Derrick Adams Leads Phillips $289,100 'Works from the Lower East Side Printshop Archives' Auction

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).

• 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Withdrawn before the sale

1 work was withdrawn before the sale: Andy Warhol, *Cow * (1966) estimated at $6,000 (low) to $8,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.