Appraiser Workshops: Results: Phillips De Pury Contemporary Sales

5/12/2012

Results: Phillips De Pury Contemporary Sales

With much attention focused on the contemporary evening art sales at both Sotheby's and Christie's it can be easy to forget about other players in the fine art market. Phillips De Pury had a very good week of contemporary art sales as well, selling $10.6 million at the day sale and an strong $86.9 million at the evening sale. That totals an impressive $97.5 million for contemporary art sales at Phillips.

The evening sale sold 80% of the 44 offered lots and 92% by value, with the day sale selling 75% by lot and 80% by value. The pre sale estimates for the evening sale was $75.9 million to $110.7 million, so the sale was toward the lower end of expectations. There were 11 lots in the sale which had guarantees. The top selling lot at the evening sale was by Jean-Michel Basquiat, Untitled (see image), selling for $16,322,500.

Phillips reported on the sale

The phone banks were buzzing this morning when lively bidding sessions ensued for a number of works including Adam McEwen, Sorry We’re Dead, 2002; Josh Smith, Untitled, 2003; Yayoi Kusama, Infinity Nets, 2002; and Alexander Calder, Untitled, 1960 and Red and Yellow Among Blacks, 1974. Some works commanded prices four times the estimated high.

“We produced very solid results and I am very proud of what we were able to accomplish this season. Phillips de Pury continues to make a mark in the contemporary art market and I look forward to building on this momentum in the fall” Sarah Mudge, Head of Day Sale, New York.

Top Ten Lots Evening Sale:

Lot 6 Jean-Michel Basquiat, Untitled, $16,322,500
Lot 19 Willem de Kooning Untitled VI, $12,402,500
Lot 8 Andy Warhol, Mao, $10,386,500
Lot 4 Andy Warhol, Gun, $7,026,500
Lot 25 Cy Twombly, Untitled (Bolsena), $6,242,500
Lot17 Roy Lichtenstein, Brushstroke Nude, $5,458,500
Lot 3 Christopher Wool, Untitled (S 69), $4,002,500
Lot10 Roy Lichtenstein, Still Life with Cash Box, $3,442,500
Lot 5 Maurizio Cattelan, Daddy Daddy, $2,546,500
Lot 14 Andy Warhol, Statue of Liberty, $2,434,500
Artist World Records Evening Sale:

Lot 6 Jean-Michel Basquiat, Untitled, $16,322,500
Lot 42 Seth Price, Untitled, $92,500
Lot 44 Dana Schutz, Death Comes to All, $482,500