Phillips Editions & Works on Paper Auction Totals $3.4m

A work by Andy Warhol was the headline sale at Phillips 'Editions & Works on Paper' auction on October 22-24 in New York.

• The sale totaled $3.4m, meeting the pre-sale estimate.

Snapshot of the sale

• 172 works sold totaling $3.4m.
• Estimates totaled: $2.5m (low) and $3.73m (high), excluding premiums.
• The sell-through rate was 85% of the original 202 lots announced.

The star lot was: Andy Warhol, Apple, from Ads (1985), which sold for $270,900, 170% above its $100,000 low estimate.

The outperformer sold for 1276% above its low estimate. Howard Hodgkin, Bamboo (2000), sold for $41,300 ($3,000 low estimate).

• 84 works, or 49%, sold above their high estimate.
• 75 works, or 44%, sold within their low and high estimate.
• 13 works, or 8%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

30 works were bought-in, including: Andy Warhol, Mick Jagger (1975), estimated at $80,000 (low) to $120,000 (high).

Withdrawn before the sale

0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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