Phillips' New Now auction format targets young artists

Phillips held its New Now auction on September 28, 2022 in New York, featuring over 250 lots primarily of ultra-contemporary works. The format, launched in 2015, focuses on emerging talents alongside established names, offering accessible price points. Top lots included Ana Benaroya's 'Be My Babe' (2019) selling for $116,000 against a $20,000 low estimate, and Alteronce Gumby's 'I heard colors, I saw songs' (2021) achieving $40,320. Kristy Chan's 'The Bathtub I've Always Wanted No. 15' (2019) sold above $40,000; Pat Phillips' 'Untitled (a horse with no name)' jumped from $8,000 to $63,000. Established names like Shara Hughes, Rafa Macarrón, and Louis Fratino also performed well, with Fratino's 'Grapefruit Breakfast' (2017) reaching $277,200. George Condo's 'White + Grey Composition' (1989) sold for nearly $290,000. Patrizia Koenig, head of sales, noted that New Now serves as a market bellwether, with many introduced artists later appearing in evening sales. The auction followed successful editions in March and April 2022 in New York and London.