Phillips Modern & Contemporary Art: Online Auction, New York Totals $1.32m

A work by Adam Pendleton was the headline sale at Phillips 'Modern & Contemporary Art: Online Auction, New York' on September 21-30 in New York.

• The sale totaled $1.32m, meeting the pre-sale estimate.

Snapshot of the sale

• 135 works sold totaling $1.32m.
• Estimates totaled: $1.31m (low) and $1.92m (high), excluding premiums.
• The sell-through rate was 73% of the original 186 lots announced.

The star lot was: Adam Pendleton, Black Dada Drawing (C/A) (2021), which sold for $71,000, 254% above its $20,000 low estimate. It has been traded once in the past.

The outperformer sold for 609% above its low estimate. Thornton Dial, Birds Created by Trees and People (Life Go On) (Undated), sold for $7,095 ($1,000 low estimate). It has been traded once in the past.

• 43 works, or 32%, sold above their high estimate.
• 57 works, or 42%, sold within their low and high estimate.
• 35 works, or 26%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

50 works were bought-in, including: Secundino Hernandez, Untitled (2014), estimated at $26,000 (low) to $35,000 (high). It has not been traded before.

Withdrawn before the sale

1 work was withdrawn before the sale: Andre Butzer, Untitled (2017), estimated at $7,000 (low) to $10,000 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.