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 Of 30 original lots, 2 were withdrawn (including a Cindy Sherman piece) and 4 were passed on.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 Guyton, U 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 Brown, Kinder 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]
