Tim Eitel Leads Phillips $1.51m '20th Century & Contemporary Art: Online Auction, New York
3 min read · 21 Mar 2024
Blau und Gelb by Tim Eitel sold for $127,000. Image courtesy of Phillips
A work by Tim Eitel was the headline sale at Phillips '20th Century & Contemporary Art: Online Auction, New York' on March 20.
- The sale totaled $1.51m, meeting the pre-sale estimate.
Snapshot of the sale
- 146 works sold totaling $1.51m.
- Estimates totaled: $1.04m (low) and $1.55m (high), excluding premiums.
- The sell-through rate was 87% of the original 167 lots announced.
The star lot was: Tim Eitel, Blau und Gelb (2002), which sold for $127,000, 500% above its $20,000 low estimate. It has been traded once in the past.
The outperformer sold for 700% above its low estimate. Janet Sobel, Untitled (1946), sold for $16,500 ($2,000 low estimate). It has been traded once in the past.
Breakdown of results against auction house estimates that are disclosed
- 62 works, or 42%, sold above their high estimate.
- 45 works, or 31%, sold within their low and high estimate.
- 39 works, or 27%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
21 works were bought-in, including: Takashi Murakami, Untitled (Small Blue DOB) (1993), 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Withdrawn before the sale
0 works were withdrawn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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.