Andy Warhol Leads Phillips $11.55m '20th Century & Contemporary Day Sale, Morning Session' in New York
3 min read · 16 Nov 2023
Kimiko Powers by Andy Warhol sold for $952,500. Image courtesy of Phillips
A work by Andy Warhol was the headline sale at Phillips '20th Century & Contemporary Art Day Sale, Morning Session' on November 15 in New York.
- The sale totaled $11.55m, meeting the pre-sale estimate.
Snapshot of the sale
- 99 works sold totaling $11.55m.
- Estimates totaled: $10.4m (low) and $15.37m (high), excluding premiums.
- The sell-through rate was 82% of the original 120 lots announced.
The star lot was: Andy Warhol, Kimiko Powers (1972), which sold for $952,500, 200% above its $300,000 low estimate. It has been traded 4 times in the past.
The outperformer sold for 300% above its low estimate. Claude Lalanne, Pomme Bouche (1980), sold for $104,100 ($25,000 low estimate). It has been traded 3 times in the past.
Breakdown of results against auction house estimates that are disclosed
- 45 works, or 45%, sold above their high estimate.
- 41 works, or 41%, sold within their low and high estimate.
- 13 works, or 13%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
18 works were bought-in, including: Gerhard Richter, Abstraktes Bild (1984), estimated at $350,000 (low) to $550,000 (high). It has been traded 3 times in the past.
Withdrawn before the sale
3 works were withdrawn before the sale, including: Robert Colescott, Medical Doctor (1973) estimated at $300,000 (low) to $500,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.