Takashi Murakami Leads Phillips $10.4m 'Modern & Contemporary Art Day Sale, Afternoon Session' in New York

A work by Takashi Murakami was the headline sale at Phillips 'Modern & Contemporary Art Day Sale, Afternoon Session' on November 20 in New York.

• The sale totaled $10.4m, meeting the pre-sale estimate.

Snapshot of the sale

• 93 works sold totaling $10.4m.
• Estimates totaled: $9.36m (low) and $13.32m (high), excluding premiums.
• The sell-through rate was 82% of the original 114 lots announced.

The star lot was: Takashi Murakami, Together with the Flower Parent and Child (2021), which sold for $762,000, 90% above its $400,000 low estimate. It has been traded once in the past.

The outperformer sold for 450% above its low estimate. Thomas Houseago, Standing Owl I (2012), sold for $330,200 ($60,000 low estimate). It has been traded once in the past.

• 50 works, or 54%, sold above their high estimate.
• 33 works, or 35%, sold within their low and high estimate.
• 10 works, or 11%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

2 works were backed by guarantees, including: Georg Baselitz, Der Brief von der Front (Laktionov) (1998). It sold for $508,000, 27% above its $400,000 low estimate.. It has been traded once in the past.

Works that did not sell

19 works were bought-in, including: Rudolf Stingel, Untitled (2014), estimated at $600,000 (low) to $800,000 (high). It has been traded once in the past.

Withdrawn before the sale

2 works were withdrawn before the sale, including: Andre Butzer, Calvin Cohn Disziplinar (2004) estimated at $80,000 (low) to $120,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.