On Monday, April 13, works by important young artists had been on auction at Phillips auction house in London. The auction was called Under the influence, and it was an opportunity to get your contemporary artworks for fairly reasonable prices. Several artworks were sold for under $1,000, and only one was sold for more than $100,000. In this auction analysis, you'll find out which lots were the priciest ones, which were sold for much more than expected, and which ones didn't meet expectations.
Out of total of 188 lots that were on auction at Phillips: Under the influence, 120 lots were sold, or 63.8 percent. Thirty-two lots were sold over high estimate, 17 percent of total number of lots, and 26.7 percent of sold lots. There were 41 lots that were sold in range of estimated values (34.2 percent of sold lots), and 47 lots were sold under low estimate, or 39.2 percent of sold lots. These 120 lots that were sold, went for $1.49 million, -18.4 percent of sum of high estimates of sold lots ($1.83 million), but 20.3 percent more than sum of low estimates ($1.24 million).
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- Marc Quinn - Separation Of Body And Soul. YYRBGGYRRBWYYY, 2011 (Lot 68)
- Dirk Skreber - It Rocks Us So Hard, Ho Ho Ho 3, 2002 (Lot 86)
- Dmitry Shorin - Comet, 2012 (Lot 77)
All images courtesy of Phillips.
As we said, only one lot was sold above $100,000 - that was Marc Quinn's Separation of Body and Soul. YYRBGGYRRBWYYY from 2011, that was sold at its low estimate - for $117,168. Julian Opie's Woman taking off summer dress. 10 from 2003 was sold for $73,230, or for $21,000 more than its high estimate (with +42.9 percent difference between its hammer price and high estimate). Fredrik Værslev's Untitled (Terrazzo) from 2011 was sold bellow its low estimate, for $73,230 (it was estimated at $87,876 - $117,168), while Chris Succo's Everything In It's Right Place (BKNP) from 2014 had huge success, as it was estimated at $11,717 - $17,575, and was sold for $52,726. Yves Clerc's N°273 from 2007 also was successful, as it was sold for $43,938 (its estimated value was between $21,969 and $29,292), and Sarah Morris' Midtown Madison Square Garden (Stairwell) from 1998 changed hands for $43,938.
Stanley Casselman's Luminor 2-5 from 2014 was sold for $38,080, a hair above high estimate ($26,363 - $36,615), David Ostrowski's F (Deutscher Film in Russland) from 2013 changed owners for $35,150, and Adam McEwen's New York, New York from 2006 was sold for $32,221, way bellow its low estimate ($43,938 - $73,230). Donald Moffett's Untitled from 1995 was huge, as it was estimated at $8,788 - $11,717, and was sold for $29,292, Banks Violette's Untitled (Church) from 2005 also went above its high estimate for $27,827 (it was estimated at $14,646 - $21,969). Christian Rosa's Untitled from 2014 did poorly - it was sold for $26,363, and was estimated at $43,938 - $73,230, while Chen Lei's The Big Kiss from 2007 was sold for more than double of its high estimate, $24,898 (it was estimated at $7,323 - $10,252).
When we speak of lots that had biggest difference between hammer prices and high estimates, the mentioned Jamian Juliano-Villani's work The Man from Bozrah from 2014 had +200 percent difference. Chris Succo's Everything In It's Right Place (BKNP), also from 2014, also had +200 percent difference, and Matteo Negri's Andante Cantabile Con Moto from 2013 had +166.7 percent. Dario Robleto's The Sun Makes Them Sing Again from 1998 and 2008 had +160, and the only lot that had +150 percent or more was Donald Moffett's Untitled from 1995 - it had +150 percent difference between hammer price and high estimate. On the other hand, four lots were sold with -90 percent between their hammer prices and low estimates: two Robert Beck's works, Untitled (The House Tree Person Technique by John N. Buck / Schizophrenic Art by Margaret Naaumburg) from 2001-2005 and Untitled (The House Tree Person Technique by John N. Buck / Art and Therapy edited by Elinor Ulman and Penny Daschinger), also from 2001-2005, Inka Essenhigh's Cheer Leaders from 1997, and Marnie Weber's Swan Song from 2000.
If you scroll a bit more, you'll find out detailed info on every lot at Phillips: Under the Influence auction.