The results from the various owner Photographs sale last week at Phillips in New York generally met expectations. The top lot Alfred Stieglitz winter scene found a buyer within its estimate range, and although the overall Buy-In rate pushed up over 30%, there were enough positive surprises to keep the numbers relatively steady. In the end, the Total Sale Proceeds (of roughly $3.55M) 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 | 205 |
| Aggregate Pre Sale Low Estimate | $3475000 |
| Aggregate Pre Sale High Estimate | $5229000 |
| Total Lots Sold | 143 |
| Total Lots Bought In | 62 |
| Buy In % | 30.24% |
| Total Sale Proceeds | $3550285 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 76 |
| Total Low Lots Sold | 53 |
| Total Low Lots Bought In | 23 |
| Low Buy In % | 30.26% |
| Aggregate High Estimate of Low Lots | $500000 |
| Total Proceeds from Low Lots | $358775 |
| Mid Total Lots | 114 |
| Total Mid Lots Sold | 79 |
| Total Mid Lots Bought In | 35 |
| Mid Buy In % | 30.70% |
| Aggregate High Estimate of Mid Lots | $2899000 |
| Total Proceeds from Mid Lots | $2010410 |
| Total High Lots | 15 |
| Total High Lots Sold | 11 |
| Total High Lots Bought In | 4 |
| High Buy In % | 26.67% |
| Aggregate High Estimate of High Lots | $1830000 |
| Total Proceeds from High Lots | $1181100 |
The top lot by High estimate was lot 282, Alfred Stieglitz, From the Back Window–291–Snow Covered Tree, Back-Yard, 1915, estimated at $250000-350000; it was also the top outcome of the sale at $304800 (image above via Phillips).
87.41% 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 298, Burt Glinn, Andy Warhol with Edie Sedgwick and Chuck Wein, New York City, 1965/later, estimated at $3000-5000, sold at $13970
Lot 300, Flip Schulke, Ali Underwater, 1961/later, estimated at $10000-15000, sold at $30480
Lot 302, Peter Hujar, David Wojnarowicz (Village Voice “Heartsick: Fear and Loving in the Gay Community”), 1983, estimated at $30000-50000, sold at $139700
Lot 309, Francesca Woodman, Untitled (seated nude double exposure), 1973-1975, estimated at $15000-25000, sold at $50800
Lot 328, Bruce Davidson, Untitled, Subway, New York, 1980/later, estimated at $10000-15000, sold at $33020
Lot 329, Nan Goldin, Misty in Sheridan Square, NYC, 1991, estimated at $10000-15000, sold at $50800
Lot 348, Slim Aarons, Poolside Pairs, 1970/later, estimated at $6000-8000, sold at $19050
The complete lot by lot results can be found here.
