Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Third Party Guarantees Help Phillips Make Progress Toward Growth

February 10, 2016 by Marion Maneker

Shiraga, Zuisouhen (1.02m GBP) jpg

The Master, Judd Tully, did his usual sedulous research on Phillips evening sale. Tully points out that Phillips is still using third party guarantees to build market share. From the looks of the numbers he reports, those guarantees aren’t prodding “artificial” prices.

Overall, Italians still did well but British artists, the category that many are hoping to see a resurgence in (judging by consignments,) did not.

Some see a flight to saftey, exemplified by Tully’s quote from Nicola Cardi, “People are still interested in the safe material.”

Here are some of the prices and buyers Tully picked out as telling:

Latifa Echakhch’s shaped canvas abstraction “Tambour 88” from 2013, which sold to a telephone bidder for £122,500/$175,175 (est. £50-70,000)

Yayoi Kusama’s obsessively patterned “Infinity Nets OPQR” in acrylic on canvas from 2007, sold to another anonymous telephone bidder for £746,500/$1,067,495 (est. £500-700,000). It last sold at Phillips de Pury & Company New York in May 2012 for $662,500, a return for the seller.

Jim Hodges’s brass chain “Angels Voice” from 1993, closely resembling an elaborate spider web and offered with an installation template and certificate of authenticity from the artist, sold to Ed Tang of Sotheby’s recently acquired Art Agency Partners on behalf of a private client for £410,500/$587,015 (est. £300-500,000). It last sold at Phillips de Pury New York in November 2007 for a then buoyant $505,500.

Damien Hirst’s big, color dotted “Hydrastinine” from 2007, in household gloss on canvas, sold for £602,500/$861,575 (est. £500-700,000),

Phillips’ Respectable $35.1M 20th Century & Contemporary Art Sale (BLOUIN ARTINFO)

More from Art Market Monitor

  • Power and PublicityPower and Publicity
  • Christie’s Reveals $45m Monet ‘Haystack’ for NovemberChristie’s Reveals $45m Monet ‘Haystack’ for November
  • The Australian art market, 1996-2010The Australian art market, 1996-2010
  • Atticus Buys Sotheby's StakeAtticus Buys Sotheby's Stake
  • Invaluable Raises $33m After Announcing Partnerships with eBay and Chinese Auction PlatformInvaluable Raises $33m After Announcing Partnerships with eBay and Chinese Auction Platform
  • Gilbert & George: Jack FreakGilbert & George: Jack Freak

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • After Pandemic’s Rapid Change, Sotheby’s Has 8 Predictions for 2021
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Tony Podesta's Secret Art Buying
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • A Season of Improvisation: Fall 2020 New York Modern and Contemporary Art Auction Analysis
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Phillips Includes $2.5m Norman Rockwell Painting in November Evening Sale
  • Tracey Emin Neon Lights Up Sotheby's 'Contemporary Showcase' Pop-Up
  • $5 M. Cecily Brown's Carnival and Lent to Star in Christie's London Session of July Evening Sale
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor