Monday, April 19, 2010

Auction Results: Photographs, April 16, 2010 @Phillips

The various owner Photographs auction at Phillips last Friday generally matched expectations, with a buy-in rate near 30% and total sale proceeds at the lower end of the range. I'd say it was a "good enough" outcome, with few in the way of meaningful surprises.

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

Total Lots: 349
Pre Sale Low Total Estimate: $3155400
Pre Sale High Total Estimate: $4488100
Total Lots Sold: 245
Total Lots Bought In: 104
Buy In %: 29.80%
Total Sale Proceeds: $3470675

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

Low Total Lots: 242
Low Sold: 169
Low Bought In: 73
Buy In %: 30.17%
Total Low Estimate: $1447100
Total Low Sold: $1058500

Mid Total Lots: 93
Mid Sold: 65
Mid Bought In: 28
Buy In %: 30.11%
Total Mid Estimate: $1911000
Total Mid Sold: $1389375

High Total Lots: 14
High Sold: 11
High Bought In: 3
Buy In %: 21.43%
Total High Estimate: $1130000
Total High Sold: $1022800

The top lot by High estimate was lot 216, Edward Steichen, Wheelbarrow with Flower Pots, France, 1920, at $150000-200000; it was also the top outcome of the sale at $194500 (image at right, top, via Phillips).

90.20% of the lots that sold had proceeds in or above the estimate range. There were a total of 7 surprises in this sale (defined as having proceeds of at least double the high estimate):
Lot 1, Lillian Bassman, Blowing Kiss, Barbara Mullen, New York, c1958/Later, at $10625 (image at right, via Phillips)
Lot 174, Vik Muniz, Hands from Pictures of Soil, 1997, at $25000
Lot 238, Walker Evans, Display Sign, Birmingham, Alabama, 1936/Later, at $6875
Lot 256, Peter Beard, Hunting Cheetahs on the Taru Desert, Kenya, 1960/1998, at $50000
Lot 291, O. Winston Link, NW1103, Hot Shot Eastbound at the Iager Drive-In, West Virginia, 1956/1983, at $27500
Lot 297, Weegee, Twin Bed Distortion, c1950, at $6875
Lot 329, Shikanosuke Yagaki, Blinds with Sunlight, 1930s, at $10000

Complete lot by lot results can be found here.

450 West 15th Street
New York, NY 10011

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