Auction Results: Tailor-Made: Fashion Photographs from the Collection of Peter Fetterman (online), June 25, 2020 @Phillips

Phillips has been relatively slow to take advantage of the virus-driven online auction opportunity, primarily dipping its toe in  the water with a handful of smaller mixed sales. This single owner auction of photographs from the collection of dealer Peter Fetterman was its first foray into a full scale photo sale since the crisis began, and in general, the results were uneventful. While the pricing stayed firm (with no lots selling below their estimates), the overall Buy-In rate crept up above 35%, and with no positive surprises to juice the numbers, the Total Sale Proceeds (of just under $400K) fell below 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 64
Aggregate Pre Sale Low Estimate $457000
Aggregate Pre Sale High Estimate $668000
Total Lots Sold 41
Total Lots Bought In 23
Buy In % 35.94%
Total Sale Proceeds $397500

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

Detailed Breakdown
Low Total Lots 50
Total Low Lots Sold 32
Total Low Lots Bought In 18
Low Buy In % 36.00%
Aggregate High Estimate of Low Lots $291000
Total Proceeds from Low Lots $183750
Mid Total Lots 12
Total Mid Lots Sold 8
Total Mid Lots Bought In 4
Mid Buy In % 33.33%
Aggregate High Estimate of Mid Lots $257000
Total Proceeds from Mid Lots $166250
Total High Lots 2
Total High Lots Sold 1
Total High Lots Bought In 1
High Buy In % 50.00%
Aggregate High Estimate of High Lots $120000
Total Proceeds from High Lots $47500

The top photography lot by High estimate was lot 35, Melvin Sokolsky, Bubble Seine, Paris, 1963/later, estimated at $40000-60000; it sold at $47500. The top photography outcome of the sale was lot 11, Ormond Gigli, Girls in the Windows, New York City, 1960/later, estimated at $30000-50000, sold at $52500 (image above, via Phillips.)

100.00% of the lots that sold had proceeds in or above the estimate range and there were no positive surprises in the sale (defined as having proceeds of at least double the high estimate).

The complete lot by lot results can be found here.

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