George Condo Leads Phillips $1.93m 'Modern & Contemporary Art: Online Auction, New York'

A work by George Condo was the headline sale at Phillips 'Modern & Contemporary Art: Online Auction, New York' on July 2.

• The sale totaled $1.93m, meeting the pre-sale estimate.

Snapshot of the sale

• 152 works sold totaling $1.93m.
• Estimates totaled: $1.56m (low) and $2.27m (high), excluding premiums.
• The sell-through rate was 83% of the original 184 lots announced.

The star lot was: George Condo, Untitled (2007), which sold for $69,800, 39% above its $50,000 low estimate. It has not been traded before.

The outperformer sold for 2016% above its low estimate. Kati Heck, Skizze Einladung (2021), sold for $6,350 ($300 low estimate). It has been traded once in the past.

• 65 works, or 43%, sold above their high estimate.
• 52 works, or 34%, sold within their low and high estimate.
• 35 works, or 23%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

32 works were bought-in, including: Katherine Bernhardt, Barney (2021), estimated at $40,000 (low) to $60,000 (high). It has been traded once in the past.

Withdrawn before the sale

0 works were withdrawn

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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.