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This October, Phillips opens the show for its London Contemporary Art evening sale with a relatively low total estimated valuation(*): 18 million GBP compared to 30.5 million GBP in October 2015 (short 7 lots versus previous year).
The highlight of the evening is "20 Pink Mao's" by Andy Warhol estimated between 4 and 6 million GBP.
Grouped around the Warhol are 3 artworks with Low Estimates (LE) above 1 million GBP by the following artists: Mark Grotjahn, Rudolph Stingel and Mark Bradford. Only 4 additional works – by Mark Bradford, Sean Scully, Anselm Kiefer and Gerhard Richter – have LE of more than 500,000 GBP.
The remaining 22 artworks are listed with LEs of less than 500,000 GBP.
Finally while 5 works indicate ownership interest from Phillips, only 4 artworks (13%) come with a guarantee, 3 of them hedged with irrevocable bids. This is a far cry from last year when the evening sale included 21 artworks (56%) backed by Third party guarantees.
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