Jean-Michel Basquiat, Four Big (1982), final price: £8,605,250 via Christie’s

Capping off a week of auctions amid the hustle and bustle of London’s Frieze Week, Christie’s capped off a procedural auction in the British capital tonight, selling 41 of 46 lots to reach a final total of £64,507,125, a mark that seemed notably underwhelming after a string of works sold under estimate or near its low bound. A last note before the auctions in New York next month, the sale seemed to hint at more instability further down in the market, especially as the Britain’s exit from the E.U. grows increasingly confused, and increasingly perilous.

Sigmar Polke, Alpenveilchen/Flowers (1967), final price: £5,654,250, via Christie’s

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Banksy, Devolved Parliament (2009), final price £9,879,500, via Sotheby’s

Taking over from Phillips steady sale last night in London, Sotheby’s launched its own take on the Contemporary Art Market, albeit one with a little more unpredictability. The sale, one of the first since Sotheby’s formally became a privately traded company, saw 5 of works go unsold, and one massive record, as Banksy demolished his previous auction high, ultimately landing the auction house at a final tally of £54,386,250. Read More »

Alex Katz, Blue Umbrella I (1972), final price: £3,375,000 via Phillips

Marking the first of a trio of sales this weekend in London, Phillips Auction House made a strong opening note on a bustling week of sales last night, pulling interested buyers to its Berkeley Square location for a 43-lot offering that saw strong results and a £25,877,250 final on the night, with only 3 works on offer going unsold.

Hurvin Anderson, Beaver Lake (1998) final price: £2,175,000, via Phillips

The sale opened with a string of underpriced lots that surged beyond initial estimates, often doubling or tripling their price, among them pieces by Simone Leigh (£175,000), Nathaniel Mary Quinn (£212,500) and Tschabalala Self (£275,000). A George Condo work also performed well at £471,000, before the first pass of the evening on a Mark Grotjahn Butterfly. The sale regained its composure quickly, however, as the sale’s prized Mark Bradford finished at £1,935,000, followed close behind by a Hurvin Anderson piece that sold for the final price of £2,175,000.

Mark Bradford, Value 35 (2010), final price: £1,935,000 via Phillips

The sale continued at a brisk pace over the next lots, bringing up the evening’s cover lot, an Alex Katz painting that sold quickly over estimate to the tune of £3,375,000, while a Rudolf Stingel held its ground in the next lot at £1,035,000. Momentum carried the works through the meat of the auction, with a KAWS sculpture finishing above estimate for a final price of £1,455,000, and a Thomas Schütte work, Maschine, settling at the final of £1,215,000, squarely within estimated range. A Gerhard Richter Abstraktes Bild also performed well in the following lot, closing above estimate at £1,695,000. The sale was systematic from this point on, works selling quickly to bring the sale cruising to a strong conclusion.

The next auction is this evening at Sotheby’s.

KAWS, At This Time (2013), final price: £1,455,000, via Phillips

— D. Creahan

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Phillips 20th Century and Contemporary Evening Sale [Auction Page]