Phillips finished in the top slot in the Fall Photographs action last week, bringing in the largest proceeds of any of the major houses during the recent flurry of sales. With a Buy-In rate just under 30% and enough positive surprises to fill in the gaps, the Total Sale Proceeds cleared $6 million and fell neatly into the middle of the pre-sale range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 264 |
| Aggregate Pre Sale Low Estimate | $5174500 |
| Aggregate Pre Sale High Estimate | $7489500 |
| Total Lots Sold | 185 |
| Total Lots Bought In | 79 |
| Buy In % | 29.92% |
| Total Sale Proceeds | $6089250 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 90 |
| Total Low Lots Sold | 59 |
| Total Low Lots Bought In | 31 |
| Low Buy In % | 34.44% |
| Aggregate High Estimate of Low Lots | $623500 |
| Total Proceeds from Low Lots | $500750 |
| Mid Total Lots | 139 |
| Total Mid Lots Sold | 98 |
| Total Mid Lots Bought In | 41 |
| Mid Buy In % | 29.50% |
| Aggregate High Estimate of Mid Lots | $3176000 |
| Total Proceeds from Mid Lots | $2350000 |
| Total High Lots | 35 |
| Total High Lots Sold | 28 |
| Total High Lots Bought In | 7 |
| High Buy In % | 20.00% |
| Aggregate High Estimate of High Lots | $3690000 |
| Total Proceeds from High Lots | $3238500 |
The top lot by High estimate was lot 8, Richard Avedon, The Family (portfolio), 1976, estimated at $200000-300000; it was also the top outcome of the sale at $341000.
99.46% of the lots that sold had proceeds in or above the estimate range, and there were a total of 9 surprises in the sale (defined as having proceeds of at least double the high estimate):
Lot 10, Diane Arbus, King and Queen of a Senior Citizens’ Dance, NYC, 1970, estimated at $60000-80000, sold at $161000 (image above, left, via Phillips)
Lot 41, Peter Beard, Maureen Gallagher and a Late Night Feeder, Hog Ranch, 1987/Later, estimated at $20000-30000, sold at $61250
Lot 99, Ruud van Empel, World #27, 2008, estimated at $15000-20000, sold at $52500 (image above, middle, via Phillips)
Lot 109, William Eggleston, Untitled from Los Alamos ‘Cousins’, 1965-1974/2002, estimated at $7000-9000, sold at $25000
Lot 140, August Sander, Konditor (Pastry Chef), Cologne, 1928/Later, estimated at $5000-7000, sold at $16250
Lot 171, Robert Adams, New Housing, Boulder Country, Colorado, 1980/2003, estimated at $7000-9000, sold at $18750 (image above, right, via Phillips)
Lot 178, Lucien Clergue, Denise and Shadows, Chicago, 1977, estimated at $3000-5000, sold at $13750
Lot 203, Cecil Beaton, Untitled, n.d., estimated at $1500-2500, sold at $6250
Lot 233, Harry Callahan, Ludwig Mies van der Rohe, 1952/Later, estimated at $3000-5000, sold at $12500
Complete lot by lot results can be found here.
