LJCal
Junior Member
Posts • 2,933
Likes • 4,449
December 2019
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Phillips Art Auctions • New York, Hong Kong & London, by LJCal on Apr 16, 2021 22:33:36 GMT 1, thanks lj do we ever know what that bid is, is it presented in the auction as the first bid? not its not disclosed (I believe they do have to disclose that a 3rd party agreement exists but not the details), 9x out of 10 it sits at reserve. If the underwrite bid is higher than reserve the auctioneer will essentially treat it like a commission bid.
thanks lj do we ever know what that bid is, is it presented in the auction as the first bid? not its not disclosed (I believe they do have to disclose that a 3rd party agreement exists but not the details), 9x out of 10 it sits at reserve. If the underwrite bid is higher than reserve the auctioneer will essentially treat it like a commission bid.
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pollz66
New Member
Posts • 321
Likes • 199
May 2008
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Phillips Art Auctions • New York, Hong Kong & London, by pollz66 on Apr 17, 2021 11:40:21 GMT 1, thanks lj do we ever know what that bid is, is it presented in the auction as the first bid? not its not disclosed (I believe they do have to disclose that a 3rd party agreement exists but not the details), 9x out of 10 it sits at reserve. If the underwrite bid is higher than reserve the auctioneer will essentially treat it like a commission bid. The catch for the seller is this: if the underwriter's bid is exceeded at auction, then the underwriter earns a percentage - usually 20% - of the excess. So if they underwrote £2m and the art is bid up to £2.5m, the underwriter earns £100k. Sometimes that underwriter is the auction house itself.
thanks lj do we ever know what that bid is, is it presented in the auction as the first bid? not its not disclosed (I believe they do have to disclose that a 3rd party agreement exists but not the details), 9x out of 10 it sits at reserve. If the underwrite bid is higher than reserve the auctioneer will essentially treat it like a commission bid. The catch for the seller is this: if the underwriter's bid is exceeded at auction, then the underwriter earns a percentage - usually 20% - of the excess. So if they underwrote £2m and the art is bid up to £2.5m, the underwriter earns £100k. Sometimes that underwriter is the auction house itself.
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LJCal
Junior Member
Posts • 2,933
Likes • 4,449
December 2019
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Phillips Art Auctions • New York, Hong Kong & London, by LJCal on Apr 17, 2021 12:13:20 GMT 1, not its not disclosed (I believe they do have to disclose that a 3rd party agreement exists but not the details), 9x out of 10 it sits at reserve. If the underwrite bid is higher than reserve the auctioneer will essentially treat it like a commission bid. The catch for the seller is this: if the underwriter's bid is exceeded at auction, then the underwriter earns a percentage - usually 20% - of the excess. So if they underwrote £2m and the art is bid up to £2.5m, the underwriter earns £100k. Sometimes that underwriter is the auction house itself.
Sure they have give up some of the upside, in property the deal was usually 45% over guarantee to underwriter, 45% to seller and 10% to auction house. It does give certainty however which has a lot of value especially if the seller needs to commit to another opportunity that they feel has a greater degree of upside than the underwrite position.
not its not disclosed (I believe they do have to disclose that a 3rd party agreement exists but not the details), 9x out of 10 it sits at reserve. If the underwrite bid is higher than reserve the auctioneer will essentially treat it like a commission bid. The catch for the seller is this: if the underwriter's bid is exceeded at auction, then the underwriter earns a percentage - usually 20% - of the excess. So if they underwrote £2m and the art is bid up to £2.5m, the underwriter earns £100k. Sometimes that underwriter is the auction house itself. Sure they have give up some of the upside, in property the deal was usually 45% over guarantee to underwriter, 45% to seller and 10% to auction house. It does give certainty however which has a lot of value especially if the seller needs to commit to another opportunity that they feel has a greater degree of upside than the underwrite position.
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Phillips Art Auctions • New York, Hong Kong & London, by artstylechic on Apr 17, 2021 13:46:47 GMT 1, The guarantor always has an edge as a buyer in these auctions which can dissuade others bidders from bidding - so it’s rare to see pieces with a guarantee go for much above the guaranteed price. This doesn’t always work out best for the seller of the piece. I thought the Gas Mask Boy piece was stunning and the price realized fairly in line with the current market. It had also been aggressively shopped around as I was offered it not long ago (and for less than it sold for). Very cool piece. The original LIITA for 350k hammer, on the other hand, was a steal. You’re not going to find an original LIITA anywhere for less than 3x that price and good luck finding any one at all. It was also a bigger piece with scale. The left handed facing figure is very rare to see and the target on the flowers even more rare at that. I had never seen that one before or any one like it. Apparently it was exhibited at an early Banksy show in Vienna. Considering the prices prints have been selling for, whoever picked that one up got an investment grade original for less than a third of what it should have sold for. Sotheby’s has the 3ft canvas coming up for sale next month and I would bet it sells for 10x what this LIITA sold for.
The guarantor always has an edge as a buyer in these auctions which can dissuade others bidders from bidding - so it’s rare to see pieces with a guarantee go for much above the guaranteed price. This doesn’t always work out best for the seller of the piece. I thought the Gas Mask Boy piece was stunning and the price realized fairly in line with the current market. It had also been aggressively shopped around as I was offered it not long ago (and for less than it sold for). Very cool piece. The original LIITA for 350k hammer, on the other hand, was a steal. You’re not going to find an original LIITA anywhere for less than 3x that price and good luck finding any one at all. It was also a bigger piece with scale. The left handed facing figure is very rare to see and the target on the flowers even more rare at that. I had never seen that one before or any one like it. Apparently it was exhibited at an early Banksy show in Vienna. Considering the prices prints have been selling for, whoever picked that one up got an investment grade original for less than a third of what it should have sold for. Sotheby’s has the 3ft canvas coming up for sale next month and I would bet it sells for 10x what this LIITA sold for.
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Sundowner
Junior Member
Posts • 4,227
Likes • 2,429
September 2008
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Phillips Art Auctions • New York, Hong Kong & London, by Sundowner on Apr 17, 2021 16:03:08 GMT 1, Don't disagree that the LIITA was cheap and a good size but the execution was (to my eyes) pretty poor and the figure facing the wrong way would have played havoc with my OCD. This, combined with the fact it was unsigned means it would have been less appealing to collectors.
Don't disagree that the LIITA was cheap and a good size but the execution was (to my eyes) pretty poor and the figure facing the wrong way would have played havoc with my OCD. This, combined with the fact it was unsigned means it would have been less appealing to collectors.
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nms666
New Member
Posts • 11
Likes • 2
November 2018
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Phillips Art Auctions • New York, Hong Kong & London, by nms666 on Apr 19, 2021 18:15:00 GMT 1, Bit of a shocker for GWRB considering one went for £328K not long ago. Seems odd... Maybe because it was in with some unique pieces?
Bit of a shocker for GWRB considering one went for £328K not long ago. Seems odd... Maybe because it was in with some unique pieces?
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liverpool
New Member
Posts • 11
Likes • 0
June 2008
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Phillips Art Auctions • New York, Hong Kong & London, by liverpool on Apr 20, 2021 18:18:39 GMT 1, Auction starts in 3 hours.
Auction starts in 3 hours.
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robo
Junior Member
Posts • 1,578
Likes • 1,003
November 2006
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Phillips Art Auctions • New York, Hong Kong & London, by robo on Apr 21, 2021 8:37:34 GMT 1, Interesting data, but a number of incorrect statements in this article. It's Myartbroker pushing hard to sell their service over the auction houses.
Interesting data, but a number of incorrect statements in this article. It's Myartbroker pushing hard to sell their service over the auction houses.
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Sundowner
Junior Member
Posts • 4,227
Likes • 2,429
September 2008
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Phillips Art Auctions • New York, Hong Kong & London, by Sundowner on Apr 21, 2021 11:05:16 GMT 1, They also claim not to charge sellers fees but that's because they lowball
They also claim not to charge sellers fees but that's because they lowball
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gross
New Member
Posts • 180
Likes • 93
January 2020
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Phillips Art Auctions • New York, Hong Kong & London, by gross on Apr 21, 2021 11:19:35 GMT 1, Banksy No Ball Games (Green)
2009 Screenprint in colors, on wove paper, with full margins. I. 24 x 25 1/4 in. (61 x 64.1 cm) S. 26 3/8 x 27 1/2 in. (67 x 69.9 cm) Signed in green pencil and numbered 212/250 in pencil (there was also an edition in gray), published by Pictures on Walls, London, with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $40,000 - 60,000
Sold for $94,500
Banksy Gangsta Rat
2004 Screenprint in colors, on wove paper, with full margins. I. 14 x 8 3/4 in. (35.6 x 22.2 cm) S. 19 1/2 x 13 3/4 in. (49.5 x 34.9 cm) Numbered 255/350 in pencil, from the unsigned edition (there was also a signed edtition of 150), published by Pictures on Walls, London (with their blindstamp), with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $25,000 - 35,000
Sold for $60,480
Banksy No Ball Games (Green)
2009 Screenprint in colors, on wove paper, with full margins. I. 24 x 25 1/4 in. (61 x 64.1 cm) S. 26 3/8 x 27 1/2 in. (67 x 69.9 cm) Signed in green pencil and numbered 212/250 in pencil (there was also an edition in gray), published by Pictures on Walls, London, with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $40,000 - 60,000
Sold for $94,500
Banksy Gangsta Rat
2004 Screenprint in colors, on wove paper, with full margins. I. 14 x 8 3/4 in. (35.6 x 22.2 cm) S. 19 1/2 x 13 3/4 in. (49.5 x 34.9 cm) Numbered 255/350 in pencil, from the unsigned edition (there was also a signed edtition of 150), published by Pictures on Walls, London (with their blindstamp), with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $25,000 - 35,000
Sold for $60,480
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Phillips Art Auctions • New York, Hong Kong & London, by Bridget Riley 10 on Apr 21, 2021 11:44:59 GMT 1, I was following the Roy Lichtenstein lots in this sale .
All four did very very well.
Lot 57 untitled Head 15-20k sold for $40k.
Lot 58 explosion 15-25k sold for $57k.
Lot 59 Nude in woods 10-15k sold $48k
And the big one .........
Lot 60 Roommates 120-180k sold $428k
So it looks like the Red Lamp which sold at Christie’s in London a few weeks ago was no fluke . It was estimated at £8-12k and sold for £47k . Prices look very much on the up for Lichtenstein.
onlineonly.christies.com/s/prints-multiples/roy-lichtenstein-1923-1997-12/115210
I have one of these I put up a few weeks back but the buyer never called to cancel viewing on here.
If anyone interested give us a message on here .
I was following the Roy Lichtenstein lots in this sale . All four did very very well. Lot 57 untitled Head 15-20k sold for $40k. Lot 58 explosion 15-25k sold for $57k. Lot 59 Nude in woods 10-15k sold $48k And the big one ......... Lot 60 Roommates 120-180k sold $428k So it looks like the Red Lamp which sold at Christie’s in London a few weeks ago was no fluke . It was estimated at £8-12k and sold for £47k . Prices look very much on the up for Lichtenstein. onlineonly.christies.com/s/prints-multiples/roy-lichtenstein-1923-1997-12/115210I have one of these I put up a few weeks back but the buyer never called to cancel viewing on here. If anyone interested give us a message on here .
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Phillips Art Auctions • New York, Hong Kong & London, by Bridget Riley 10 on Apr 21, 2021 11:46:46 GMT 1, I was following the Roy Lichtenstein lots in this sale . All four did very very well. Lot 57 untitled Head 15-20k sold for $40k. Lot 58 explosion 15-25k sold for $57k. Lot 59 Nude in woods 10-15k sold $48k And the big one ......... Lot 60 Roommates 120-180k sold $428k So it looks like the Red Lamp which sold at Christie’s in London a few weeks ago was no fluke . It was estimated at £8-12k and sold for £47k . Prices look very much on the up for Lichtenstein. onlineonly.christies.com/s/prints-multiples/roy-lichtenstein-1923-1997-12/115210I have one of these I put up a few weeks back but the buyer never called to cancel viewing on here. If anyone interested give us a message on here .
Sorry forgot to mention my Red Lamp by Lichtenstein is in excellent condition .
I was following the Roy Lichtenstein lots in this sale . All four did very very well. Lot 57 untitled Head 15-20k sold for $40k. Lot 58 explosion 15-25k sold for $57k. Lot 59 Nude in woods 10-15k sold $48k And the big one ......... Lot 60 Roommates 120-180k sold $428k So it looks like the Red Lamp which sold at Christie’s in London a few weeks ago was no fluke . It was estimated at £8-12k and sold for £47k . Prices look very much on the up for Lichtenstein. onlineonly.christies.com/s/prints-multiples/roy-lichtenstein-1923-1997-12/115210I have one of these I put up a few weeks back but the buyer never called to cancel viewing on here. If anyone interested give us a message on here . Sorry forgot to mention my Red Lamp by Lichtenstein is in excellent condition .
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liverpool
New Member
Posts • 11
Likes • 0
June 2008
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Phillips Art Auctions • New York, Hong Kong & London, by liverpool on Apr 21, 2021 12:30:10 GMT 1, Banksy Love Rat
2004 Screenprint in colors, on wove paper, with full margins. I. 14 x 11 in. (35.6 x 27.9 cm) S. 19 1/4 x 13 3/8 in. (48.9 x 34 cm) Numbered 594/600 in pencil, from the unsigned edition (there was also a signed edition of 150), published by Pictures on Walls, London (with their blindstamp), with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $60,000 - 80,000
Sold for $81,900
Banksy Stop & Search
2007 Screenprint in colors, on Arches 88 paper, with full margins. I. 17 3/4 x 15 in. (45.1 x 38.1 cm) S. 30 1/4 x 22 1/2 in. (76.8 x 57.2 cm) Signed in blue pencil and numbered 114/500 in pencil, published by Pictures on Walls, London, with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $60,000 - 80,000
Sold for $126,000
Banksy Love Rat
2004 Screenprint in colors, on wove paper, with full margins. I. 14 x 11 in. (35.6 x 27.9 cm) S. 19 1/4 x 13 3/8 in. (48.9 x 34 cm) Numbered 594/600 in pencil, from the unsigned edition (there was also a signed edition of 150), published by Pictures on Walls, London (with their blindstamp), with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $60,000 - 80,000
Sold for $81,900
Banksy Stop & Search
2007 Screenprint in colors, on Arches 88 paper, with full margins. I. 17 3/4 x 15 in. (45.1 x 38.1 cm) S. 30 1/4 x 22 1/2 in. (76.8 x 57.2 cm) Signed in blue pencil and numbered 114/500 in pencil, published by Pictures on Walls, London, with the accompanying Certificate of Authenticity issued by Pest Control, framed.
Estimate $60,000 - 80,000
Sold for $126,000
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George Poppit
Junior Member
Posts • 1,527
Likes • 1,646
February 2021
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Phillips Art Auctions • New York, Hong Kong & London, by George Poppit on Apr 22, 2021 15:18:53 GMT 1, Final section of this auction just started with some very good remaining lots. Says it's a NY auction but pretty sure it's coming live from London.
Final section of this auction just started with some very good remaining lots. Says it's a NY auction but pretty sure it's coming live from London.
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samo
Junior Member
Posts • 1,511
Likes • 1,210
October 2007
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Phillips Art Auctions • New York, Hong Kong & London, by samo on Apr 22, 2021 21:18:44 GMT 1, Some stand out results:
Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240
David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120
Some stand out results:
Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240
David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120
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orchid
Junior Member
Posts • 1,463
Likes • 1,150
May 2018
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Phillips Art Auctions • New York, Hong Kong & London, by orchid on Apr 22, 2021 21:29:08 GMT 1, Some stand out results: Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240
Love me an outlier. Only sold for 27k above what it should have 😂 you could buy 2-4 small originals on paper of hers for that primary or auction, or several large, small edition etchings which are still available. Maybe the buyer thought they were bidding on an og.
Some stand out results: Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240 Love me an outlier. Only sold for 27k above what it should have 😂 you could buy 2-4 small originals on paper of hers for that primary or auction, or several large, small edition etchings which are still available. Maybe the buyer thought they were bidding on an og.
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Phillips Art Auctions • New York, Hong Kong & London, by Happy Shopper on Apr 22, 2021 21:39:57 GMT 1, David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120
Coincidence that All Rights Reserved have a My Rampage is Over sculpture releasing soon!?
David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120 Coincidence that All Rights Reserved have a My Rampage is Over sculpture releasing soon!?
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Sixty Bells
New Member
Posts • 363
Likes • 461
October 2020
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Phillips Art Auctions • New York, Hong Kong & London, by Sixty Bells on Apr 22, 2021 21:54:40 GMT 1, Some stand out results: Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240 David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120
You can pick up “gap in the clouds” from jealous for 1.8k
Some stand out results: Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240 David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120 You can pick up “gap in the clouds” from jealous for 1.8k
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Black Wolf
New Member
Posts • 613
Likes • 398
October 2020
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Phillips Art Auctions • New York, Hong Kong & London, by Black Wolf on Apr 22, 2021 22:03:28 GMT 1, Some stand out results: Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240 David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120 You can pick up “gap in the clouds” from jealous for 1.8k
Not even the AP at Phillips, not sure why someone has paid that..
Some stand out results: Shara Hughes - Split Ends, estimate: $1,200 - 1,800 sold for: $30,240 David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120 You can pick up “gap in the clouds” from jealous for 1.8k Not even the AP at Phillips, not sure why someone has paid that..
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Black Wolf
New Member
Posts • 613
Likes • 398
October 2020
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Phillips Art Auctions • New York, Hong Kong & London, by Black Wolf on Apr 22, 2021 22:05:38 GMT 1, You can pick up “gap in the clouds” from jealous for 1.8k Not even the AP at Phillips, not sure why someone has paid that..
And jealous offer 0% APR over 12 months 😃
You can pick up “gap in the clouds” from jealous for 1.8k Not even the AP at Phillips, not sure why someone has paid that.. And jealous offer 0% APR over 12 months 😃
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Sixty Bells
New Member
Posts • 363
Likes • 461
October 2020
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Phillips Art Auctions • New York, Hong Kong & London, by Sixty Bells on Apr 22, 2021 22:22:29 GMT 1, Some stand out results: David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120
That elephant is Shrigleys “Girl with a balloon”
Some stand out results: David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120 That elephant is Shrigleys “Girl with a balloon”
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theclash
New Member
Posts • 581
Likes • 644
May 2020
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Phillips Art Auctions • New York, Hong Kong & London, by theclash on Apr 22, 2021 23:25:18 GMT 1, Some stand out results: David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120 That elephant is Shrigleys “Girl with a balloon”
Dammit - keep missing
Some stand out results: David Shrigley - My Rampage Is Over, estimate: $4,000 - 6,000 sold for: $17,640 David Shrigley - A gap in the clouds, estimate: $1,200 - 1,800 sold for: $15,120 That elephant is Shrigleys “Girl with a balloon” Dammit - keep missing
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Deleted
Posts • 0
Likes •
January 1970
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Phillips Art Auctions • New York, Hong Kong & London, by Deleted on Apr 25, 2021 20:55:21 GMT 1, Still can’t get over someone paying £550k for a LIITA A/P then one hammers at £250k a couple weeks later
That’s got to be a tough pill to swallow.
Still can’t get over someone paying £550k for a LIITA A/P then one hammers at £250k a couple weeks later
That’s got to be a tough pill to swallow.
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Phillips Art Auctions • New York, Hong Kong & London, by Jeezuz Jones Snr on May 27, 2021 5:57:50 GMT 1, Nice laugh now original and a few prints coming up in next two weeks 👍
www.phillips.com/Search?Search=Banksy
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Phillips Art Auctions • New York, Hong Kong & London, by Dexter Bulldog on May 27, 2021 22:10:29 GMT 1, If anyone wants to sell me the cyw for the estimate and not worry about all those auction fees I can help
If anyone wants to sell me the cyw for the estimate and not worry about all those auction fees I can help
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Winchester
New Member
Posts • 232
Likes • 46
December 2017
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Phillips Art Auctions • New York, Hong Kong & London, by Winchester on May 29, 2021 4:11:22 GMT 1,
It's interesting, any idea what the "dry wall" part means? Is it a street piece then?
It's interesting, any idea what the "dry wall" part means? Is it a street piece then?
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robo
Junior Member
Posts • 1,578
Likes • 1,003
November 2006
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Phillips Art Auctions • New York, Hong Kong & London, by robo on Jun 3, 2021 12:29:19 GMT 1, Not really. ETH owners are just happier to spend ETH than USD because it cost them 🥜
Not really. ETH owners are just happier to spend ETH than USD because it cost them 🥜
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Newar
Junior Member
Posts • 1,464
Likes • 1,060
April 2018
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Phillips Art Auctions • New York, Hong Kong & London, by Newar on Jun 3, 2021 13:06:38 GMT 1, Best way to launder money
Best way to launder money
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