Auction Watch September 2024: Phillips Evening & Day Editions

Andy Warhol Dominates With Trial Proofs

Warhol's trial proofs (TP), distinguished by their unique colour variations, stood out as the top performers in this year’s sale, reflecting a strong and anticipated performance. Several works from various sought-after series, which we’ve highlighted throughout the year, unsurprisingly ranked among the highest in the sale. Notable pieces included:

1. Details of Renaissance Paintings (Sandro Botticelli, Birth of Venus, 1482) TP 21/36, which featured a unique, never before seen colourway of pink skin and golden hair against a cobalt blue background. This piece emerged as the star lot of the sale, achieving £247,650 against a high estimate of £150,000.
2. Black Rhinoceros TP 20/30 (1983), from Endangered Species, presented the majestic animal in a vibrant ombre of fuchsia and coral against a green backdrop, set a new auction record at £190,500, surpassing its previous value of £132,811 set in May 2024. This demonstrates the continued growing interest and appreciation for this series.
3. Mobilgas TP 29/30 (1985), from Ads, which reached £120,650, breaking its previous record of £77,483 set in April 2022.
4. Alexander the Great TP 2/65 (1982), featuring the Macedonian’s emperor's iconic profile against a teal background, exceeded expectations achieving £139,700 against an £80,000 high estimate.
5. Mother and Child TP 2/65 (1986), from Cowboys and Indians, set a new record at £63,500, nearly doubling its record performance from 2023.

Warhol’s overall performance in this sale was impressive, with both his TPs and regular editions from iconic series like Campbell’s Soup Cans, Mao prints, and Reigning Queen portraits performing well. These results highlight the strength of the print market and the significant appeal of TPs, which have become increasingly valuable due to their unique colour variations and high tradeability. Despite the challenging economic climate, collectors are willing to pay a premium for these works, viewing them as a distinctive alternative to originals. For more in-depth analysis on the rising popularity and value of Warhol's TPs and complete sets, explore our latest Andy Warhol market report.

Roy Lichtenstein

Roy Lichtenstein has shown an intriguing trajectory in 2024 print sales. While 2023 saw a varied selection of works from his Nudes, Landscapes, Moonscapes, Seascapes series, 2024's standout pieces have come from his Composition series, which provide a more accessible entry point for collectors. Top performing results from Lichtenstein included:

1. Composition IV (C. 293) (1995) set a new record at Phillips' June editions sale, achieving £22,860–surpassing the previous record of £20,924 in 2023.
2. Still Life With Lobster (1974) from the Six Still Lifes Series, which exceeded estimates, selling for £27,940 with fees.

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Keith Haring and Jean-Michel Basquiat

Other notable performances in American Pop included works by Keith Haring and Jean-Michel Basquiat. Haring’s Pop Shop I, Plate III (1987) met expectations, achieving £25,400, just above its high estimate of £20,000. Meanwhile, Basquiat’s Riddle Me This Batman (1987/2022), from the Superhero Portfolio, a posthumous print signed by Lisane Basquiat and Jeanine Heriveaux, also made its public debut, selling for £25,400.

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Banksy commanded strong attention in the sale with several offerings of high-value and more accessible prints, most of which meet expectations. This reflects a 2024 trend where collectors prioritise iconic imagery within works, which offers a sense of stability and potential for sustained value. For more 2024 print market trends listen to our weekly podcast: The Week In Prints. Banksy’s results included:

1. Girl With Balloon (2004), an unsigned print, achieved £76,200.
2. Kate Moss (2005) in its original printed colourway, was the standout piece. Marked by it’s rarity to the market, it’s first appearance since 2021, this work sold for £101,600.
3. 4 Soup Cans (Gold on Cream) (2006), also rare and unseen since 2022, exceeded estimates, reaching £38,100 with fees.

Other unsigned Banksy works also performed as expected on a lower scale. The results from this sale highlight a strong market for his recognisable imagery, with signed pieces adding further value reinforcing their status as both cultural statements and valuable investment assets. For further insights to Banksy's print market, refer to our comprehensive Banksy market report.

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Harland Miller

Harland Miller made a notable solo appearance in the sale with This is Where it’s Fuckin At (2012), an artist proof (AP) that surpassed expectations by £8,000, ultimately achieving £35,560. Miller’s prints are celebrated for their exceptional colour production and meticulous printing techniques, making them highly sought after in the market.

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Damien Hirst

Damien Hirst's appearance in the sale notably reflected current market trends. In 2023, his Spot works were highly sought after, setting competing records alongside complete sets from The Virtues. In this sale, individual prints from The Virtues series stood out, consistently outperforming estimates. This mirrors trends seen in other blue chip markets, where collectors focus on well-known, affordable pieces with high desirability. Hirst’s individual Virtues prints, with their appeal and accessibility, continue to show strong demand and investment confidence. Here are the standout results from Hirst’s sales:

1. Honour (H9-6), 2021 realised £13,970, exceeding the high estimate by 55%.
2. Control (H9-8), 2021 achieved £15,875, surpassing its £9,000 high estimate by 76%.

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Francis Bacon

Francis Bacon has been on our watchlist this year, with a growing interest in his prints on the market. What makes Bacon’s prints particularly appealing is that they are derived from his iconic paintings, offering enthusiasts an accessible alternative to the multi-million-dollar originals while retaining the intense, visceral imagery he is known for. These works are instantly recognisable and bolster collector confidence. At Phillips’ sale, Triptyque août 1972 (after, Triptych August 1972) (1979) performed well, selling at the high estimate for £24,130 with fees.

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Overall, Phillips September edition sale accurately mirrored current market dynamics, with most works achieving their expected prices. Warhol’s record-breaking sales highlighted the impact of aggressive public bidding, which is boosting the value and tradability of these rare prints. While trending Lichtenstein and Haring pieces have become scarcer in 2023, auction sales only represent a fraction of market suggesting that collectors are increasingly looking towards transactions on the private market. Riley's market is holding steady due to the cultural significance of her works, and interest in Banksy's iconic pieces remains evident. This sale is just the beginning of a busy print auction season. For more insights on Phillips’ coinciding David Hockney sale, see our David Hockney Auction Report.