Kaws Leads Phillips $11.73m 'Modern & Contemporary Art Day Sale' in London
3 min read · 11 Oct 2024
UNTITLED by Kaws sold for $994,500. Image courtesy of Phillips
A work by Kaws was the headline sale at Phillips 'Modern & Contemporary Art Day Sale' on October 11 in London.
- The sale totaled $11.73m (GBP8.99m), meeting the pre-sale estimate.
Snapshot of the sale
- 123 works sold totaling $11.73m.
- Estimates totaled: $11.15m (low) and $16.25m (high), excluding premiums.
- The sell-through rate was 76% of the original 161 lots announced.
The star lot was: Kaws, UNTITLED (2015), which sold for $994,500, 199% above its $332,100 low estimate. It has been traded twice in the past.
The outperformer sold for 470% above its low estimate. Antony Gormley, Peckham Bollards (Peg, Snowman, Penis and Oval) (2021), sold for $112,700 ($19,800 low estimate). It has been traded once in the past.
Breakdown of results against auction house estimates that are disclosed
- 51 works, or 41%, sold above their high estimate.
- 52 works, or 42%, sold within their low and high estimate.
- 20 works, or 16%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
31 works were bought-in, including: Georg Baselitz, Ein Moderner Maler (Remix) (2007), estimated at $531,400 (low) to $797,000 (high). It has been traded once in the past.
Withdrawn before the sale
7 works were withdrawn before the sale, including: Anish Kapoor, Untitled (2007) estimated at $332,100 (low) to $464,900 (high).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. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.