold 51
Mid Bought In 24
Mid Buy In % 32.00%
Total Mid Estimate $1713000
Total Mid Sold $1413750
Total High Lots 23
High Sold 11
High Bought In 12
High Buy In % 52.17%
Total High Estimate $2425000
Total High Sold $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.

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

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