Auctions

Phillips de Pury Contemporary Art Day Sale Viewing Closed at 15th Street Location

Richard Prince, 'Untitled (Cigarettes),' 1978-79. (Courtesy Phillips de Pury).

Phillips de Pury’s Contemporary Art Day Sale viewing, which was scheduled to open at both of its locations tomorrow, Nov. 3, is closed at its West 15th Street location due to lack of electricity, until further notice. The viewing will, however, carry on as planned at the Park Avenue location (450 Park Avenue). The news, which was announced via Twitter, was confirmed by a call to their offices. Read More

human resources

Michael McGinnis Named CEO of Phillips de Pury

McGinnis. (Courtesy Patrick McMullan)

Simon de Pury, the chairman of Phillips de Pury & Company, announced today that Michael McGinnis, the company’s worldwide head of contemporary art, has been named its new chief executive officer. Bernd Runge is stepping down from the position, but will stay on as a special advisor to the company’s shareholders. Mr. Runge, a spy for the East German Stasi secret police in the 1980s, was named CEO in early 2009, shortly after the Moscow–based luxury goods company Mercury Group took a controlling share of the auction house. Read More

Auctions

Phillips Nets $86.9 M. at Contemporary Art Sale, Buoyed by Record $16.3 M. Basquiat

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Basquiat-11

A work on wood by Jean-Michel Basquiat set a new record for the artist at auction, selling for $16.3 million with premium at an otherwise by-the-numbers sale on Thursday evening at Phillips de Pury & Company, where auctioneer Simon de Pury hammered down a total of $75.9 million ($86.9 with premium), squeaking by at exactly the low estimate on a sale that was estimated to go as high as $110.7 million. Read More

Talking

Choice Quotations From the Coverage of This Week’s Art Auctions

"Silver Liz" by Andy Warhol at Christie's. (Photo by Emmanuel Dunand / AFP / Getty Images)

It was one remarkable week at the New York contemporary art evening sales. As the global economy tanked, Sotheby’s and Phillips de Pury & Company filed generally strong results, while Christie’s nailed its best performance in the category since 2008, its second best ever. With all of that money flowing, the art world’s key players had plenty of great things to say this week. Below, our favorite quotations, from the reporting of our colleagues and competitors. Read More

Auctions

Jacob Kassay Diptych Sets a New Record That We Made Up Just Now

Jacob Kassay "Untitled" (2010)

In today’s Jacob Kassay-exceeding-market-expectations news (we can’t get enough), a small Kassay diptych, estimated at $30,000 to $40,000 at Phillips de Pury’s contemporary dale sale this afternoon, sold for $104,500. This wouldn’t be surprising given that the guy usually sells for multiples above his high estimate at auction, but this particular Untitled, made with Kassay’s signature silver deposit and acrylic on canvas, is about a third of the size of the canvas that set an artist’s record ($290,500) at the Phillips sale in New York back in May of this year.

So: it’s a new record! Sort of. By square inch anyway. Read More