Phillips Editions: Modernism Sale Totals $978,200
3 min read · 18 Sep 2026
Le déjeuner sur l'herbe, d'après Manet I (Luncheon on the Grass, After Manet I) by Pablo Picasso sold for $243,500. Image courtesy of Phillips
A work by Pablo Picasso was the headline sale at Phillips 'Editions: Modernism Sale' on September 17 in London.
- The sale totaled $978,200 (GBP725,600), exceeding the pre-sale high estimate.
Snapshot of the sale
- 42 works sold totaling $978,200.
- Estimates totaled: $595,100 (low) and $865,700 (high), excluding premiums.
- The sell-through rate was 95% of the original 44 lots announced.
The star lot was: Pablo Picasso, Le déjeuner sur l'herbe, d'après Manet I (Luncheon on the Grass, After Manet I) (1962), which sold for $243,500, 125% above its $108,000 low estimate.
La nageuse dans l'aquarium (The Swimmer in the Tank), plate 12 from Jazz by Henri Matisse sold for $38,300 (304% above estimate). Image courtesy of Phillips
The outperformer sold for 304% above its low estimate. Henri Matisse, La nageuse dans l'aquarium (The Swimmer in the Tank), plate 12 from Jazz (1947), sold for $38,300 ($9,447 low estimate).
- 28 works, or 67%, sold above their high estimate.
- 13 works, or 31%, sold within their low and high estimate.
- 1 works, or 2%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
2 works were bought-in, including: Pablo Picasso, La femme au fauteuil No. 3 (d'après le jaune) (Armchair Woman No. 3, From the Yellow) (1948), estimated at $20,200 (low) to $27,000 (high). It has not been traded before.
Withdrawn before the sale
0 works were withdrawn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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.
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