Andy Warhol Leads Phillips $5.26m 'Evening & Day Editions' Auction
3 min read · 19 Jan 2024
Queen Elizabeth II of the United Kingdom, from Reigning Queens (Royal Edition) by Andy Warhol sold for $304,500. Image courtesy of Phillips
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).
Breakdown of results against auction house estimates that are disclosed
- 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Withdrawn before the sale
1 work was withdrawn before the sale: Antony Micallef, Light Angel Bomber I (2006) estimated at $382 (low) to $636 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.
