Auction Results: Saturday @Phillips, New York, April 25, 2009

While the idea behind the Saturday @Phillips sales is to target a set of collectors different than those who frequent the specialist sales (typically newer/younger collectors at lower prices), the photographs offered in the midst of the other material in this particular sale performed almost exactly in line with the general trends we are seeing in the rest of secondary market for photography: a forty percent buy in rate, total proceeds below the total low estimate, and some softness as prices move into the Mid range and higher.

The summary statistics are below:

Total Photography Lots: 86
Pre Sale Low Total Estimate: $220400
Pre Sale High Total Estimate: $310300

Total Lots Sold: 50
Total Lots Bought In: 36
Buy In %: 41.86%
Total Sale Proceeds: $132376

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

Low Total Lots: 81
Low Sold: 47
Low Bought In: 34
Buy In %: 41.98%
Total Low Estimate: $235300
Total Low Sold: $104251

Mid Total Lots: 5
Mid Sold: 3
Mid Bought In: 2
Buy In %: 40.00%
Total Mid Estimate: $75000
Total Mid Sold: $28125

High Total Lots: 0
High Sold: NA
High Bought In: NA
Buy In %: NA
Total High Estimate: $0
Total High Sold: NA

80.00% of the lots that sold had proceeds in or above the estimate range (with 28.00% above). There were three surprises (defined as having proceeds of at least double the high estimate) amongst the photography in this sale: lot 41, Catherine Opie, Mike and Sky, 1993 at $5625; lot 257, Vanessa Beecroft, Five works: Untitled, 1999 at $4750; and lot 266, Barney Kulok, Pantone 1788 (Church Door), 2006 at $1625.

Complete lot by lot results can be found here.

Phillips De Pury & Company
450 West 15th Street
New York, NY 10011

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