Nicole Eisenman Leads Phillips $10.75m 'Modern & Contemporary Art Day Sale, Afternoon Session' in New York

A work by Nicole Eisenman was the headline sale at Phillips 'Modern & Contemporary Art Day Sale, Afternoon Session' on May 14 in New York.

• The sale totaled $10.75m, meeting the pre-sale estimate.

The comparable sale at Phillips New York in May 2024 totaled $9m.

Snapshot of the sale

• 106 works sold totaling $10.75m.
• Estimates totaled: $10.33m (low) and $15.01m (high), excluding premiums.
• The sell-through rate was 80% of the original 133 lots announced.

The star lot was: Nicole Eisenman, Team Shredder (2006), which sold for $546,100, 9% above its $500,000 low estimate. It has been traded 3 times in the past.

The outperformer sold for 1043% above its low estimate. Dan Colen, Mother (Hole in Tree) (2016), sold for $114,300 ($10,000 low estimate). It has not been traded before.

• 52 works, or 49%, sold above their high estimate.
• 42 works, or 40%, sold within their low and high estimate.
• 12 works, or 11%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

2 works were backed by guarantees, including: Nicolas Party, Speaker (2017). It sold for $228,600, 52% above its $150,000 low estimate.. It has been traded once in the past.

Works that did not sell

23 works were bought-in, including: Kaws, COMPANION (RESTING PLACE) (2013), estimated at $500,000 (low) to $700,000 (high). It has been traded twice in the past.

Withdrawn before the sale

4 works were withdrawn before the sale, including: Urs Fischer, Phosphorus (2015) estimated at $100,000 (low) to $150,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.