Urban Art Association

The JR piece did well, estimate £18-25k, went for £40k

As did Johnathan Yeo with his Dennis Hopper study, which also sold for 40k GBP

The Parla was bought in with Faile and a pair of Fairey's. The sale was worse than dreadful. I thought Bonhams was turning the corner after the first pair of lots and then the wheels came off. I'm frankly surprised they sold that Kapoor (or rather it sold itself) after a similar one was bought in at the primary houses this week (with yet another due up in the next hour at phillips). Bonhams has always been the house to make a savvy purchase from imo and this sale was just more of the same. The Haring fared poorly too as did most everything.  Oh yeah and I was stunned to see that gorgeous Villegle at lot 4 (perfect vintage in '59) go unsold too (I thought that had a chance to do $100k so shows you what I know).  I believe a lot of those consignors would have done much better elsewhere. 

Excuse my ignorance but what does 'bought in' mean? Thx

Cheap as a fkin beep!. Everyone asleep in London town or what?.

Good buyers sale.

King of the Squiggles.

Was the Shep "Big Brother" bought in? I do like that work.

Bought in= unsold. Yes, european buyers add VAT to hammer.  ARR is applicable if a UK artist.  As for the top question, these houses have their own clientele.  I think it's very clear to anyone whose been following the auctions that Christie's has leaped ahead of Sotheby's (as opposed to trading blows) since the Loeb/board of directors public feud began and the release of Meyer.  There are buyers who will only buy from Christie's and many refuse to move on down the line.  It's why Phillips used to the be the up and comer house and Bonhams has always played a distant 4th, at least to my eyes. Behind them is everyone else who most of the market chooses to ignore (Dreweatts, etc).  I'm not trying to come across as crass but rather calling a spade a spade as I see it. 

Even this Phillips sale is quite heavy this afternoon despite a very strong collection of work.  Tauba going for $500k for a work of that scale and quality is low when compared to what similar works are bringing in at the primary houses (Christie's and Sotheby's).  Same is true of smith and ruby in this sale on a comparison basis.  On the other hand, a VERY strong result for Kassay in this sale vs. other recent silver gelatin works under the hammer which will raise some eyebrows. 

Bottom line is that really rich people aren't going to every auction; they are picking their faves. Given the results Christie's has been achieving as of late at everyone else's expense, it seems obvious to me to suggest they are lining up at Christie's and ignoring much of the rest.  There are always exceptions in every sale but I don't believe it's much of a stretch to suggest consignors (on average) for many of the works today at Bonhams and Phillips would have done better earlier this week at the primary houses where there simply are a higher concentration of eyeballs with larger wallets.  I have no affiliation with any of the houses and just calling it as i see it, feel free to disagree. 

Always look at the others though, including Dreweatts, you never know what you will find and it costs nothing to look.

Anybody on here own this one?

Tomorrow we have a few Banksy pieces at the Phillips auction, a barcode canvas, which is in questionable condition and a witty quote on a piece of board.