Phillips - Modern & Contemporary Art Day Sale, Morning Session
May 15th, 2024 - New York
Executive Summary
The Phillips Modern & Contemporary Art Day Sale, Morning Session, featured 132 lots with a diverse range of artworks. The auction achieved a sell-through rate of 77.27%, indicating a healthy, albeit not overwhelming, demand. The total auction value reached $14,622,366, with a total hammer price of $11,513,674.02, falling short of the median estimate of $16,336,500. Despite this, a substantial buyer's premium of $3,108,691.98 was generated. The average price per lot was $143,356.53, revealing that while high-value pieces did find buyers, many sold for less than expected.