Anish Kapoor Leads Phillips $9.02m 'Modern & Contemporary Art Day Sale, Afternoon Session' in New York

A work by Anish Kapoor was the headline sale at Phillips 'Modern & Contemporary Art Day Sale, Afternoon Session' on May 15 in New York.

• The sale totaled $9.02m, meeting the pre-sale estimate.

Snapshot of the sale

• 113 works sold totaling $9.02m.
• Estimates totaled: $8.14m (low) and $11.73m (high), excluding premiums.
• The sell-through rate was 79% of the original 143 lots announced.

The star lot was: Anish Kapoor, Random Triangle Mirror (2016), which sold for $673,100, 68% above its $400,000 low estimate. It has been traded once in the past.

The outperformer sold for 1500% above its low estimate. Dan Colen, Mother (Well) (2018), sold for $165,100 ($10,000 low estimate). It has been traded once in the past.

• 52 works, or 46%, sold above their high estimate.
• 40 works, or 35%, sold within their low and high estimate.
• 21 works, or 19%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

5 works were backed by guarantees, including: Eric Fischl, Motel (1984). It sold for $381,000, 27% above its $300,000 low estimate.. It has been traded twice in the past.

Works that did not sell

26 works were bought-in, including: Wade Guyton, Untitled (2009), estimated at $250,000 (low) to $350,000 (high). It has been traded once in the past.

Withdrawn before the sale

4 works were withdrawn before the sale, including: Rashid Johnson, Ruffus (2013) estimated at $120,000 (low) to $150,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.