Monday, April 18, 2011

Auction Results: BRIC, April 14 and 15, 2011 @Phillips London

The results of the BRIC sale at Phillips in London last week were generally uneventful, with the two Rashid Rana lots bringing in nearly half of the photography proceeds. The overall Buy-In rate was nearly 40% and the Total Sale Proceeds for photography came in just under the low end of the estimate range. With no positive surprises, there were no individual outcomes really worth mentioning, and thus no accompanying images for this results review.
The summary statistics are below (all results include the buyer’s premium):

Total Lots: 56
Pre Sale Low Total Estimate: £722000
Pre Sale High Total Estimate: £971000
Total Lots Sold: 34
Total Lots Bought In: 22
Buy In %: 39.29%
Total Sale Proceeds: £719600
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):

Low Total Lots: 18
Low Sold: 13
Low Bought In: 5
Buy In %: 27.87%
Total Low Estimate: £73000
Total Low Sold: £55625
Mid Total Lots: 32
Mid Sold: 16
Mid Bought In: 16
Buy In %: 50.00%
Total Mid Estimate: £318000
Total Mid Sold: £150125
High Total Lots: 6
High Sold: 5
High Bought In: 1
Buy In %: 16.67%
Total High Estimate: £580000
Total High Sold: £513850

The top lot by High estimate was lot 25, Rashid Rana, Veil IV, 2007, at £250000-300000; it was also the top outcome of the sale at £301250.
97.06% of the lots that sold had proceeds in or above the estimate range. There were no surprises in this sale (defined as having proceeds of at least double the high estimate).

Complete lot by lot results can be found here.

Phillips De Pury & Company
Howick Place
London SW1P 1BB

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