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On May 17, Phillips hosted its 20th Century and Contemporary Art Auction Night, which provided the paddle ensemble with something of a pre-Christie’s megawatt aperitif. sale of the collection of Gerald Fineberg modern and post-war giants. The evening was marked by two intrepid bidders taking home a handful of the night’s most sought-after works – and also by the sale’s modest hammer, below estimate. Below is the story in numbers…
20th Century and Contemporary Phillips Auctions
- Total sales after fees: $70 million
- Lots sold (including guaranteed lots): 33
- Lots offered before withdrawals: 41
- Lots withdrawn Presale: 4
- Lots purchased: 4
- Sale rate including withdrawals: 80.5%
- Sale rate excluding withdrawals: 89%
- Total Hammer: $58 million
- Low pre-sale estimate before withdrawals: $60 million
- Hammer Total vs Presale Low Estimate: -2 million dollars
- Total low estimate of withdrawn batches: $2.6 million
- Total Low Estimate of Guaranteed Lots: $39.3 million (65.5% of total pre-sale low estimate)
- Lots with house guarantees: 2
- Total low estimate of guaranteed third-party prizes: $38 million (63.3% of total presale estimate)
- Lots with third-party guarantees: 15
- Top rated seller: by Banksy Banksquiat. Boy and dog in Stop and Search (2018)hammered in at $7.1 million (or $9.7 million after costs)
- Quote of the night: “This approach is something uniquely Phillips, and we are grateful for the hard work of our global team in building an auction that so brilliantly captures the breadth of the category,” Jean-Paul wrote. Engelen and Robert Manley in a joint statement. on how 80% of the lots put up for sale that evening were appearing at auction for the first time.
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