Phillips's recent evening sale of modern and contemporary art in New York saw a total hammer price of $44.2 million, falling short of the pre-sale estimate of $45.3 to $65.8 million. It mirrored last year's auction results with five lots unsold and a significant year-over-year decrease in total sales, down from $72.3 million. High points included artworks from Yu Nishimara and Kiki Kogelnik, the latter setting a new auction record. The auction also indicated a mixed market, with both successful sales and unsold lots highlighting current trends in the art world.
Phillips's modern and contemporary art sale in New York brought in $44.2m in hammer total, slightly under its low estimate, reflecting a substantial drop from last year's results.
Despite the challenging auction landscape, individual sales like Kiki Kogelnik's Rainy achieving a new record demonstrate pockets of vibrant demand for modern art.
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