[motor]

Sorry if this has already been posted



Lot 18 - £72,500
Lot 19 - £58,100
With buyers premium



Lot 26 - £46,100
Lot 44 - £50,900
Lot 48 - £26,900
With buyers premium

[13loco]

www.phillipsdepury.com/auctions.aspx?sn=NY000108

[jamesreeve5]

This might have been one of the worst auction I have ever seen. About 1/3 of the stuff went unsold (including a Barry McGee). 1/3 went for less than estimate (Dash Snow, Terrence Koh, Dan Colen), and the rest went for about asking price (except for a Marilyn Minter and a Terrence Koh which did well).

The auction itself had a lot of cutting edge stuff in it and there was a lot of hype buildup behind many of the artists. It was sad to see this kind of turnout for some of America's most promising young contemporary artists.

[darjeeling]

If only all those artists you mentioned 'stenciled' their art, and had no concept behind it, well then it would have sold for double the estimates. Get with it.

[sputnikeye]

Nah, i think the contemporary scene has been over-inflated price and work wise and the hype is backfiring

[reados]

May 21, 2008 4:50:56 GMT 1 @darjeeling said:

If only all those artists you mentioned 'stenciled' their art, and had no concept behind it, well then it would have sold for double the estimates. Get with it.

[Martin Whatson]

Why is it bad that pieces go for the estimated value?
I would think its estimated because thats the price they are expecting to get for it!?

[lee3]

May 21, 2008 8:23:47 GMT 1 Martin Whatson said:

Why is it bad that pieces go for the estimated value?
I would think its estimated because thats the price they are expecting to get for it!?

There is nothing wrong with it UNLESS you are a speculator. Speculators are happy to keep buying in as long as lots are hammering for multiples of thier high estimate (one of the many reasons the auction houses more often than not set teaser ranges). However, once you get a few sales with many bought in lots coupled with ones that are hammering withing range, the speculators will begin exiting stage left. Whether we are a long ways from that inflection point, at it, or past it is up for debate depending on the level of work in discussion. Regardless, that day will come and I personally look forward to it as you have to keep some powder dry so that you can buy the quality work others are forced to sell when that day arrives.

[aginghippie]

Lee's point is well taken. You don't need a collapse in the market to shake out the speculators you just need the market to go flat. Once that happens they will bail in droves because they aren't getting the returns they are after. The market will not have any problem absorbing quality pieces released onto the market but lesser works will suffer. I am trying to find a good Franz Kline at the moment to replace one I sold a while ago but for several months there has been little of real quality on the market (I don't want a work on paper). Admittedly this is in a more established sector of the market but still...

[dslug]

I believe 30% unsold lots is the average for most auctions in the antiques game so Id imagine it translates similarly to the art game too.

[lee3]

May 21, 2008 16:57:47 GMT 1 dslug said:

I believe 30% unsold lots is the average for most auctions in the antiques game so Id imagine it translates similarly to the art game too.

Contemporary art auctions over the past 7 years have had nowhere near a 30% BI average. The evening sales have been less than 10% and I don't know what the morning and day sales have been but can guarantee you that they've been nowhere near 30% at the top houses (Christies and Sotheby's). The second tier houses like Bonhams and PdP have certainly had higher BI rates because they simply don't get anywhere near the quality of work on average as the the premier shops. Still, I would be surprised to learn that even at their level that 30% has been common lately.

[dslug]

Fair point and well made if my comment is put in context then it should relate to run of the mill antique auctions and therefore in thinking about it it would never translate into this type of auction.

[slowmo]

Dan Colen ramma lama ding dong Bollox

Dash snow, guess you could like him, but is very niche

Terrence Koh, placebo (the band) of art, was intriquing at first, ultimately empty theatrical nonsense

Colen, Snow and Koh all fall under the Saatchi purchase it and they'll be big umbrella. Sorry Charles, but your number has been called on these guys, glad to see people are exiting stage left on them

[darjeeling]

May 21, 2008 22:12:38 GMT 1 @slowmo said:

Dan Colen ramma lama ding dong Bollox

Dash snow, guess you could like him, but is very niche

Terrence Koh, placebo (the band) of art, was intriquing at first, ultimately empty theatrical nonsense

Colen, Snow and Koh all fall under the Saatchi purchase it and they'll be big umbrella. Sorry Charles, but your number has been called on these guys, glad to see people are exiting stage left on them

Get serious, these guys are represented by some major gallery muscle around the world and in the Saatchi collection etc. I'll take bets right now that these guys are still around in 20 years while 90% of the BS artists that are faves on this forum aren't.

[slowmo]

I say darjeeling, struck a chord? I agree about 90% of the artists on this forum, but I dont think you'll be hearing much about these guys in 20 years.

[Deleted]

Phillips De Pury.

www.phillipsartexpert.com/forums/7/430/

[funster]

Is interesting. Also artist of the week - Beejoir

[graeme501]

also, adam neate is looking rather old for a 20-year old

[steve]

didn't it turn out that Skullphone had an agreement to use those LA digital billboards, and there was no underhand hacking involved?

[Simococo]

Clear Channel said somebody paid for the usage.
Skullphone said nowt

[stjohn]

Phillips are having an urban art sale on Sep 6 in London with loads in it - go here:

phillipsdepury.com/auctions.aspx

and click the blue "About Urban Art" on the right.

Could be interesting, but not sure how hard it is being marketed...

[Deleted]

Jul 30, 2008 11:52:19 GMT 1 stjohn said:

Phillips are having an urban art sale on Sep 6 in London with loads in it - go here:

phillipsdepury.com/auctions.aspx

and click the blue "About Urban Art" on the right.

Could be interesting, but not sure how hard it is being marketed...

I spoke with Ellen there about this, going to be publicised in usual Phillips De Pury understated manner.

[Simococo]

is there a catalogue out yet?

[hk]

Phillips is having an urban art auction in September as part of their Saturday@Phillips sale coming up in London. It will be interesting to see if showing artists that stencil their work and perhaps have no concept will do better than the last day sale as far as percentages.

[stjohn]

No catalogue yet I think, but go and have a look at the page in the link above. You will see Swoon as one of the 'highlights'. Click on through the highlights (some weird stuff), but there is a Banksy rat (supposedly!) on cardboard towards the end. That could be interesting...

[pfffffffffft]

Supine and Bast as highlights as well, and a strong estimate on a beejoir peice. That Bast is a stunner. I'd love to own it. Love the supine as well.

[covertshadowops]

busy busy saturday...

phillipsdepury.com/auctions/online-catalog.aspx?sn=UK000308

let the comments start here....

[graeme501]

what the fuck are phillips de pury doing ? banksy flyers, stickers, dirty funker cd's and a roadsign that judging by the esitmate, looks to be a fake

[classy]

Some real garbage in there. Also, estimates seem to be all over the place. Can't wait to see how this thing pans out

[Agent Provocateur]

Also, I'm not clued up on the complete story behind the Beejoir 'LV child' scultures... but I do seem to remember it going very Pete Tong ... 'Estimate £5,000 - £7,000'. Isn't that slightly high? Or have I missed something... as usual?