By Carter B. Horsley Phillips de Pury & Luxembourg changed its name earlier this year to Phillips de Pury & Company because Daniella Luxembourg resigned to concentrate on private deals. She had been a partner of Simon de Pury for several years and her departure was viewed by some observers as yet another "negative" for the auction house that several years ago took on the big boys - Sotheby's and Christie's - with the backing of Bernard Arnault, the chairman of LVMH, the French luxury goods concern. Mr. Arnault subsequently sold off much of his interest in the auction house. Ms. Luxembourg attended the Christie's and Sotheby's auctions this week and this auction as well.
Phillips had spent a lot of money and had made big inroads in the major auction business in New York but a diastrous Impressionist Art auction led it to withdraw from that major market and late last year it also closed its American Paintings Department after a lackluster sale that had followed several excellent auctions.
Phillips de Pury now concentrates on Contemporary Art, Twentieth Century Design and Photography and this Contemporary Art auction was viewed by many in the industry as critical to its future.
It was very successful with 93.74 percent of the 63 offered lots selling, which was better than the 90 percent sold by Christie's but not as good as the 100 percent sold by Sotheby's earlier this week. Like Sotheby's, Phillips de Pury's auction also exceeded its high estimate selling a total $17,768,800 against a pre-sale high estimate of $17,470,000. Such an achievement is rare although the sale's total paled in comparison with Christie's $104 million and Sotheby's $64 million in contemporary art auctions this week.
Simon de Pury said after the auction that "it's been a very exciting week," adding that Phillips de Pury "benefitted from all the momentum in the strong market" by being the last auction house to hold Contemporary Art auctions. "Its a very, very strong market," he continued, "we've never gotten some many phone bidders in advance of tomorrow's day auction...and some contemporary art galleries in Chelsea have sold everything before their opening."
The evening set auction records for 11 artists, more than Sotheby's and less than Christie's this week.
Lot 5, "Electric Earth (Linear Version), a CAV plastic laserdisc with CX and encoded audio by Doug Aitkin (b. 1968), sold for $114,000, including the buyer's premium as do all results mentioned in this article, breaking the artist's former auction record of $45,000 set at Sotheby's November 13, 2003.
Lot 12, "My Name," an acrylic and silkscreen on canvas by Richard Prince (b. 1949), sold for $747,200, shatting the artist's former auction of $460,500 set at Phillips, de Pury & Luxembourg November 13, 2003.
Lot 14, "Young Boys, an oil on canvas by Marlene Dumas (b. 1953), sold for $993,600, considerably over the former auction record of $634,700 set earlier in the week at Christie's New York.
Lot 15, Gewohnheitstier 5, a bronze by Rosemarie Trockel (b. 1952), sold for $102,000, nicely over the artist's former auction record of $68,040 set at Phillips, de Pury and Luxembourg November 13, 2003.
Lot 20, "Untitled (W26A-E)," an enamel on aluminum in five parts by Christopher Wool (b. 1955), sold for $848,000, more than double the artist's former auction record of $420,500 set at Christie's New York May 19, 1999.
Lot 33, "Hochofen (Blast Furnaces)," 22 gelatin silver prints by Bernd and Hilla Becher (b. 1931 and 1934), sold for $176,000, breaking the artist's former auction record of $160,000 set at Christie's New York, November 15, 2001.
Lot 43, "Serif," an emulsion on hardboard by Bridget Riley (b. 1931), sold for $792,000, soaring above the artist's prior auction of $792,000 set at Sotheby's London Februry 6, 2003.
Lot 53, "The Head's The Same as Between The Legs," symmetrical sets, triptych, acrylic on paper in artist's frame with green plexiglass by Mike Kelley (b. 1958), sold for $176,000, slightly over the artist's former auction record of $167,500 set at Christie's New York November 16, 1999.
Lot 55, "I Am Yours," a wool felt piece by Arturo Herrera (b. 1959), sold for $57,600, breaking the artist's former auction record of $33,460 set at Christie's New York, November 18, 2003.
Lot 60, "Selma Mustajbasic," a marble by Marc Quinn (b. 1964), sold for $102,000, breaking the artist's former auction record of $63,624 set at Christie's London October 8, 1998.
Lot 65, "The Plant, Square Cushion and Divider," rubber by Peter Fischli and David Weiss (b. 1952 amd 1946), sold for $164,800, breaking the artists' former auction record of $94,581 set at Sotheby's London February 7, 2003.
Lot 26, "Blue Heads" is an impressive painting by Jean-Michel Basquiat (1961-1988). An acrylic and oilstick on canvas it measures 72 by 117 inches and was executed in 1983. It has an estimate of $1,800,000 to $2,500,000. It sold for $2,024,000, the highest price of the evening.
The back-cover illustration of the catalogue is Lot 8, "Mini-me," a resin, rubber, hair and paint sculpture by Maurizio Cattelan (b. 1960). Executed in 1999, it has an estimate of $200,000 to $250,000. It sold for $355,200. The droll figure was placed on a high perch behind the auctioneer's rostrum.
Another Cattelan work is Lot 52, a taxidermed cow with handlebars from a Vespa motorscooter substituting for its ears. The sculpture measures 90 1/2 by 56 1/8 by 63 inches. It was executed in 1998. It has an estimate of $200,000 to $300,000. It sold for $299,200.
Lot 28 is a very strong work by Andy Warhol (1928-1987) entitled "Crosses." A synthetic polymer paint and silkscreen on canvas that measures 90 by 70 inches, it was executed in 1982. It has an estimate of $500,000 to $700,000 and sold for $792,000.
Lot 23 is an untitled acrylic on vinyl tarp by Keith Haring (1958-1990). It measures 108 by 109 1/8 inches. It was executed in 1982. It has an estimate of $400,000 to $600,000. It sold for $478,400.
Lot 45, "Slieve Roe," is a v-shaped metallic powder in polymer emulsion on canvas by Frank Stella (b. 1936). It measures 78 by 89 inches and was executed in 1964. It has an estimate of $600,000 to $800,000. It sold for $926,400.
Lot 29, "Kay-Eye-Double-S," by Edward Ruscha (b. 1937) is a 22-by-79 3/4-inch oil on canvas that was executed in 1979. It has an estimate of $250,000 to $350,000. It sold for $293,600.
The most beautiful work in the auction is Lot 37, "Concerto Spaziale (Venezia d'Argento)," by Lucio Fontana (1899-1968). The silver paint and colored stones on canvas measures 21 1/4 by 25 1/2 inches and was executed in 1961. It has an estimate of $200,000 to $300,000 and sold for $355,200.
The most "fun" object in the auction is Lot 50, "Dob's March," by Takashi Murakami (b. 1962). The Japanese has become extremely popular in American auctions the past couple of years but not all of his work is consistent and this unique work is perhaps the most pleasing to have been offered yet. It has an estimate of $40,000 to $60,000. It sold for $44,400.