Rafa Macarron Leads Phillips $769,200 'Modern & Contemporary Art: Online Auction, London'

A work by Rafa Macarron was the headline sale at Phillips 'Modern & Contemporary Art: Online Auction, London' on September 17.

• The sale totaled $769,200 (GBP582,400), meeting the pre-sale estimate.

Snapshot of the sale

• 115 works sold totaling $769,200.
• Estimates totaled: $687,100 (low) and $1.01m (high), excluding premiums.
• The sell-through rate was 87% of the original 132 lots announced.

The star lot was: Rafa Macarron, Untitled (2012), which sold for $80,500, 75% above its $45,900 low estimate. It has been traded once in the past.

The outperformer sold for 924% above its low estimate. Theodore Ereira-Guyer, For Each Eye (2016), sold for $80,500 ($7,860 low estimate). It has been traded once in the past.

• 34 works, or 30%, sold above their high estimate.
• 36 works, or 31%, sold within their low and high estimate.
• 45 works, or 39%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

16 works were bought-in, including: Caroline Walker, Just Visiting (2004), estimated at $39,300 (low) to $65,500 (high). It has not been traded before.

Withdrawn before the sale

1 work was withdrawn before the sale: Helen Johnson, Untitled (2016) estimated at $19,700 (low) to $26,200 (high).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. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.