The various owner Photographs auction at Phillips in London last week began with a twist – the first 12 lots, all 19th century works from French makers and with an aggregate high estimate of £730000, were withdrawn from the sale. When the dust settled on the rest of the action, the overall Buy-In rate came in near 25%, but with few positive surprises to boost the tally, the Total Sale Proceeds fell below the low end of the aggregate pre-sale estimate range.
The summary statistics are below (all results include the buyer’s premium):
| Summary Statistics | |
|---|---|
| Total Lots | 108 |
| Aggregate Pre Sale Low Estimate | £1280000 |
| Aggregate Pre Sale High Estimate | £1886000 |
| Total Lots Sold | 79 |
| Total Lots Bought In | 29 |
| Buy In % | 26.85% |
| Total Sale Proceeds | £1270875 |
Here is the breakdown (using our typical Low, Mid, and High definitions):
| Detailed Breakdown | |
|---|---|
| Low Total Lots | 8 |
| Total Low Lots Sold | 8 |
| Total Low Lots Bought In | 0 |
| Low Buy In % | 0.00% |
| Aggregate High Estimate of Low Lots | £40000 |
| Total Proceeds from Low Lots | £40000 |
| Mid Total Lots | 80 |
| Total Mid Lots Sold | 57 |
| Total Mid Lots Bought In | 23 |
| Mid Buy In % | 28.75% |
| Aggregate High Estimate of Mid Lots | £856000 |
| Total Proceeds from Mid Lots | £584625 |
| Total High Lots | 20 |
| Total High Lots Sold | 14 |
| Total High Lots Bought In | 6 |
| High Buy In % | 30.00% |
| Aggregate High Estimate of High Lots | £990000 |
| Total Proceeds from High Lots | £646250 |
The top lot by High estimate was lot 28, William Eggleston, Dust Bells Volume II, 1965-1974/2004, estimated at £80000-120000. It was also the top outcome of the sale at £93750 (image above, via Phillips).
93.67% of the lots that sold had proceeds in or above the estimate range and there were a total of 5 positive surprises in the sale (defined as having proceeds of at least double the high estimate) (images above via Phillips):
Lot 77, Carlo Mollino, Untitled (2 prints), 1960s, estimated at £4000-6000, sold at £28750
Lot 93, André Kertész, Meudon, 1928/later, estimated at £4000-6000, sold at £13750
Lot 96, Francesca Woodman, Untitled, Providence, Rhode Island, 1976/later, estimated at £5000-7000, sold at £15000
Lot 99, Francesca Woodman, Untitled, Providence, Rhode Island, from Space2, 1977/later, estimated at £5000-7000, sold at £21250
Lot 112, Nan Goldin, Kim in Rhinestones, Paris, 1991, estimated at £3000-5000, sold at £10625
The complete lot by lot results can be found here.
