Monday, March 14, 2011

Auction Results: Under the Influence, March 8, 2011 @Phillips

The proceeds for the photography in Phillips' Under the Influence sale last week exceeded expectations, covering the high estimate with room to spare. With some help from Barbara Kruger and a low Buy-In rate (under 15%), it was a solid result all around.

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

Total Lots: 55
Pre Sale Low Total Estimate: $375000
Pre Sale High Total Estimate: $532500
Total Lots Sold: 47
Total Lots Bought In: 8
Buy In %: 14.55%
Total Sale Proceeds: $654750

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

Low Total Lots: 40
Low Sold: 33
Low Bought In: 7
Buy In %: 17.50%
Total Low Estimate: $215500
Total Low Sold: $238500

Mid Total Lots: 15
Mid Sold: 14
Mid Bought In: 1
Buy In %: 6.67%
Total Mid Estimate: $317000
Total Mid Sold: $416250

High Total Lots: 0
High Sold: NA
High Bought In: NA
Buy In %: NA
Total High Estimate: $0
Total High Sold: NA

The top lot by High estimate was lot 143, Vik Muniz, After Mark Rothko (from Pictures of Colors), 2001, at $30000-40000; it sold for $68500. The top outcome of the sale was lot 89, Barbara Kruger, Ohne Titel - Lust, 2001, at $92500.

82.98% of the lots that sold had proceeds in or above the estimate range. There were a total of 6 surprises in this sale (defined as having proceeds of at least double the high estimate):

Lot 77, Ryan McGinley, Dash Bombing, New York, 2000, at $20000 (image at right, top, via Phillips)
Lot 84, Katy Grannan, Untitled (from Poughukeepsie Journal), 1999, at $10000
Lot 85, Katy Grannan, Untitled (from Poughkeepsie Journal), 1999, at $11250 (image at right, bottom, via Phillips)
Lot 89, Barbara Kruger, Ohne Titel - Lust, 2001, at $92500
Lot 102, Dionisio Gonzalez, Heliopolis IV, 2006, at $8125
Lot 185, Zhang Huan, Meat and Text (from 1/2 Series), 1998, at $20000 (image at right, middle, via Phillips)

Complete lot by lot results can be found here.
New York, NY 10022


450 West 15th Street
New York, NY 10011

1 comment:

Anonymous said...

Courtney Love bought both Barbara Kruger pictures. It was also nice to see Dash Snow of ''Dash Bombing'' helping out his old friend Ryan by raising RM's auction house profile.