Phillips New York auction falls short with Basquiat unsold
On November 19, Phillips held its Modern & Contemporary Art Evening Sale in New York, achieving $54.1 million—down 23% from the $70 million garnered in 2023. The auction comprised 30 lots, with three being withdrawn, and only five lots surpassed their estimates. More than a third of the pieces sold for less than anticipated. The highest-selling artwork was Jackson Pollock's Untitled (1948), fetching $15.3 million, followed by Cy Twombly's Crimes of Passion I at $6.1 million, and Jeff Koons' Two Ball Total Equilibrium Tank at $3.6 million. Four lots, including Jean-Michel Basquiat's Self-Portrait, estimated at $10 million, remained unsold. Li Hei Di set a record with Unfolding a Flood at $127,000, while Elizabeth Peyton's Kurt (Sunglasses) sold for $2.4 million, and Andy Warhol's New York Skyscrapers achieved $952,500.
Key facts
- Phillips New York auction generated $54.1 million, down 23% from 2023
- Basquiat's Self-Portrait unsold with $10 million estimate
- Top lot: Jackson Pollock's Untitled (1948) at $15.3 million
- Cy Twombly's Crimes of Passion I from Eric Clapton's collection sold for $6.1 million
- Jeff Koons sculpture sold for $3.6 million, down from $6.9 million in 2013
- Li Hei Di set auction record with Unfolding a Flood at $127,000
- Derek Fordjour's Twelve Tribes achieved $1.1 million, a new record
- Andy Warhol's Trump Tower painting sold for $952,500
Entities
Artists
- Jean-Michel Basquiat
- Jackson Pollock
- Cy Twombly
- Jeff Koons
- Claes Oldenburg
- Li Hei Di
- Jadé Fadojutimi
- Matthew Wong
- Elizabeth Peyton
- Derek Fordjour
- Andy Warhol
- Alighiero Boetti
- Eric Clapton
- Donald Trump
- Martin Margulies
- Cristina Masturzo
Institutions
- Phillips
- Christie's
- Pace Gallery
- ARTnews
- Artribune
Locations
- New York
- United States