Andy Warhol Leads Phillips $3.97m Evening & Day Editions Auction

A work by Andy Warhol was the headline sale at Phillips 'Evening & Day Editions' auction on January 22-24 in London.

• The sale totaled $3.97m (GBP2.95m), exceeding the pre-sale high estimate.

Snapshot of the sale

• 165 works sold totaling $3.97m.
• Estimates totaled: $2.03m (low) and $2.97m (high), excluding premiums.
• The sell-through rate was 99% of the original 166 lots announced.

The star lot was: Andy Warhol, Queen Elizabeth II of the United Kingdom, from Reigning Queens (1985), which sold for $312,300, 131% above its $135,100 low estimate.

The outperformer sold for 995% above its low estimate. Richard Hamilton, Six Figures (1940), sold for $14,800 ($1,351 low estimate).

• 126 works, or 76%, sold above their high estimate.
• 32 works, or 19%, sold within their low and high estimate.
• 7 works, or 4%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

0 works were bought-in.

Withdrawn before the sale

1 work was withdrawn before the sale: Louise Bourgeois, Together (2005) estimated at $13,500 (low) to $20,300 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.