Basquiat's Untitled (ELMAR) Leads Phillips New York Auction at $46.5M

On May 14, 2024, Phillips conducted its Modern and Contemporary Art Evening Sale at its headquarters on Park Avenue, aligning with Christie's auctions despite a cyberattack affecting Christie's website. The event garnered a total of $86,297,799, highlighted by Jean-Michel Basquiat's Untitled (ELMAR) (1982), which sold for $46.5 million from Francesco Pellizzi's collection. Jean-Paul Engelen, President of Phillips, expressed pride in achieving the highest-estimated lot of the week. Another Basquiat piece, Untitled (Portrait of Famous Ballplayer) (1981), brought in $7,892,500. Additionally, Helen Frankenthaler's Acres (1959) sold for $3,690,000, while Kent Monkman's The Storm (2020) achieved a record of $381,000. Jadé Fadojutimi's The Poor (2022) exceeded expectations, selling for $1,079,500 against a $400,000 estimate.