Phillips Editions & Works on Paper Auction Totals $2.48m

A work by Andy Warhol was the headline sale at Phillips 'Editions & Works on Paper' auction on April 22-23 in New York.

• The sale totaled $2.48m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 134 works sold totaling $2.48m.
• Estimates totaled: $2.89m (low) and $4.21m (high), excluding premiums.
• The sell-through rate was 86% of the original 155 lots announced.

The star lot was: Andy Warhol, Grace Kelly (1984), which sold for $193,500, 93% above its $100,000 low estimate. It has been traded twice in the past.

The outperformer sold for 467% above its low estimate. Robert Indiana, Classic Love (1995), sold for $11,400 ($2,000 low estimate).

• 61 works, or 46%, sold above their high estimate.
• 58 works, or 43%, sold within their low and high estimate.
• 15 works, or 11%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

21 works were bought-in, including: Ed Ruscha, Standard Station; Mocha Standard; Cheese Mold Standard with Olive; and Double Standard (1966), estimated at $900,000 (low) to $1.2m (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Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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