Art And Auctions News

London's Summer Auctions: Disappointing Sales and Surprising Results

Phillips' "20th Century to Now" sale in London concluded the city's summer auctions with lackluster results, bringing in just over £9 million ($11.4 million), in contrast to the more successful auctions held by Christie's and Sotheby's. Several lots failed to reach their reserve prices, including works by Warhol, Banksy, and Kusama. The sale featured a collection from the late Thomas B. Lemann, with some works selling below their estimates. However, the auction ended on a high note with Albert Willem's artwork fetching an astonishing £180,000 ($290,239) against an estimate of £10,000-£15,000.