AO Auction Results — London: Phillips de Pury Contemporary Art Evening Auction, June 28, 2012

June 28th, 2012

Andy Warhol and Jean-Michel Basquiat’s Olympics (1984) which sold for a record-breaking price of £6 million

This evening in London, Phillips de Pury‘s Contemporary Art Evening exceeded pre-sale estimates of £15.1- £21.1 million, with sales totaling £23.4 million. Andy Warhol and Jean-Michel Basquiat‘s Olympics (1984) at £6 million broke the record for a Warhol-Basquiat collaboration. With three pieces in the auction selling for over a million pounds, the take was over twice the amount received just a year ago for the auction house. Of 30 original lots, 2 were withdrawn (including a Cindy Sherman piece) and 4 were passed on. Although the total sum was not as large as the sales of either Christie’s or Sotheby’s, it was the only auction house to surpass pre-sale estimates for this week.

Jean-Michel Basquiat, Irony of Negro Policeman  (1981) sold for the price of £8.1 million, just above its £8 million high estimate

Continuing with this week’s trend, a Jean-Michel Basquiat piece, Irony of Negro Policeman (1981) led the sales, fetching £8.1 million, slightly over its high estimate of £8 million. Michael McGinnis, head of contemporary art at Phillips commented: “We are thrilled with tonight’s results which demonstrate that works of rarity and of high quality… continue to attract strong bidding and excellent results.”

Wade GuytonU Sculpture (v. 5) (2007) which sold for £193,250, well over high estimate of £90,000

Andy Warhol, Gun (1981-2) which sold for £802,850 – just over high estimate of £800,000

Besides the record-breaking Olympics, Andy Warhol’s other pieces were also quite successful, selling in or beyond their estimated margins. Warhol’s silkscreen Gun sold over its high estimate of £800,000 at £802,850, while Princess Diana and Diamond dust shoes both realized a price within their estimates, at £993,250 and £1.1 million respectively.

Andy Warhol, Princess Diana (1982), which sold for £993,250 within its £900,000-1,200,000 estimate range

Andy Warhol, Diamond dust shoes (1980) which sold for £1.1 million, just over a low estimate of £1 million

Richard Prince, Untitled (cowboys) (1986) which sold for £601,250 within its £500-700,000 estimate

Tauba Auerbach, Binary Uppercase  (2006) which sold for £97,250 at an estimate of £30-50,000

Almost receiving a price double its high estimate, Tauba Auerbach‘s Binary Uppercase in acrylic on wood was sold for £97,250, one of the many that pushed the auction’s sales over its estimated earnings.

John Chamberlain, Opera Chocolates (1994) which sold at £421,250 within its £300-500,000 estimate

Anselm Kiefer, Die Woge (The Wave) (1995), which sold for £397,250 within its £350,000-450,000 estimate

Andreas Gursky, Siemens Karlsruhe (1991) which sold for £121,250 just above the low estimate of £120,000

Glenn BrownKinder Transport (1999) which sold for £481,250 under £500-700,000 estimate

Yves Klein, Petit Éponge SE 253 (1961) was passed on

Yves Klein, Monochrome Bleu (IKB277) estimated at £120-180,000 was passed on

Damien Hirst, Beautiful Big, Beyond Belief Tasteful Party Painting (2007), estimated £250-350,000, was passed on

George Condo, Young Lovers (2004) which was one of four passed on today at the auction

Four pieces, including George Condo‘s Young Lovers, a Damien Hirst 2007 spin painting, and two works by Yves Klein did not receive the expected reception needed to sell and were passed on.

—Z. Zabor

Related Links:

Phillips de Pury & Company [Auction Site]
Warhol, Basquiat Set World Record at Phillips [Forbes]
Phillips de Pury & Company Closes the Auction Season With Upbeat $36-Million [Artinfo]