Andy Warhol Leads Phillips $5.26m 'Evening & Day Editions' Auction

A work by Andy Warhol was the headline sale at Phillips 'Evening & Day Editions' auction on January 17-18.

• The sale totaled $5.26m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 273 works sold totaling $5.26m.
• Estimates totaled: $3.39m (low) and $4.89m (high), excluding premiums..
• The sell-through rate was 92% of the original 298 lots announced.

The star lot was: Andy Warhol, Queen Elizabeth II of the United Kingdom, from Reigning Queens (Royal Edition) (1985), which sold for $304,500, 19% above its $254,500 low estimate.

The outperformer sold for 700% above its low estimate. George Condo, More Sketches of Spain - for Miles Davis: one plate (1991), sold for $15,300 ($1,908 low estimate).

• 171 works, or 63%, sold above their high estimate.
• 67 works, or 25%, sold within their low and high estimate.
• 35 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

24 works were bought-in, including: Andy Warhol, Goethe (1982), estimated at $63,600 (low) to $89,100 (high). It has not been traded before.

Withdrawn before the sale

1 work was withdrawn before the sale: Antony Micallef, Light Angel Bomber I (2006) estimated at $382 (low) to $636 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.