Fernand Leger Leads Phillips $84.72m 'Living the Avant-Garde: The Triton Collection, Evening Sale Part I' in New York
3 min read · 15 Nov 2023
Le 14 juillet by Fernand Leger sold for $17.62m. Image courtesy of Phillips
A work by Fernand Leger was the headline sale at Phillips 'Living the Avant-Garde: The Triton Collection Foundation, Evening Sale Part I' on November 14 in New York.
- The sale totaled $84.72m, meeting the pre-sale estimate.
Snapshot of the sale
30 works sold totaling $84.72m.
Estimates totaled: $73.29m (low) and $103.8m (high), excluding premiums.
The sell-through rate was 100%, so a white-glove sale.
The star lot was: Fernand Leger, Le 14 juillet (1911), which sold for $17.62m, 17% above its $15m low estimate. It has been traded 3 times in the past.
The outperformer sold for 400% above its low estimate. Gino Severini, Mare = Ballerina (1913), sold for $444,500 ($80,000 low estimate). It has been traded 3 times in the past.
Breakdown of results against auction house estimates that are disclosed
8 works, or 27%, sold above their high estimate.
14 works, or 47%, sold within their low and high estimate.
8 works, or 27%, sold below their low estimate.
0 sold with undisclosed estimates.
All 30 works had a guarantee.
Works that did not sell
0 works were bought-in.
Withdrawn before the sale
0 works were withdrawn
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.