Auctioneer Danielle So at Phillips’ Modern & Contemporary Art Day Sale in Hong Kong on 1 June, 2024, selling Zao Wou-Ki’s 25.11. 81.
This Spring, the Phillips team set new benchmarks in the worlds of Art, Design, and Luxury—areas where we are proud to lead with innovation and expertise.
FOCUS, FLEXIBILITY, AND PERFORMANCE
Phillips has outperformed the market this spring through our global presence and strong relationships in the collecting community:
- Top Lot of the Season
Jean-Michel Basquiat’s Untitled (ELMAR) sold for US$46.5 million during Phillips’ Evening Sale of Modern & Contemporary Art in New York on 14 May, becoming the most expensive work sold anywhere at auction this season.
- Top Lot in Asia
Jean-Michel Basquiat’s Native Carrying Some Guns, Bibles, Amorites on Safari was offered in Hong Kong on 31 May and realized HK$99 million / US$12.6 million, the highest value work of this spring across all houses and categories in Hong Kong.
- Top Lot in Geneva
A magnificent 6.21ct oval-cut Fancy Vivid Pink, type IIa sold for CHF 10.9 million / US$12 million in Geneva, the highest value lot of the Geneva season across all categories. Our expansion into Jewels sales in Geneva combined with our unrivaled strength in Watches continue to set new standards across luxury markets.
ADDITIONAL SPRING 2024 HIGHLIGHTS
We continued to see success this spring on multiple fronts:
-
Phillips achieved a global sell-through rate of 87%.
-
41% of the buyers in Phillips’ spring auctions were first-time buyers.
-
Millennial and Gen Z collectors made up 26% of bidders and buyers.
-
Over 85% of lots sold within or above estimate.
-
We saw strong online participation, with 70% of works offered bought online.
-
Over 50% of the buyers on Dropshop this spring were new to Phillips.
TOP TEN LOTS | SPRING 2024
1. Jean-Michel Basquiat, Untitled (ELMAR), 1982. Estimate: US$40 – 60 million. SOLD FOR: US$46.5 million on 14 May, New York.
2. Jean-Michel Basquiat, Native Carrying Some Guns, Bibles, Amorites on Safari, 1982. Estimate: HK$90 – 120 million. SOLD FOR: HK$99 million / US$12.6 million on 31 May, Hong Kong.
3. Exceptional Fancy Vivid Pink diamond ring. Estimate: CHF9.5 – 13.6 million / US$10.5 – 15 million. SOLD FOR: CHF10.9 million / US$12 million on 13 May, Geneva.
4. Jean-Michel Basquiat, Untitled (Portrait of Famous Ballplayer), 1981. Estimate: US$6.5 – 8.5 million. SOLD FOR: $7.9 million on 14 May, New York.
5. Donald Judd, Untitled, 1978. Estimate: US$5.5 – 7.5 million. SOLD FOR: US$6 million on 14 May, New York.
6. Banksy, The Leopard and Lamb, 2016. Estimate: HK$18 – 28 million / US$2.3 – 3.6 million. SOLD FOR: HK$36.8 million / US$4.7 million on 31 May, Hong Kong.
7. Helen Frankenthaler, Acres, 1959. Estimate: US$1.8 – 2.5 million. SOLD FOR: US$3.7 million on 14 May, New York.
8. Yayoi Kusama, INFINITY NETS (ZGHEB), 2007. Estimate: HK$20 – 30 million. SOLD FOR: HK$25.9 million / US$3.3 million on 31 May, Hong Kong.
9. Barkley L. Hendricks, Vendetta, 1977. Estimate: US$2.5 – 3.5 million. SOLD FOR: US$3.2 million on 14 May, New York.
10. Andy Warhol, Portrait of Princess Diana, 1982. Estimate: £1.2 – 1.8 million. SOLD FOR: £2.4 million / US$3.1 on 7 March, London.
TOP LOTS BY CATEGORY | SPRING 2024
Modern & Contemporary Art
Jean-Michel Basquiat, Untitled (ELMAR), 1982. Estimate: US$40 – 60 million. SOLD FOR: US$46.5 million on 14 May, New York.
Design
Diego Giacometti, 'Grecque' low table, designed circa 1965, produced 1968. Estimate: £200 – 300 thousand. SOLD FOR: £533.4 thousand / US$667.6 thousand on 2 May, London.
Editions
Andy Warhol, Moonwalk (F. & S. 405), 1987. Estimate: US$120 – 180 thousand. SOLD FOR: US$463.6 thousand on 16 – 17 April, New York.
Photographs
Irving Penn, The Palm of Miles Davis, New York, 1986. Estimate: £40 – 60 thousand. SOLD FOR: £152.4 thousand / US$193.1 thousand on 16 May, London.
Watches
Philippe Dufour, Duality, an exceptionally rare, possibly unique, and fresh-to-market white gold wristwatch with double escapement, additional lacquered dial and hand set, certificate of origin, and fitted presentation box, 1999. Estimate: US$0.8 – 1.6 million. SOLD FOR: US$2.1 million on 8 – 9 June, New York.
Jewels
Exceptional Fancy Vivid Pink diamond ring. Estimate: CHF9.5 – 13.6 million / US$10.5 – 15 million. SOLD FOR: CHF10.9 million / US$12 million on 13 May, Geneva.
PHILLIPS: YOUR DEDICATED PARTNER IN ART, DESIGN AND LUXURY
Phillips offers a series of competitive advantages. This includes a blend of bespoke consignment terms, top performance, and strategic focus on Modern & Contemporary Art, Editions, Photographs, Design and Luxury offerings, including Jewels and Watches. Our leadership across these markets is evidenced by Phillips’ 87% sell-through rate overall, with 85% of lots selling at or above estimate.
Contact our team today to learn how we can best serve you through unmatched expertise and personalized collecting options.