Andy Warhol Leads Phillips $8.53m Modern & Contemporary Art Auction

A work by Andy Warhol was the headline sale at Phillips 'Modern & Contemporary Art' auction on February 28 in New York.

• The sale totaled $8.53m, exceeding the pre-sale high estimate.

Snapshot of the sale

• 149 works sold totaling $8.53m.
• Estimates totaled: $5.46m (low) and $7.86m (high), excluding premiums.
• The sell-through rate was 89% of the original 167 lots announced.

The star lot was: Andy Warhol, Molly (1956), which sold for $412,800, 312% above its $100,000 low estimate. It has been traded twice in the past.

The outperformer sold for 2609% above its low estimate. Sarah Bernhardt, La Dormeuse (1878), sold for $135,400 ($5,000 low estimate). It has been traded 3 times in the past.

• 86 works, or 58%, sold above their high estimate.
• 41 works, or 28%, sold within their low and high estimate.
• 22 works, or 15%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

15 works were bought-in, including: John Mccracken, Feel (2000), estimated at $80,000 (low) to $120,000 (high). It has been traded twice in the past.

Withdrawn before the sale

3 works were withdrawn before the sale, including: Ed Ruscha, Blurred City (2025), estimated at $65,000 (low) to $85,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.