Friday, March 15, 2013

Auction Results: Contemporary Art and Design Evening and Under the Influence, March 7 and 8, 2013 @Phillips New York

The results for the photographs buried in Phillips' two Armory week sales were generally as expected: the Buy-In rate for photography was under 30% and the Total Sale Proceeds for photography cleared the aggregate low estimate.

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

Total Lots: 86
Pre Sale Low Total Estimate: $1412000
Pre Sale High Total Estimate: $2002000
Total Lots Sold: 62
Total Lots Bought In: 24
Buy In %: 27.91%
Total Sale Proceeds: $1491150

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

Low Total Lots: 31
Low Sold: 20
Low Bought In: 11
Buy In %: 35.48%
Total Low Estimate: $232000
Total Low Sold: $184375

Mid Total Lots: 46
Mid Sold: 35
Mid Bought In: 11
Buy In %: 23.91%
Total Mid Estimate: $1040000
Total Mid Sold: $789775

High Total Lots: 9
High Sold: 7
High Bought In: 2
Buy In %: 22.22%
Total High Estimate: $730000
Total High Sold: $517000

The top photography lot by High estimate was lot 21, Richard Prince, Untitled (Massage), 1980-1981, estimated at $100000-150000; it sold for $146500.

87.10% of the lots that sold had proceeds in or above the estimate range. There were a total of 4 surprises in these sales (defined as having proceeds of at least double the high estimate):

Lot 133, Slater Bradley, Factory Ikon, 2007, estimated at $6000-8000, sold at $16250
Lot 134, Slater Bradley, Boulevard of Broken Dreams (Perine 02), 2009, estimated at $6000-8000, sold at $18750 (image at right, bottom, via Phillips)
Lot 267, Larry Sultan, Sharon Wild (from The Valley series), 2001, estimated at $4000-6000, sold at $21250 (image at right, middle, via Phillips)
Lot 279, Vitaliy and Elena Vasilieva, Ice (triptych), 2011, estimated at $25000-30000, sold at $106900 (image at right, top, via Phillips)

Complete lot by lot results can be found here (Contemporary Art and Design) and here (Under the Influence).

450 Park Avenue
New York, NY 10022

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