Wednesday, July 3, 2013

Auction Results: Contemporary Art Evening and Day Sales, June 27 and 28, 2013 @Phillips London

Cindy Sherman saved the day for the photography buried in Phillips' Contemporary Art sales in London last week. Her two lots in the Evening sale brought in more than half the total haul for photography across the two sales. With an overall Buy-In rate over 40%, the Total Sale Proceeds worked hard to get near the low estimate.

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

Total Lots: 32
Pre Sale Low Total Estimate: £1064000
Pre Sale High Total Estimate: £1528000
Total Lots Sold: 18
Total Lots Bought In: 14
Buy In %: 43.75%
Total Sale Proceeds: £1005250

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

Low Total Lots: 0
Low Sold: NA
Low Bought In: NA
Buy In %: NA
Total Low Estimate: £0
Total Low Sold: NA

Mid Total Lots: 16
Mid Sold: 9
Mid Bought In: 7
Buy In %: 43.75%
Total Mid Estimate: £258000
Total Mid Sold: £136250

High Total Lots: 16
High Sold: 9
High Bought In: 7
Buy In %: 43.75%
Total High Estimate: £1270000
Total High Sold: £869000

The top photography lot by High estimate was lot 6, Cindy Sherman, Untitled #426, 2004, at £200000-300000; it sold for £242500. The top photography outcome of the two sales was lot 8, Cindy Sherman, Untitled Film Still #36, estimated at £60000-80000, sold at £302500 (image at right, top, via Phillips).

100.00% of the lots that sold had proceeds above or in the estimate range. There was only one positive surprise in the two sales (defined as having proceeds of at least double the high estimate):

Lot 8, Cindy Sherman, Untitled Film Still #36, estimated at £60000-80000, sold at £302500

Complete lot by lot results can be found here (Evening) and here (Day).

Howick Place
London SW1P 1BB

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