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Mark Rothko's "Untitled (Red, Blue, Orange)," 1955. (Courtesy Phillips )

Phillips Closes Auction Season on a Quietly Upbeat Note (By Judd Tully)

Phillips' season-ending contemporary art evening sale on Thursday delivered $130,905,000, making it the Russian-owned auction house's biggest sale to date. It easily trumped last May's $78.6 million result for 30 lots sold - as compared to 37 on Thursday - and it even eclipsed the one-off "Carte Blanche" auction organized at the boutique house by Philippe Segalot in November 2010, which made $117 million.

Nine of the 46 lots offered on Thursday failed to sell, for a respectable buy-in rate by lot of 20 percent and ten percent by value. The tally, including commissions, nicked the low-end of pre-sale expectations, which were pegged at $126,200,000- 181,150,000 - though the $114,110,000 hammer total came up shy. (Estimates do not reflect commission charges.)

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Home / Artist News / Phillips Closes Auction Season on a Quietly Upbeat Note (By Judd Tully)

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