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 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
No sales had a guarantee.
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.
3 works were withdrawn before the sale, including: Robert Colescott, Medical Doctor (1973) estimated at $300,000 (low) to $500,000 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.