The Fall auction season for photography got off to a mumbling, not quite awake start earlier this week at Phillips’ Under the Influence sale. With an overall Buy-In rate for photography over 30% and Total Sale Proceeds that missed the pre sale range by a decent margin, there was little action of note. Perhaps we can call it a walk before we run kind of moment.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 42 |
| Aggregate Pre Sale Low Estimate | $580000 |
| Aggregate Pre Sale High Estimate | $825000 |
| Total Lots Sold | 28 |
| Total Lots Bought In | 14 |
| Buy In % | 33.33% |
| Total Sale Proceeds | $431125 |
Here is the breakdown (using the Low, Mid, and High definitions from the preview post):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 19 |
| Total Low Lots Sold | 13 |
| Total Low Lots Bought In | 6 |
| Low Buy In % | 31.58% |
| Aggregate High Estimate of Low Lots | $125000 |
| Total Proceeds from Low Lots | $81750 |
| Mid Total Lots | 20 |
| Total Mid Lots Sold | 13 |
| Total Mid Lots Bought In | 7 |
| Mid Buy In % | 35.00% |
| Aggregate High Estimate of Mid Lots | $440000 |
| Total Proceeds from Mid Lots | $255625 |
| Total High Lots | 3 |
| Total High Lots Sold | 2 |
| Total High Lots Bought In | 1 |
| High Buy In % | 33.33% |
| Aggregate High Estimate of High Lots | $260000 |
| Total Proceeds from High Lots | $93750 |
The top lot by High estimate was lot 56, Thomas Demand, Abgang/Exit, 2000, estimated at $80000-120000; it did not sell. The top photography outcome of the sale was lot 55, Matthew Barney, Cremaster 2: The Ballad of Max Jensen, 1999, estimated at $60000-80000, sold at $50000 (image above, right, via Phillips).
Only 71.43% of the lots that sold had proceeds in or above the estimate range, and there was only 1 surprise in the sale (defined as having proceeds of at least double the high estimate):
Lot 69, Andy Warhol, Keith Haring, 1985, estimated at $5000-7000, sold at $16250 (image above, left, via Phillips)
Complete lot by lot results can be found here.
