Dissecting the Contemporary Art Day Sales

Willem de Kooning's 1958 "Composition III, " oil on paper on masonite, (Est. $600-800K) Sold for $986,000 at Sotheby's. © Photo: Sotheby's
By Mackie Healy, Art Market Views Contributor
The week’s trio of contemporary art day sales totaled $128 million.
Tuesday’s sale at Phillips de Pury & Co. was no Carte Blanche Philippe Segalot affair, instead totaling $6.1 million, under the $7.1 million to $10.1 million estimate.
More revealing: just 64 percent of the 354 lots were sold. The sale was larger than a year ago, when 263 lots which fetched $4.8 million.
Phillips set auction records for seven artists – though for some artists, like the charismatic Work of Art champ Abdi Farah, the record marks their first time at auction.
Sotheby’s came next, tallying $48.9 million, with eighty percent of 344 lots finding buyers, within the pre-sale $40 million to $57 million projected total. This was in line with 2009 results which made $44.1 million.
The top lot belonged to AbEx standby, Willem de Kooning: his 1958 Composition III fetched $986,500, above the $600,000 to $800,000 estimate.
Christie’s consignments were led by a spattering of estates offerings, including works from the collections of Max Palevsky and Dennis Hopper. A combined 391 lots sold in the morning and afternoon sessions on Thursday, totaling $67.7 million, with a respective eight-five percent of lots finding buyers. This topped the previous year’s $43.8 million total.
The sale’s top lot – David Park’s 1957 canvas Woman Reading, sold to a American collector for $1.4 million. The work was estimated at $500,000 – $700,000.
Phillips de Pury Top Ten:
1. Untitled III (Abandoned Painting) by William Anastasi, 1995 $242,500 (est. $30,000 – $40,000)
2. The Scream (after Munch) by Andy Warhol, 1984 $242,500 (est. $200,000 – $300,000)
3. House by Louise Bourgeois, 1995 $230,500 (est. $180,000 – $250,000)
4. Permanent Water by Sam Francis, 1967 $194,500 (est. $150,000 – $200,000)
5. Cremaster 1: Goodyear by Matthew Barney, 1995 $170,500 (est. $70,000 – $90,000)
6. Pair Object Vla: For two locations in one Place by Roni Horn, 1990 $146,500 (est. $120,000 – $180,000)
7. Top o’ the Morn’ Top o’ the Hill by Ed Ruscha, 1998 $128,500 (est. $100,000 – $150,000)
8. Sonic Reducer by Banks Violette, 2005 $116,500 (est. $100,000 – $150,000)
9. Untitled (Birdshit) by Dan Colen, 2006-2007 $110,500 (est. $25,000 – $35,000)
10. Double Pyramid #5 by Sol Lewitt, 1986 $110,500 (est. $100,000 – $150,000)
Sotheby’s Top Ten:
1. Composition III by Willem de Kooning, 1958 $986,500 (est. $600,000 – $800,000) American Private
2. Gray Scramble XIV by Frank Stella, circa 1969 $866,500 (est. $500,000 – $700,000) American Dealer
3. Untitled by Jean-Michel Basquiat, 1981 $842,500 (est. $700,000 – $900,000) Anonymous
4. Beach House by Day by David Hockney, 1990 $818,500 (est. $300,000 – $400,000) Private
5. Gospel Yodel (Salvage Series) by Robert Rauschenberg, 1984 $806,500 (est. $400,000 – $600,000) European Private
6. Nijinsky Hare by Barry Flanagan, 1985 $782,500 (est. $500,000 – $700,000) Private Collector
7. Span by Joan Mitchell, 1989 $782,500 (est. $450,000 – $650,000) New York Trade
8. Abstraktes Bild (767-2) by Gerhard Richter, 1992 $752,500 (est. $350,000 – $450,000) London Trade
9. Dolly Parton by Andy Warhol, 1985 $746,500 (est. $500,000 – $700,000) Private Collector
10. Untitled by David Smith, circa 1949-1952 $746,500 (est. $300,000 – $400,000) Private
Christie’s Top Ten:
1. Woman Reading by David Park, 1957 $1.6 million (est. $500,000 – $700,000) U.S. Private
2. In Black and White No. 5 by Robert Motherwell, 1966 $1.4 million (est. $700,000 – $1 million) U.S. Private
3. Double Maze II by Frank Stella, 1966 $1.1 million (est. $500,000 – $700,000) Anonymous
4. Big Sun by Jean-Michel Basquiat, 1984 $1.1 million (est. $800,000 – $1.2 million)
U.S. Private
5. Camouflage by Andy Warhol, 1986 $1.08 million (est. $600,000 – $800,000) U.S. Private
6. Sunset Nude with Red Stockings by Tom Wesselmann, 2003 $1.08 million (est. $600,000 – $800,000) European Private
7. Jackie by Andy Warhol, 1964 $1.08 million (est. $600,000 – $800,000) European Private
8. Girl on Magazine Cover by Willem de Kooning, 1970-71 $1.01 million (est. $700,000 – $1 million) U.S. Private
9. Ninjinsky Hare by Barry Flanagan, 1985 $988,500 (est. $300,000 – $500,000) European Private
10. Marilyn (Revival Series) by Andy Warhol, 1979-1986 $962,500 (est. $400,000 – $600,000) Anonymous




