Derrick Adams Leads Phillips $289,100 'Works from the Lower East Side Printshop Archives' Auction
3 min read · 12 Sep 2024
Game Changing by Derrick Adams sold for $25,400. Image courtesy of Phillips
A work by Derrick Adams was the headline sale at Phillips 'Editions & Selected Works from the Lower East Side Printshop Archives: Online Auction' on September 11.
- The sale totaled $289,100, falling short of its pre-sale low estimate.
Snapshot of the sale
- 155 works sold totaling $289,100.
- Estimates totaled: $344,800 (low) and $540,500 (high), excluding premiums.
- The sell-through rate was 80% of the original 194 lots announced.
The star lot was: Derrick Adams, Game Changing (2015), which sold for $25,400, 69% above its $15,000 low estimate.
The outperformer sold for 789% above its low estimate. Claes Oldenburg, N.Y.C. Pretzel (A. & P. 250.5) (1994), sold for $889 ($100 low estimate).
Breakdown of results against auction house estimates that are disclosed
- 38 works, or 25%, sold above their high estimate.
- 45 works, or 29%, sold within their low and high estimate.
- 72 works, or 46%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
38 works were bought-in, including: Terry Winters, *Atmospheres * (2014), estimated at $10,000 (low) to $20,000 (high).
Withdrawn before the sale
1 work was withdrawn before the sale: Andy Warhol, *Cow * (1966) estimated at $6,000 (low) to $8,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.