3 min read · 25 Oct 2024
Cowboys and Indians by Andy Warhol sold for $825,500. Image courtesy of Phillips
A work by Andy Warhol was the headline sale at Phillips 'Editions & Works on Paper' auction on October 22-24 in New York.
The star lot was: Andy Warhol, *Cowboys and Indians * (1986), which sold for $825,500, 37% above its $600,000 low estimate. It has been traded twice in the past.
The outperformer sold for 535% above its low estimate. Andy Warhol, *Sitting Bull * (1986), sold for $190,500 ($30,000 low estimate).
Breakdown of results against auction house estimates that are disclosed
No sales had a guarantee.
43 works were bought-in, including: Ernst Ludwig Kirchner, Melancholie. - Nackte Frau. - Selbstbildnis mit Erna (Melancholy. - Naked Woman. - Self-Portrait with Erna) (1922), estimated at $70,000 (low) to $100,000 (high). It has been traded 3 times in the past.
3 works were withdrawn before the sale, including: Ellen Gallagher, Bouffant Pride (2003) estimated at $8,000 (low) to $12,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.