Andy Warhol Leads Christie's $66.58m 'Post-War & Contemporary Art Day Sale' in New York
3 min read · 11 Nov 2023
Endangered Species by Andy Warhol sold for $3.44m. Image courtesy of Christie's
A work by Andy Warhol was the headline sale at Christie's 'Post-War & Contemporary Art Day Sale' on November 10 in New York.
- The sale totaled $66.58m, meeting the pre-sale estimate.
Snapshot of the sale
- 220 works sold totaling $66.58m.
- Estimates totaled: $53.77m (low) and $79.26m (high), excluding premiums.
- The sell-through rate was 83% of the original 266 lots announced.
The star lot was: Andy Warhol, Endangered Species (1983), which sold for $3.44m, 71% above its $2m low estimate. It has been traded twice in the past.
The outperformer sold for 800% above its low estimate. Fernando Botero, Parrot (1981), sold for $1.86m ($200,000 low estimate). It has been traded twice in the past.
A talking point was Jason Rhoades, Three-Wheel Waggon-Wheel Chandelier (2004), which sold for $1.01m, an auction record for the artist, 400% above its $200,000 low estimate. The work has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
- 98 works, or 45%, sold above their high estimate.
- 92 works, or 42%, sold within their low and high estimate.
- 30 works, or 14%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
41 works were bought-in, including: Alexander Calder, Branches Sans Feuilles (1946), estimated at $900,000 (low) to $1.2m (high). It has been traded 7 times in the past.
Withdrawn before the sale
5 works were withdrawn before the sale, including: Claes Oldenburg, Clothespin (1974), estimated at $400,000 (low) to $600,000 (high).
Terms and definitions
All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Sale prices are compared to the auction house’s low estimate, which do not include premiums.
Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.
Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.
Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.
Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.