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Ed Ruscha Leads Phillips $14.36m 'Modern & Contemporary Sale, Morning Session' in New York

3 min read  ·  20 Nov 2024

Howl by Ed Ruscha sold for $1.48m.
Image courtesy of Phillips

Howl by Ed Ruscha sold for $1.48m. Image courtesy of Phillips

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

  • The sale totaled $14.36m, falling short of its pre-sale low estimate.

Snapshot of the sale

  • 95 works sold totaling $14.36m.
  • Estimates totaled: $14.48m (low) and $21.2m (high), excluding premiums.
  • The sell-through rate was 74% of the original 129 lots announced.

The star lot was: Ed Ruscha, Howl (1986), which sold for $1.48m, 146% above its $600,000 low estimate. It has been traded once in the past.

The outperformer sold for 693% above its low estimate. Herbert Bayer, Messages Through Atmosphere (1942), sold for $63,500 ($8,000 low estimate). It has been traded once in the past.

Breakdown of results against auction house estimates that are disclosed

Breakdown of results against auction house estimates that are disclosed

  • 43 works, or 45%, sold above their high estimate.
  • 40 works, or 42%, sold within their low and high estimate.
  • 12 works, or 13%, sold below their low estimate.
  • 0 sold with undisclosed estimates.

Guaranteed sales

3 works were backed by guarantees, including: Jean-Michel Basquiat, Arteries of the Left Arm (1983). It sold for $889,000, 11% above its $800,000 low estimate.. It has been traded once in the past.

Works that did not sell

30 works were bought-in, including: Isamu Noguchi, To Split and Carve (1979), estimated at $400,000 (low) to $600,000 (high). It has been traded twice in the past.

Withdrawn before the sale

4 works were withdrawn before the sale, including: Diego Rivera, Una familia de vendedores callejeros (Vendedores callejeros) (1936) estimated at $400,000 (low) to $600,000 (high).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.