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Phillips New York: Contemporary Art Evening Sale Auction Analysis

  • phillips new york auction analysis
  • phillips new york auction analysis
  • phillips new york auction analysis
May 17, 2015

On Thursday, May 14, an even-tempered auction has been seen at Phillips New York and their Contemporary Art Evening Sale. Out of 72 lots, 56 were sold, with more than half of them sold in the estimate range. Even though, the highest price was seen in the sale of Francis Bacon’s Seated Woman, a portrait from 1961, the biggest success was seen in the sale of lot 23 and James Lee Byars’ Eros scored the highest hammer high estimate difference.

Rare Francis Bacon’s Female Nudes

The early 1960’s, and for more or less much of the rest of his life, one sees Bacon personalize the body, often painting himself, his lovers and, most prominently, his circle of friends, fellow artists and drinking companions. It is from this select group of friends, executed in 1961 – the year the artist moved to his now famous studio at 7 Reece Mews, where his greatest masterpieces were executed – that Seated Woman (Portrait of Muriel Belcher) comes from. Muriel Belcher and Francis Bacon met in 1948. It is said that she adopted Bacon as her “daughter” the day after she opened the Colony Room on Dean Street in Soho, London and he became her first patron. In the early days of their relationship Belcher paid the artist £10 a week to bring in his friends and rich patrons to the Colony Room. Bacon was allowed to drink for free, at a cost to Belcher of significantly more than the £10 he earned for introductions.

  • phillips new york auction analysis

The Overview Of Phillips New York: Contemporary Art Evening Sale Auction

We already mentioned that out of 72 lots 56 were sold, making that a great 77.8 percent of sold lots. A poor number of 6 of sold lots achieved prices over high estimates, or 10.7 percent, as oppose to 19 lots sold under low estimate, which is a third with 33.9 percent. Most of the lots, or 31 lots, were sold in range of estimated value with 55.4 percent. The auction gathered $83135000 which is almost 5 million dollars more than the sum of low estimates for sold lots, but at the same time around 30 million dollars less than the high estimate sums of sold lots. The highest hammer price was seen in the sale of previously mentioned Bacons’s work Seated Woman  which was sold for $25000000. Average hammer price at this auction was $1484554. Hammer price median was $615000 (this means that the same number of lots were sold for more than $615000 and for less than $615000). The difference between average hammer price and median was -58.6 percent, which means that almost the same number of lots were sold bellow this auction’s average price as above it.

Besides already mentioned Francis Bacon and James Lee Byars, Jonas Wood painting B. Taschen made a notable result. We have seen couple of more lots going for the price higher than 3 million dollars: Agnes Martin’s Untitled #7, Brice Marden’s Elements (Hydra), Hedge by Mark Tensey and Rudolf Stingel’s Untitled. Two untitled John Chamerlain’s artwork failed to meet even the low estimate, and the same scenario was seen with the sale of lot 26 – Block by Rachel Whitered.

Dear readers, please scroll down for info on prices of the most interesting lots of Phillips New York: Contemporary Art Evening Sale Auction.

phillips new york auction analysis
Jonas Wood – B Taschen, 2010, (lot 72) (Estimated at $100,000 – $150,000. Sold for $250,000)
phillips new york auction analysis
Left: James Lee Byars – Eros, 1992, (lot 23) (Estimated at $150,000 – $200,000. Sold for $350,000) / Right: James Lee Byars – The Figure of Death, 1986, (lot 24) (Estimated at $300,000 – $500,000. Sold for $630,000)
phillips new york auction analysis
Left: Rudolf Stingel – Untitled, 2012, (lot 10) (Estimated at $4,000,000 – $6,000,000. Sold for $4,100,000) / Right: Rachel Whiteread – Block, 2005, (lot 26) (Estimated at $150,000 – $200,000. Sold for $100,000)
phillips new york auction analysis
Left: Mark Tensey – Hedge, 2011, (lot 12) (Estimated at $3,500,000 – $4,500,000. Sold for $4,900,000) / Right: Agnes Martin – Untitled #7, 1984, (lot 44) (Estimated at $2,500,000 – $3,500,000. Sold for $3,600,000)
phillips new york auction analysis
Left: John Chamberlain – Untitled (Tiny Piece), 1961, (lot 14) (Estimated at $200,000 – $300,000. Sold for $150,000) / Right: John Chamberlain – Untitled, 1967, (lot 15) (Estimated at $700,000 – $1,000,000. Sold for $550,000)
phillips new york auction analysis
Left: Francis Bacon – Seated Woman, 1961, (lot 33) (Estimated at $25,000,000 – $35,000,000. Sold for $25,000,000)/ Right: Brice Marden – Elements (Hydra), 1999, (lot 17) (Estimated at $8,000,000 – $12,000,000. Sold for $8,100,000)
  • phillips new york auction analysis

Phillips New York: Contemporary Art Evening Sale In Details

Please, scroll down to find out more about each lot that was auctioned at Phillips New York: Contemporary Art Evening Sale Auction – find out their estimated values, hammer prices and find out which lots weren’t sold.

Lot No.Artist NameArtwork NameYearLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
1Seth PriceVintage Bomber2008200000300000220000-26.710
2Danh VoWe the People (detail)2011250000350000Not SoldNot SoldNot Sold
3Jim HodgesSee II2003500000700000550000-21.410
4Joe BradleyPolice Painting 22008100000015000001000000-33.30
5Urs FischerUntitled (Candle)2001140000018000001300000-27.8-7.1
6Richard PrinceUntitled (Protest Painting)1994500000700000580000-17.116
7Christopher WoolUntitled (S176)2005140000018000001400000-22.20
8Cindy ShermanUntitled #4702008300000500000320000-366.7
9Jean-Michel BasquiatKrong Thip (Torso)198340000006000000Not SoldNot SoldNot Sold
10Rudolf StingelUntitled2012400000060000004100000-31.72.5
11Rudolf StingelUntitled200010000001500000950000-36.7-5
12Mark TanseyHedge20113500000450000049000008.940
13Robert RymanUntitled19597000001000000800000-2014.3
14John ChamberlainUntitled (Tiny Piece)1961200000300000150000-50-25
15John ChamberlainUntitled19677000001000000550000-45-21.4
16John ChamberlainOpinion Hurling2006200000300000180000-40-10
17Brice MardenElements (Hydra)1999-2000/20018000000120000008100000-32.51.2
18Fred SandbackBroadway Boogie Woogie (Sculptural Study, Twenty-two part Vertical Construction)1991/2006400000600000450000-2512.5
19Ed RuschaPorch Crop2001180000025000001800000-280
20Ed RuschaFee1971250000350000320000-8.628
21Ed RuschaRooster1970250000350000320000-8.628
22Ed RuschaPsycho Spaghetti Western #80-11600000800000800000033.3
23James Lee ByarsEros199215000020000035000075133.3
24James Lee ByarsThe Figure of Death198630000050000063000026110
25Rudolf StingelUntitled1996100000015000001400000-6.740
26Rachel WhitereadBlock2005150000200000100000-50-33.3
27Andreas GurskyJames Bond Island II2007500000700000600000-14.320
28Jeff WallThe Bridge1980500000700000400000-42.9-20
29Carroll DunhamTime Storm Three (Tree of Life)2005-09400000600000400000-33.30
30Jean-Michel BasquiatUntitled19828000001200000700000-41.7-12.5
31Alexander CalderJaney Waney (intermediate maquette)196920000003000000Not SoldNot SoldNot Sold
32Cy TwomblyUntitled196020000003000000Not SoldNot SoldNot Sold
33Francis BaconSeated Woman1961250000003500000025000000-28.60
34Pablo PicassoBuste de Mousquetaire1968200000030000002200000-26.710
35Constantin BrancusiL'Enfant endormi1906-078000001200000Not SoldNot SoldNot Sold
36Fernand LégerObjets dans l'espace (Objects in space)193125000003500000Not SoldNot SoldNot Sold
37Frank StellaDouble Scramble1978200000025000001800000-28-10
38Helen FrankenthalerPavillion197110000001500000950000-36.7-5
39Larry PoonsJessica's Hartford19658000001200000920000-23.315
40Jules OlitskiBasium Blush1960350000450000320000-28.9-8.6
41Frank StellaLa prima spada e l'ultima scopa1983600000800000600000-250
42Kenneth NolandMysteries: Aglow2002600000800000500000-37.5-16.7
43Dan Flavinmonument for V. Tatlin1964-65180000025000001800000-280
44Agnes MartinUntitled #719842500000350000036000002.944
45Donald JuddUntitled196910000001500000800000-46.7-20
46Robert RymanSign198215000002500000Not SoldNot SoldNot Sold
47Anselm KieferSan Loretto20096000008000008500006.341.7
48Gerhard RichterGrey (Grau)200310000001500000900000-40-10
49Neo RauchFastnacht20108000001200000750000-37.5-6.3
50Georg BaselitzGelb No1991300000500000320000-366.7
51Andreas GurskyDortmund2009500000700000Not SoldNot SoldNot Sold
52Günther FörgOhne Titel1990300000500000480000-460
53Günther FörgOhne Titel1992200000300000280000-6.740
54SturtevantOldenburg Store Object, Bacon and Egg1967400000600000Not SoldNot SoldNot Sold
55Wayne ThiebaudHamburger Counter1961120000018000001800000050
56Tom WesselmannStill Life with Blue Jar and Smoking Cigarette (flat)198180000012000001150000-4.243.8
57John CurrinThe Owens1994150000025000001400000-44-6.7
58Robert IndianaA President's Beloved Norma Jean2000600000800000Not SoldNot SoldNot Sold
59Keith HaringUntitled198220000003000000Not SoldNot SoldNot Sold
60Alberto GiacomettiTête de Diego au col roulécirca 195410000001500000900000-40-10
61Jean-Michel BasquiatUntitled (Wooden Triptych)1981600000800000Not SoldNot SoldNot Sold
62Takashi MurakamiArmy of Mushrooms20027000001000000Not SoldNot SoldNot Sold
63Takashi MurakamiJellyfish Eyes - Saki200410000001500000Not SoldNot SoldNot Sold
64Ai WeiweiCoca-Cola2012400000600000Not SoldNot SoldNot Sold
65Alex IsraelUntitled (Flat)2012300000500000300000-400
66Mark GrotjahnUntitled (Blonde Butterfly 804)2009300000400000375000-6.325
67Sterling RubySP1962012500000700000550000-21.410
68Tauba AuerbachCrease I200910000001500000Not SoldNot SoldNot Sold
69Danh VoCorona-Victoria Box2013200000300000190000-36.7-5
70Nate LowmanWhite Maxima2005200000300000180000-40-10
71Joe BradleyPig2009600000800000600000-250
72Jonas WoodB. Taschen201010000015000025000066.7150
TOTAL:9850000014185000083135000-41.4-15.6
TOTAL (Sold lots):7825000011180000083135000-25.66.2
INDEXRESULT
Total number of lots:72
Number of sold lots:56
Sold lots [%]:77.8
Total [$]:83135000
Number of sold lots over high estimate:6
Over high estimate (Total) [%]:8.3
Over high estimate (Sold) [%]:10.7
Number of sold lots in range of estimated values:31
In range of estimated values (Sold) [%]:55.4
Number of sold lots under low estimate:19
Under low estimate (Sold) [%]:33.9
Results were under estimate spread of [%]:30.6
Max Hammer [$]:25000000
Average Hammer [$]:1484554
Median Hammer [$]:615000
Median Hammer Average Hammer Difference [%]:-58.6

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All images are courtesy of Phillips New York.