PHILLIPS’ “WHITE GLOVE” MAY EVENING SALE OF MODERN & CONTEMPORARY ART MORE THAN DOUBLES AUCTION TOTAL FROM THE PREVIOUS YEAR

 

Robert Manley, Chairman and Worldwide Head, Modern and Contemporary Art, said, “The market is alive and well. It was a joy to present an Evening Sale that so wonderfully captures the strength, enthusiasm, and depth of the collecting community at every level. The sale kicked off with a bang, as the first three lots of the auction soared past their high estimates. Salman Toor, Cecily Brown, and Lee Bontecou commanded strong prices, with Bontecou’s extraordinary ​and exceedingly rare Untitled setting a new record for any two-dimensional work by the artist after nearly five minutes of bidding. We were also proud to set records for Pat Passlof in her Evening Sale debut, as well as P.S. Krøyer, and Joseph Yaeger. Demonstrated by these records, as well as works by Andy Warhol, to Claude Monet, and Helen Frankenthaler, it is clear that the demand for important works spanning the 19th, 20th, and 21st centuries endures.

 

Collectors also vied for works of important provenance. The enthusiasm for The Collection of Ambassador John L. Loeb, Jr. continued from Phillips’ London auctions into the saleroom this evening, with the works achieving a combined $8.4 million. It is our honor to also announce that, from this collection, Vilhelm Hammershøi’s Courtyard Interior at Strandgade 30 and Study of standing woman, seen from behind were both acquired by prominent institutions, underscoring Ambassador Loeb’s tremendous vision and Hammershøi’s lasting impact. Alongside the Loeb Collection, we were also proud to present works from the Estate of Tina Hills, including Joan Mitchell’s Plain, which achieved over $6.8 million. Works from both tremendously significant collections will continue to be offered this spring in the upcoming sales, and there is no doubt that the momentum will continue.

 

Amid the reverence for these incredible artworks, it has been wonderful to see our clients embrace Priority Bidding, Phillips’ industry-first initiative, which creates incentives for early engagement. A testament to its power, this Evening Sale saw a nearly six-fold increase in early selling bids year-over-year.”