Helen Frankenthaler Leads Phillips $2.9m 'Modern & Contemporary Art' Auction in New York

A work by Helen Frankenthaler was the headline sale at Phillips 'Modern & Contemporary Art' auction on July 16 in New York.

• The sale totaled $2.88m, falling short of its pre-sale low estimate.

Snapshot of the sale

• 95 works sold totaling $2.88m.
• Estimates totaled: $2.94m (low) and $4.24m (high), excluding premiums.
• The sell-through rate was 77% of the original 123 lots announced.

The star lot was: Helen Frankenthaler, Untitled (1980), which sold for $228,600, 185% above its $80,000 low estimate. It has been traded twice in the past.

The outperformer sold for 484% above its low estimate. Wilhelm Lehmbruck, Mädchenkopf auf schlankem hals (1913), sold for $29,200 ($5,000 low estimate). It has been traded 3 times in the past.

• 38 works, or 40%, sold above their high estimate.
• 25 works, or 26%, sold within their low and high estimate.
• 32 works, or 34%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

25 works were bought-in, including: Peter Halley, Spree (2021), estimated at $90,000 (low) to $120,000 (high). It has been traded once in the past.

Withdrawn before the sale

3 works were withdrawn before the sale, including: Robert Longo, Untitled (Black Sky) (2011) estimated at $150,000 (low) to $200,000 (high).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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.