Auction Results: Under the Influence, March 7, 2014 @Phillips

While Phillips had the least amount of photography value on offer during last week’s Armory sales, it did an admirable job with what it had to sell. The overall Buy-In rate came in under 25% and the Total Sale Proceeds flirted with the high end of the pre sale range.

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

Summary Statistics
Total Lots 41
Aggregate Pre Sale Low Estimate $654000
Aggregate Pre Sale High Estimate $943000
Total Lots Sold 31
Total Lots Bought In 10
Buy In % 24.39%
Total Sale Proceeds $896875

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

Detailed Breakdown
Low Total Lots 10
Total Low Lots Sold 8
Total Low Lots Bought In 2
Low Buy In % 20.00%
Aggregate High Estimate of Low Lots $65000
Total Proceeds from Low Lots $73750
Mid Total Lots 29
Total Mid Lots Sold 21
Total Mid Lots Bought In 8
Mid Buy In % 27.59%
Aggregate High Estimate of Mid Lots $738000
Total Proceeds from Mid Lots $641875
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 $140000
Total Proceeds from High Lots $181250

The top lot by High estimate was tied between two lots: lot 147, Matthew Barney, Cremaster 5: Her Giant, 1997, and lot 232, Vik Muniz, Catherine Deneuve (from Pictures of Diamonds), 2004, both estimated at $50000-70000; the Barney was the top outcome of the sale at $118750, while the Muniz sold for $62500.

87.10% of the lots that sold had proceeds in or above the estimate range, and there were 3 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 106, Hugh Scott-Douglas, Untitled 032, 2011, estimated at $20000-30000, sold at $81250 (image above, middle, via Phillips)

Lot 216, Sigmar Polke, Ohne Titel, 1984, estimated at $8000-10000, sold at $20000 (image above, left, via Phillips)

Lot 314, Ken Lum, Miss Vancouver, 1987, estimated at $2000-3000, sold at $13750 (image right, above, via Phillips)

Complete lot by lot results can be found here.

Send this article to a friend

Read more about: Hugh Scott-Douglas, Ken Lum, Sigmar Polke, Phillips

Leave a comment

Your email address will not be published.

Recent Articles

Tom de Peyret, 1 New York Times Plaza, NY 11356

Tom de Peyret, 1 New York Times Plaza, NY 11356

JTF (just the facts): Published in 2024 by Poursuite Editions (here). Softcover, 21 x 29 cm, 144 pages, with 107 black-and-white and color reproductions. Includes an essay by Clément Ghys ... Read on.

Sign up for our weekly email newsletter