Works by Claes Oldenburg and Robert Longo featured in our Park Avenue galleries for the October 2017 viewing of Editions & Works on Paper
The overall strength of the international art market channeled into our Editions sales in New York and London, resulting in global bidder participation and consistently spirited tallies. In fact, 2017 marked record sale totals for Editions in both London, with our January sale, and New York, with our April sale.
Our revolutionary marketing strategy for Editions auctions—featuring an Evening session, curated sale order and dynamic exhibitions—has now been adopted by many others. Many of these initiatives launched when the department originally formed at Phillips, in order to elevate the awareness of what a fine art edition is. They sewed the seeds for the department’s decade of growth and culmination of successes in 2017.
As we look to the year ahead, with 2018 marking our Editions category's tenth 'paper' anniversary, we take this opportunity to reflect on our most memorable moments of 2017.
1. Highest auction totals
Record sale totals for the January auction in London and the April auction in New York were the highest in the department’s history. Further yet, New York's $6.1 million result was the highest total since the department’s inception in 2008. The New York and London teams have dedicated their careers to the education and enlightenment of all tangents of print-and-multiples collecting.
2. The Piero Crommelynck Collection
Phillips kicked off our spring sales on 18 April with a selection of works from the collection of master printer Piero Crommelynck, including a number of unique working proofs and B.A.T. impressions. Once dubbed "the Prince of the printmakers," Piero Crommelynck was one of the most respected and renowned intaglio engravers of the early twentieth century, having worked in studios with Joan Miró and Pablo Picasso, among others.
The collection was 91% sold and doubled its pre-sale low estimate. A set of three progressive state etchings of Picasso’s Meninas (1973) by Richard Hamilton was the top seller from the collection, fetching $187,500 against an estimate of $40,000 to $60,000. Works by R.B. Kitaj and Jasper Johns also far exceeded their estimates, while modern working proofs by Joan Miró were the true highlight of the collection. Wrote Isabella Kendrick for Art in Print, Spring 2017 New York Auction Roundup, "Works by Joan Miró were also immensely popular, and many lots doubled and tripled their estimates with most bids coming from telephone bidders."
In our April video from Paris, Hubert Lacroix, Director of the Susse Foundry, joins our Worldwide Co-Head of Editions, Kelly Troester, to talk about the incredible works in the Crommelynck collection and the innovative artists, tools and techniques behind the collection.
3. Global recognition for David Hockney
The Editions team’s highest price achieved in 2017 was for David Hockney’s Steps with Shadow F (Paper Pool 2), 1978. This piece, which falls somewhere between printmaking and painting—indeed these works are included in the painting section of Hockney's own website—is one of sixteen variants made of hand-colored and pressed paper pulp. Selling during our January London sale for £629,000, well above the high estimate, this was a thrilling moment to witness that showcased our interest and success in offering unique works alongside more traditional editions.
Also unique and on hand-colored pressed paper pulp, the sale's subsequent lot, Hockney's Gregory in the Pool E (Paper Pool 4), 1978, sold for £485,000. Not surprisingly, one or more Hockneys were in the Top 10 for each of our Editions sales this past year.
2017 proved to be an exceptional year for Hockney with two major shows at Tate Britain and the Metropolitan Museum of Art, New York. With a forthcoming exhibition at LACMA, to be sponsored by Phillips this coming April, the artist's buzz will only continue into 2018.
David Hockney Steps with Shadow F (Paper Pool 2), 1978. Sold for £629,000.
David Hockney Gregory in the Pool E (Paper Pool 4), 1978. Sold for £485,000.
4. 20% record prices at each auction
Our global Editions sales continue to realize record auction prices for an average of 20% of all lots offered, which goes hand-in-hand with our position as industry leaders for our selling rates: 89.8% by lot, 95% by value, with over 1,200 prints offered for sale. Not only does this demonstrate our expertise with accurate and competitive sale estimates, but speaks to our superior ability to attract multiple bidders per lot.
We are proud that, on average, 25% of our bidders at each auction are new to Phillips—drawn to our sales by the quality of our catalogues and exhibitions. And yet, we retain a core group of dedicated print collectors who trust our expertise and turn to us for fresh to market, museum-quality works.
5. Phillips.com online bidding platform saw huge growth
With our October sale of Editions & Works on Paper in New York, "88% percent of the lots found buyers with 35% going to online purchasers. More than half of those online buyers were using Phillips’ own online channel, with the remainder bidding through intermediaries such as Artsy, Invaluable and eBay," said Andy Foster, our Chief Digital Officer, to Scott Reyburn for "The Art Market Is Still Waiting for an Online Revolution" in The New York Times.
At this same sale, described Reyburn, "Picasso’s masterful 1962 linocut Still Life with Glass under the Lamp sold to an online bidder for $250,000."
Pablo Picasso Nature morte au verre sous la lampe (Still Life with Glass under the Lamp), 1962. Sold for $250,000.
6. Successful partnerships with Artsy
In 2017, Phillips Editions and 20th Century & Contemporary Art departments partnered with Artsy to host two very successful online-only auctions. These two themed sales, “Summer School” in June and “Wrapped/Unwrapped” in December, were co-curated with the intention of introducing novice collectors to accessible and often affordable works of twentieth-century and emerging contemporary art, featuring both editioned and unique works.
We loved the cross-departmental feel and light-hearted themes, which made for fun work and brought to light special personalized quips from specialists and staff who participated in curating these sales. We look forward to presenting more online auctions in the year to come.
Artsy and Phillips specialists discuss Donald Baechler Coney Island, 1994 from Phillips x Artsy Summer School
6. Post-War and Pop see the most demand
For many of our collectors these days, post-war and pop is true art history, from the time before they were even born. This rationale can also be said for the most contemporary artists and their influences manifesting in 21st-century examples. It's fair to say most of the population cannot afford a Jackson Pollock painting, but they might get a similar experience from a Pat Steir waterfall print or a Damien Hirst spin piece. Says Cary Leibowitz, our Worldwide Co-Head of Editions, "The great thing about art is that it does seep through the cracks and into our lexicon and daily experiences. Viva Shaker kitchen cabinets and Donald Judd sofas!"
Pat Steir Red and Blue Berlin Waterfall, 1993. Sold for $3,500.
7. Andy Warhol continues to be the #1 artist
Andy Warhol continues to be the top artist in demand for both seasoned and new collectors in our sales. This past year, we offered the printmaking expert’s iconic Campbell’s Soup I portfolio, which fetched a whopping $347,000. We were also fortunate enough to offer many other prints spanning his various themes, from silkscreen portraits of famous figures like Beethoven and Ingrid Bergman to Superman, and his now retro-chic Moon Walk set.
Andy Warhol Moonwalk, 1987. Sold for $300,000.
Andy Warhol Beethoven, 1987, as seen in our London galleries. Sold for £299,000.
Sales for Warhol continue to be strong, and we look forward to offering more exemplary, colorful screenprints in 2018.