Phillips Design: Online Auction Totals $498,100

A work by Verner Panton was the headline sale at Phillips 'Design: Online Auction' on September 3-10 in New York.

• The sale totaled $498,100, exceeding the pre-sale high estimate.

Snapshot of the sale

• 66 works sold totaling $498,100.
• Estimates totaled: $276,200 (low) and $403,500 (high), excluding premiums.
• The sell-through rate was 88% of the original 75 lots announced.

The star lot was: Verner Panton, Prototype "UFO" lamp (1975), which sold for $61,900, 1276% above its $4,500 low estimate.

The outperformer sold for 1276% above its low estimate. Verner Panton, Prototype "UFO" lamp (1975), sold for $61,900 ($4,500 low estimate).

• 35 works, or 53%, sold above their high estimate.
• 17 works, or 26%, sold within their low and high estimate.
• 14 works, or 21%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

9 works were bought-in, including: Philip Laverne And Kelvin Laverne, "Life Force" coffee table (1970), estimated at $12,000 (low) to $18,000 (high). It has been traded once in the past.

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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