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Banksy Leads Phillips 20th Century & Contemporary $22.35m Sale

2 min read  ·  16 Oct 2023

Forgive Us Our Trespassing by Banksy sold for $3.3m

Forgive Us Our Trespassing by Banksy sold for $3.3m

Discover key data points, top sellers and talking points at Phillips 20th Century & Contemporary Art Evening Sale on October 13, 2023.

All sales results are hammer prices plus premiums.

Auction breakdown

  • The sale totalled: $22.35m.
  • Pre-sale estimates (excluding premiums): $21.43m (low) and $29.46m (high).
  • The sell-through rate was 83% of the pre-sale 46 lots.
  • 38 works sold in the auction.

The top lot by value was: Banksy, Forgive Us Our Trespassing (2011), which had a guarantee and sold for $3.3m, 23% above estimate. The spray painted on plywood work, acquired directly from the artist, has not been traded before.

Breakdown of results against auction house estimates

Breakdown of results against auction house estimates

  • 14 works, or 30%, of works sold above their high estimate.
  • 23 works, or 50%, sold within their estimate.
  • 1 work, or 2%, sold below their low estimate.

Guaranteed works

2 works had a guarantee.

Guaranteed works included:

Henri Matisse, Grand Nu accroupi (Olga) (1909-10, cast 1952), which sold for $803,000, 21% above estimate. The bronze has been traded 5 times in the past.


2 works were bought-in.

Bought-in works included: Balthus, Étude pour ‘Le Peintre et son modèle’ (1977) estimated at $341,200 (low) to $487,500 (high). It has been traded 9 times in the past.

Bought-in works had a total estimated value of: $645,900 (low) to $914,000 (high).


6 works were withdrawn before the sale.

Withdrawn works included: Lucio Fontana, Concetto spaziale, Attese (1964) estimated at $1.71m (low) to $2.19m (high)

Withdrawn works had a total estimated value of $4.51m (low) to $6.09m (high).

$645,900 (low) and $914,000 (high) total estimates, of works brought in.

Talking point

Francesca Mollett, Two Thistles (2021), which sold for $309,210, 930% above estimate. It has been traded once in the past.

Auction jargon

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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.