Phillips Contemporary Art Evening

February 16, 2015

It has been an evening of painting and sculpture at Phillips Auction House in London couple of days ago. It is quite clear that we are talking about a highly successful auction in terms of number of sold lots. If we compare it to Sotheby’s Contemporary Art Evening, on the one hand, we can see that there is similar outcome, although the Phillips auction has had a smaller number of lots. On the other hand, in comparison to Christie’s Post-War and Contemporary Evening, there is a higher number of sold lots, although we can see similarities when it comes to the outcome. But, let us turn to the highs and lows of Phillips Contemporary Art Evening…

Phillips
Mark Bradford - Biting the Book, 2013 (lot 11)

What do the Figures Say?

First of all, it is interesting to see that although only 2 pieces were left unsold, there isn’t a big number of lots which were auctioned for a value higher than the higher estimate. This would explain the total of sold lots adding up to $22,804,544, i.e. a difference of 22% under the total of high estimated values and almost 16% difference in terms total of low estimated values. To be precise, only 4 lots were sold for a price higher than the high estimate. Exactly half of sold lots were pieces which found new owners for a price which was in range of estimated values. A total of 10 lots were sold under the low estimate. So, which were the unsold and which pieces achieved interesting prices?

Phillips
Cecily Brown - Park, 2004 (lot 17)

The Unsold of Phillips Contemporary Art Evening and More…

In terms of pieces which hadn’t achieved an expected outcome, there are five lots to which we would like to point your attention. First of all, the two unsold pieces: Park (2004) by Cecily Brown, lot 17, and Settlement (2005) by Antony Gormley, lot 20, did not find new owners. In terms of achieving a price that was lower than the low estimated value, pieces by Urs Fischer, Bad TimingLamb Chop!, and Fredrik Værslev, Untitled (Canopy Painting: Blue and Orange V), were sold for prices 30 percent lower than the low estimated value. Right behind them is a piece by Nate Lowman, Six Shooter, which achieved a price 25% lover than the low estimate. Let us, however, turn to the highpoints of the auction…

Phillips
Antony Gormley - Settlement, 2005 (lot 20)

Seven Digits and other Highlights at Phillips Contemporary Art Evening

The most expensive piece sold at the auction (perhaps expectedly), but still under the high estimated value, was sculptural work by Ai WeiweiCircle of Animals/Zodiac Heads was sold for $3,815,000. Although a lower score, one of the most significant highlights was lot 11, Biting the Book by Mark Bradford, which was sold for $3,357,200. This piece achieved a price 46% higher than the high estimated value. the 3 million mark was also achieved with lot number 13: Andy Warhol’s Diamond Dust Shoes were sold for $3,052,000 (a price which was in range of estimated values). Pieces by Tauba Auerbach and Christopher Wool were sold for prices which were in range of estimated values and higher than $1 million.

In order to find out how artworks by Jean-Michel Basquiat, Anish Kapoor or Orscar Murillo, be sure to check out the detailed figures on the next page.

Next page: Phillips Contemporary Art Evening – Detailed Auction Figures

Phillips
Tauba Auerbach - Untitled (Fold) X, 2009 (lot 7)

Phillips
Christopher Wool - Untitled, 2003 (lot 9)

Phillips
Anselm Kiefer - Die Argonauten, 2008 (lot 19)

Phillips
Andy Warhol - Diamond Dust Shoes, 1980

Featured image: Ai Weiwei - Circle of Animals / Zodiac Heads (lot 8)

Phillips Contemporary Art Evening – Detailed Auction Figures

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Featured image: Antony Gormley - Settlement, 2005 (lot 20)
All images courtesy of phillips.com

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