It was a pretty dismal outcome for the photography included in Phillips' Under the Influence sale in London last week. With a Buy-In rate for photography topping 60% and no positive surprises, it is no surprise that the Total Sale Proceeds for photography missed the low end of the estimate range by a meaningful margin.
The summary statistics are below (all results include the buyer’s premium):
Total Lots: 41
Pre Sale Low Total Estimate: £221000
Pre Sale High Total Estimate: £318000
Total Lots Sold: 16
Total Lots Bought In: 25
Buy In %: 60.98%
Total Sale Proceeds: £116063
Here is the breakdown (using the Low, Mid, and High definitions from the preview post, here):
Low Total Lots: 11
Low Sold: 4
Low Bought In: 7
Buy In %: 63.64%
Total Low Estimate: £51000
Total Low Sold: £14000
Mid Total Lots: 30
Mid Sold: 12
Mid Bought In: 18
Buy In %: 60.00%
Total Mid Estimate: £267000
Total Mid Sold: £102063
High Total Lots: 0
High Sold: NA
High Bought In: NA
Buy In %: NA
Total High Estimate: £0
Total High Sold: NA
The top photography lot by High estimate was lot 122, Jitish Kallat, Cenotaph (A Deed of Transfer), 2007, at £18000-25000; it was also the top photography outcome of the sale at £20000.
81.25% of the lots that sold had proceeds above or in the estimate range, but that statistic is a little misleading, since only 3 photography lots sold above the range and there were no positive surprises (defined as having proceeds of at least double the high estimate).
Complete lot by lot results can be found here
Phillips
Howick Place
London SW1P 1BB
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