3 min read · 18 Apr 2024
Moonwalk by Andy Warhol sold for $463,500. Image courtesy of Phillips
A work by Andy Warhol was the headline sale at Phillips 'Editions & Works on Paper' auction on April 16-17 in New York.
The star lot was: Andy Warhol, Moonwalk (1987), which sold for $463,500, 275% above its $120,000 low estimate.
The outperformer sold for 800% above its low estimate. Andy Warhol, Pear (1957), sold for $19,700 ($2,000 low estimate). It has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
38 works were bought-in, including: Sam Francis, Untitled (1973), estimated at $25,000 (low) to $35,000 (high). It has been traded 3 times in the past.
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.