Auction Results: Under the Influence, April 8, 2014 @Phillips London

The results of the photography in Phillips’ recent Under the Influence auction in London were generally lackluster. A healthy overall Buy-In rate (over 35%) and few positive surprises led to Total Sale Proceeds that struggled to cover the low end of the pre sale estimate range.

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

Summary Statistics
Total Lots 48
Aggregate Pre Sale Low Estimate £301700
Aggregate Pre Sale High Estimate £445800
Total Lots Sold 31
Total Lots Bought In 17
Buy In % 35.42%
Total Sale Proceeds £310126

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

Detailed Breakdown
Low Total Lots 18
Total Low Lots Sold 13
Total Low Lots Bought In 5
Low Buy In % 27.78%
Aggregate High Estimate of Low Lots £56800
Total Proceeds from Low Lots £47876
Mid Total Lots 28
Total Mid Lots Sold 16
Total Mid Lots Bought In 12
Mid Buy In % 42.86%
Aggregate High Estimate of Mid Lots £299000
Total Proceeds from Mid Lots £182250
Total High Lots 2
Total High Lots Sold 2
Total High Lots Bought In 0
High Buy In % 0.00%
Aggregate High Estimate of High Lots £90000
Total Proceeds from High Lots £80000

The top lot by High estimate was lot 127, Vera Lutter, Kvaerner Shipyard, Rostock IX: December 5, 2000, 2000, estimated at £30000-50000; it sold for £32500. The top outcome of the sale was lot 30, Vik Muniz, Jackie (from Pictures of Chocolate), 2001, estimated at £30000-40000, sold at £47500 (image above, middle, via Phillips)

80.65% of the lots that sold had proceeds in or above the estimate range, and there were a total of 2 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 103, David Robbins, Talent, 1986, estimated at £2000-3000, sold at £7500 (image above, left, via Phillips)

Lot 104, Pierre Molinier, Three works: (i) Feminin Pluriel est Triste, 1967 (image above, right, via Phillips), (ii) Autoportrait, 1967, (iii) Autoportrait avec Godemi…, 1967, estimated at £1000-1500, sold at £7500

Complete lot by lot results can be found here.

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Read more about: David Robbins, Pierre Molinier, Vik Muniz, Phillips

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