Auction Results: Under the Influence, September 19, 2013 @Phillips

The photography included in Phillips’ Under the Influence sale last week generally performed to expectations. With a Buy-In rate under 30% and Total Sale Proceeds that fell within the pre-sale range, it was a workmanlike start to the auction season.

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

Summary Statistics
Total Lots 63
Aggregate Pre Sale Low Estimate $732000
Aggregate Pre Sale High Estimate $1068000
Total Lots Sold 45
Total Lots Bought In 18
Buy In % 28.57%
Total Sale Proceeds $807625

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

Detailed Breakdown
Low Total Lots 21
Total Low Lots Sold 16
Total Low Lots Bought In 5
Low Buy In % 23.81%
Aggregate High Estimate of Low Lots $151000
Total Proceeds from Low Lots $135125
Mid Total Lots 41
Total Mid Lots Sold 29
Total Mid Lots Bought In 12
Mid Buy In % 29.27%
Aggregate High Estimate of Mid Lots $847000
Total Proceeds from Mid Lots $672500
Total High Lots 1
Total High Lots Sold 0
Total High Lots Bought In 1
High Buy In % 100.00%
Aggregate High Estimate of High Lots $70000
Total Proceeds from High Lots $0

The top lot by High estimate was lot 88, Vik Muniz, Bette Davis from Pictures of Diamonds, 2004, estimated at $50000-70000; it did not sell. The top outcome of the sale was lot 87, Alex Prager, Despair, 2010, estimated at $30000-50000, sold at $62500.

73.33% of the lots that sold had proceeds in or above the estimate range, and there were a total of 3 surprises in the sale (defined as having proceeds of at least double the high estimate):

Lot 97, Wolfgang Tillmans, Lighter, Green I, 2000, estimated at $15000-20000, sold at $56250 (image above, middle, via Phillips)

Lot 131, Vik Muniz, New York Movie after Hopper from the series Pictures of Pigment, 2006, estimated at $20000-30000, sold at $60000 (image above, left, via Phillips)

Lot 132, Vik Muniz, Hobo from the series Clayton Days, 2000, estimated at $3000-4000, sold at $35000 (image above, right, via Phillips)

Complete lot by lot results can be found here.

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Read more about: Vik Muniz, Wolfgang Tillmans, Phillips

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