3 min read · 24 Sep 2024
Details of Renaissance Paintings (Sandro Botticelli, Birth of Venus, 1482) by Andy Warhol sold for $328,100. Image courtesy of Phillips
A work by Andy Warhol was the headline sale at Phillips 'Evening & Day Editions' auction on September 19-20 in London.
The star lot was: Andy Warhol, *Details of Renaissance Paintings (Sandro Botticelli, Birth of Venus, 1482) * (1984), which sold for $328,100, 149% above its $131,400 low estimate. It has been traded once in the past.
The outperformer sold for 1178% above its low estimate. Takashi Murakami, 727 (2016), sold for $16,900 ($1,319 low estimate).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
28 works were bought-in, including: Donald Judd, *Untitled * (1990), estimated at $13,100 (low) to $19,700 (high).
1 work was withdrawn before the sale: Stik, Holding Hands (Teal, Orange, Red, Blue, Yellow) (2020) estimated at $3,957 (low) to $6,594 (high).
All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.