3 min read · 15 Nov 2024
Together with the Flower Parent and Child by Takashi Murakami sold for $762,000. Image courtesy of Phillips
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 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.
Breakdown of results against auction house estimates that are disclosed
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.
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.
2 works were withdrawn before the sale, including: Andre Butzer, Calvin Cohn Disziplinar (2004) estimated at $80,000 (low) to $120,000 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.