London, 10 April 2025 - Phillips' New Now: Modern & Contemporary Art sale in London realized £3,300,857 (US$4,246,553 / €3,849,459), with 126 of the 160 lots offered finding buyers for a sell-through rate of 79 percent by lot and 85 percent by value. The sale was led by Cai Guo-Qiang's Poppy Series: Animals No. 2, which soared to more than eleven times its presale estimate, and it set a new world auction record for Sangbin IM.
Louise Simpson, Associate Specialist and Head of New Now in London, said the house was "delighted with the results of today's New Now: Modern & Contemporary Art auction, which achieved a total of £3.3 million." She noted that "in true New Now fashion, the top ten lots reflected a dynamic mix of blue-chip names and cutting-edge talent," led by the work of Cai Guo-Qiang and by Tony Cragg's Runner. She added that the season "marked the debut of ULTIMATE within the New Now sale," which achieved a strong 92 percent sell-through rate, and that with collectors from over 50 countries bidding online, by phone, and in the room, the sale "reaffirmed the global reach and continued momentum of the middle market."
The leading lots
Cai Guo-Qiang's Poppy Series: Animals No. 2 (2016) anchored the sale, selling for £571,500 (US$735,235 / €666,483) against an estimate of £50,000 to £70,000. Tony Cragg's Runner (2009) followed at £190,500 (US$245,078 / €222,161), and Sherrie Levine's Horned Steer Skull (2002) realized £114,300 (US$147,047 / €133,297). Gerhard Richter's Park (1990) and Christopher Wool's Untitled (1989) each brought £107,950 (US$138,878 / €125,891).
Further depth came from Jennifer Guidi's Light on the Mountain (Painted Green Sand #7A, Light Pink-Pink-Orange-Yellow Sky, Dark Purple-Blue Mountain, Green Ground) (2020), which sold for £82,550 (US$106,201 / €96,270), and Peter Beard's Waterbuck Family on the Uaso Nyiro/ for The End of the Game/ Last Word from Paradise, photographed in 1968 and executed no later than 1997, at £81,280 (US$104,567 / €94,789). Miriam Cahn's ergeben (1996) reached £69,850 (US$89,862 / €81,459), Andy Warhol's Shadow (1979) brought £63,500 (US$81,693 / €74,054), and Jenny Holzer's Under a Rock (1986) closed the top ten at £60,960 (US$78,425 / €71,092).
A new world record
The sale set a new world auction record for Sangbin IM, whose Central Park 2 (2007) achieved £27,940 (US$35,945 / €32,584), more than double its presale estimate of £12,000 to £18,000 and surpassing the artist's previous record of £15,240, set in 2024. Looking ahead, Phillips will hold its next Modern & Contemporary Art sales in New York on 13 and 14 May.
Top ten lots
| Lot | Artist and work | Estimate | Price achieved |
|---|---|---|---|
| 31 | Cai Guo-Qiang, Poppy Series: Animals No. 2, 2016 | £50,000 to £70,000 | £571,500 (US$735,235 / €666,483) |
| 10 | Tony Cragg, Runner, 2009 | £180,000 to £250,000 | £190,500 (US$245,078 / €222,161) |
| 21 | Sherrie Levine, Horned Steer Skull, 2002 | £90,000 to £150,000 | £114,300 (US$147,047 / €133,297) |
| 12 | Gerhard Richter, Park, 1990 | £70,000 to £100,000 | £107,950 (US$138,878 / €125,891) |
| 16 | Christopher Wool, Untitled, 1989 | £60,000 to £80,000 | £107,950 (US$138,878 / €125,891) |
| 3 | Jennifer Guidi, Light on the Mountain (Painted Green Sand #7A, Light Pink-Pink-Orange-Yellow Sky, Dark Purple-Blue Mountain, Green Ground), 2020 | £20,000 to £30,000 | £82,550 (US$106,201 / €96,270) |
| 70 | Peter Beard, Waterbuck Family on the Uaso Nyiro/ for The End of the Game/ Last Word from Paradise, photographed in 1968 and executed no later than 1997 | £30,000 to £50,000 | £81,280 (US$104,567 / €94,789) |
| 9 | Miriam Cahn, ergeben, 1996 | £50,000 to £70,000 | £69,850 (US$89,862 / €81,459) |
| 15 | Andy Warhol, Shadow, 1979 | £60,000 to £80,000 | £63,500 (US$81,693 / €74,054) |
| 17 | Jenny Holzer, Under a Rock, 1986 | £40,000 to £60,000 | £60,960 (US$78,425 / €71,092) |
Lots 11, 52, and 112 were sold after the lots closed, whilst the sale was ongoing, and are therefore included in the total sale result.
Estimates do not include buyer's premium; prices achieved include the hammer price plus buyer's premium. Exchange rate on 10 April 2025: GBP£1 = US$1.2865 / €1.1662 / HK$9.9876.
(Press Release)
