Auction Results: Reframing Beauty: A Private Seattle Collection, October 7, 2021 @Phillips

The results from the single collector sale of photographs at Philips last week were solid. The overall Buy-In rate for the sale was a respectable 15%, and punctuated by a new auction record for Peter Hujar, the Total Sale Proceeds (of roughly $1M) came in just under the top end of the aggregate pre-sale estimate range.

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

Summary Statistics
Total Lots 65
Aggregate Pre Sale Low Estimate $745000
Aggregate Pre Sale High Estimate $1095000
Total Lots Sold 55
Total Lots Bought In 10
Buy In % 15.38%
Total Sale Proceeds $1039274

Here is the breakdown (using our typical Low, Mid, and High definitions):

Detailed Breakdown
Low Total Lots 30
Total Low Lots Sold 23
Total Low Lots Bought In 7
Low Buy In % 23.33%
Aggregate High Estimate of Low Lots $235000
Total Proceeds from Low Lots $207144
Mid Total Lots 32
Total Mid Lots Sold 29
Total Mid Lots Bought In 3
Mid Buy In % 9.38%
Aggregate High Estimate of Mid Lots $660000
Total Proceeds from Mid Lots $529730
Total High Lots 3
Total High Lots Sold 3
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots $200000
Total Proceeds from High Lots $302400

The top lot by High estimate was tied between two lots, each estimated at $50000-70000: lot 9, Robert Adams, Southwest from the South Jetty, Clatsop County, Oregon, 1995, and lot 13, Robert Adams, Longmont, Colorado, 1990. The first Adams sold at $63000 and the second sold at $81900, but neither was the top outcome of the sale. That honor went to lot 26, Peter Hujar, David Wojnarowicz Reclining (II), 1981, estimated at $40000-60000, sold at $157500 (image above via Phillips).

85.45% of the lots that sold had proceeds in or above the estimate range and there were a total of 2 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):

Lot 26, Peter Hujar, David Wojnarowicz Reclining (II), 1981, estimated at $40000-60000, sold at $157500

Lot 40, Diane Arbus, Untitled (1), 1970-71/later, estimated at $6000-8000, sold at $20160

The complete lot by lot results can be found here.

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