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Subject: After Action Report: Phillips Evening sale + Sotheby's Modern Day sale
From: Artelligence <artelligence@substack.com>
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View this post on the web at https://artelligence.substack.com/p/after-acti=
on-report-phillips-evening
Welcome to Artelligence=E2=80=99s Gigaweek Coverage
If you want to share some insights of your own, have suggestions for covera=
ge, a question you want us to poll our readers about, or simply want to ven=
t=E2=80=94feel free to =E2=80=A6
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o sign up.
In This Issue
Phillips Evening sale (with Triton collection): $18m total; 1.15 hammer rat=
io; 96% sell-through rate
About Last Night: Dutch collection helps Phillips continue to gain traction=
as alternative in auction duopoly
Notes: The Richter, Georg Baselitz Hero painting, Helen Frankenthaler=E2=80=
=99s Fire from 1964, Who Says the Frenzy for =E2=80=9CUltra-Contemporary=E2=
=80=9D Is Over?, Bidders & Buyers, Irrevocable Bids
Charts: Results, Top Ten by Premium, Top Ten by Hammer Ratio
Sotheby=E2=80=99s Modern Day sale: $62.5m total; .99 hammer ratio; 74% sell=
-through rate
The Dial
Phillips Evening with Triton Collection =3D $154,649,790
About Last Night
The majority of Phillips sales volume last night came from the sale of work=
from the $84.7m Dutch Triton collection. Phillips continued to grow its sa=
les volume to the second highest level since May of 2022 with an 11% increa=
se over last November=E2=80=99s sales. In a declining market, Phillips is n=
ot getting squeezed out. Estimates were aspirational at Phillips as much or=
more than at other houses but the team was able to get bids on their top l=
ot, a double-panel Richter abstract that had a third-party guarantee. The s=
elling price was a fraction more than the price the same picture made in 20=
18. =20
Notes...
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</style></head><body class=3D"email-body" style=3D"font-kerning: auto;"><im=
g src=3D"https://eotrx.substackcdn.com/open?token=3DeyJtIjoiPDIwMjMxMTE1MTU=
zMDQxLjMuMDNjN2E2MjkyNmRlZmY5MUBtZy1kMS5zdWJzdGFjay5jb20-IiwidSI6MTMzMjY4Nj=
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oZgBnn_VxN4bnDGg" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=3D"h=
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n-left:0 !important;padding-top:0 !important;padding-bottom:0 !important;pa=
dding-right:0 !important;padding-left:0 !important;"/><div style=3D"display=
:none;font-size:1px;color:#333333;line-height:1px;max-height:0px;max-width:=
0px;opacity:0;overflow:hidden;" class=3D"preview">Phillips Achieves 2nd Hig=
hest Evening sale with solid sale of Richter abstract and Fadojutimi record=
price + Sotheby's Modern Day sale relies on a few lots  ‌ =
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8204; ‌ ‌</div><table role=3D"presentation" width=3D"=
100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" class=3D"email-body-=
container"><tr><td></td><td width=3D"550" class=3D"content"></td><td></td><=
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yle=3D"font-size: 16px; line-height: 26px; margin: 0 auto; max-width: 550px=
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t-ssm tw-text-substack-secondary" style=3D"color: rgb(128, 128, 128) !impor=
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raphy" style=3D"font-size: 16px; line-height: 26px; padding: 16px 0 0 0;"><=
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class=3D"post-title published" style=3D"-moz-appearance: optimizelegibilit=
y; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegibi=
lity; -webkit-font-smoothing: antialiased; appearance: optimizelegibility; =
color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-system, B=
linkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple=
Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 32px; font-w=
eight: bold; line-height: 36px; margin: 0;"><a href=3D"https://substack.com=
/app-link/post?publication_id=3D2259&post_id=3D138887192&utm_source=3Dpost-=
email-title&utm_campaign=3Demail-post-title&isFreemail=3Dtrue&r=3D27cer9&to=
ken=3DeyJ1c2VyX2lkIjoxMzMyNjg2NjEsInBvc3RfaWQiOjEzODg4NzE5MiwiaWF0IjoxNzAwM=
DYyMzA4LCJleHAiOjE3MDI2NTQzMDgsImlzcyI6InB1Yi0yMjU5Iiwic3ViIjoicG9zdC1yZWFj=
dGlvbiJ9.pbgNP7CX-oGCVyO9CnEirxZeqc1wZM-y6KXdH3iyB14" style=3D"color: rgb(6=
4, 64, 64); text-decoration: none;">After Action Report: Phillips Evening s=
ale + Sotheby's Modern Day sale </a></h1><h3 class=3D"subtitle" style=3D"-m=
oz-appearance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -w=
ebkit-appearance: optimizelegibility; -webkit-font-smoothing: antialiased; =
appearance: optimizelegibility; color: #808080; font-family: 'SF Compact Di=
splay', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, A=
rial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';=
font-size: 18px; font-weight: normal; line-height: 24px; margin: 4px 0 0; =
margin-top: 12px;">Phillips Achieves 2nd Highest Evening sale with solid sa=
le of Richter abstract and Fadojutimi record price + Sotheby's Modern Day s=
ale relies on a few lots</h3><table role=3D"presentation" width=3D"100%" bo=
rder=3D"0" cellspacing=3D"0" cellpadding=3D"0" class=3D"post-meta" style=3D=
"align-items: center; height: 20px; margin: 1em 0;"><tr><td><table role=3D"=
presentation" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"=
0"><tr><td><table role=3D"presentation" width=3D"auto" border=3D"0" cellspa=
cing=3D"0" cellpadding=3D"0"><tr><td style=3D"vertical-align: middle;"><div=
class=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8 frontend-penc=
raft-Text-module__size-11--k1e8b frontend-pencraft-Text-module__line-height=
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craft-Text-module__font-meta--U_nxy frontend-pencraft-Text-module__color-pr=
imary--ud4Z0 frontend-pencraft-Text-module__transform-uppercase--IDkUL fron=
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stemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Em=
oji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; font-weight: 50=
0; letter-spacing: .2px; line-height: 20px; margin: 0; text-decoration: uns=
et; text-transform: uppercase;"><a style=3D"color: rgb(64, 64, 64); font-fa=
mily: 'SF Compact', -apple-system, -apple-system, -system-ui, BlinkMacSyste=
mFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji=
', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; font-weight: 500; =
letter-spacing: .2px; line-height: 20px; margin: 0; text-decoration: none; =
text-transform: uppercase;" href=3D"https://substack.com/@artelligence" cla=
ss=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8 frontend-pencraft=
-Text-module__size-11--k1e8b frontend-pencraft-Text-module__line-height-20-=
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t-Text-module__font-meta--U_nxy frontend-pencraft-Text-module__color-primar=
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Hdd">Marion Maneker</a></div></td></tr></table></td></tr><tr><td><table rol=
e=3D"presentation" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpaddin=
g=3D"0"><tr><td style=3D"vertical-align: middle;"><div class=3D"pencraft fr=
ontend-pencraft-Box-module__reset--VfQY8 frontend-pencraft-Text-module__siz=
e-11--k1e8b frontend-pencraft-Text-module__line-height-20--p0dP8 frontend-p=
encraft-Text-module__weight-medium--x7khA frontend-pencraft-Text-module__fo=
nt-meta--U_nxy frontend-pencraft-Text-module__color-secondary--WRADg fronte=
nd-pencraft-Text-module__transform-uppercase--IDkUL frontend-pencraft-Text-=
module__reset--dW0zZ frontend-pencraft-Text-module__meta--jzHdd" style=3D"c=
olor: rgb(128, 128, 128); font-family: 'SF Compact', -apple-system, -apple-=
system, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Aria=
l, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; fo=
nt-size: 11px; font-weight: 500; letter-spacing: .2px; line-height: 20px; m=
argin: 0; text-decoration: unset; text-transform: uppercase;"><time dateTim=
e=3D"2023-11-15T15:31:27.644Z">Nov 15</time></div></td><td width=3D"4" styl=
e=3D"min-width: 4px"></td><td style=3D"vertical-align: middle;"><table role=
=3D"presentation" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpadding=
=3D"0"><tr><td style=3D"vertical-align: middle;"><div class=3D"pencraft fro=
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ncraft-Text-module__weight-medium--x7khA frontend-pencraft-Text-module__fon=
t-meta--U_nxy frontend-pencraft-Text-module__color-secondary--WRADg fronten=
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lor: rgb(128, 128, 128); font-family: 'SF Compact', -apple-system, -apple-s=
ystem, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial=
, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; fon=
t-size: 11px; font-weight: 500; letter-spacing: .2px; line-height: 20px; ma=
rgin: 0; text-decoration: unset; text-transform: uppercase;">∙</div><=
/td><td width=3D"4" style=3D"min-width: 4px"></td><td style=3D"vertical-ali=
gn: middle;"><div class=3D"pencraft frontend-pencraft-Box-module__reset--Vf=
QY8 frontend-pencraft-Text-module__size-11--k1e8b frontend-pencraft-Text-mo=
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7khA frontend-pencraft-Text-module__font-meta--U_nxy frontend-pencraft-Text=
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m-uppercase--IDkUL frontend-pencraft-Text-module__reset--dW0zZ frontend-pen=
craft-Text-module__meta--jzHdd" style=3D"color: #702dff; font-family: 'SF C=
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I Emoji', 'Segoe UI Symbol'; font-size: 11px; font-weight: 500; letter-spac=
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none; height: 1px; margin: 32px 0; padding: 0;"></div><h2 class=3D"header-w=
ith-anchor-widget" style=3D"-moz-appearance: optimizelegibility; -moz-osx-f=
ont-smoothing: antialiased; -webkit-appearance: optimizelegibility; -webkit=
-font-smoothing: antialiased; appearance: optimizelegibility; color: rgb(64=
, 64, 64); font-family: 'SF Compact Display', -apple-system, BlinkMacSystem=
Font, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji'=
, 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; font-weight: bol=
d; line-height: 1.16em; margin: 1em 0 0.625em 0; position: relative;">In Th=
is Issue</h2><ol style=3D"margin-top: 0; padding: 0;"><li style=3D"margin: =
8px 0 0 32px;"><p style=3D"box-sizing: border-box; color: rgb(64, 64, 64); =
font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-le=
ft: 4px;"><strong>Phillips Evening sale (with Triton collection)</strong><s=
pan>: $18m total; 1.15 hammer ratio; 96% sell-through rate</span></p></li><=
li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; colo=
r: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0; margin-b=
ottom: 0; padding-left: 4px;"><strong>About Last Night: </strong><span>Dutc=
h collection helps Phillips continue to gain traction as alternative in auc=
tion duopoly</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D=
"box-sizing: border-box; color: rgb(64, 64, 64); font-size: 16px; line-heig=
ht: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Notes: <=
/strong><span>The Richter, Georg Baselitz Hero painting, Helen Frankenthale=
r’s </span><em>Fire</em><span> from 1964, Who Says the Frenzy for =
220;Ultra-Contemporary” Is Over?, Bidders & Buyers, Irrevocable B=
ids</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizi=
ng: border-box; color: rgb(64, 64, 64); font-size: 16px; line-height: 26px;=
margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Charts: </strong>=
<span>Results, Top Ten by Premium, Top Ten by Hammer Ratio</span></p></li><=
li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; colo=
r: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0; margin-b=
ottom: 0; padding-left: 4px;"><strong>Sotheby’s Modern Day sale: </st=
rong><span>$62.5m total; .99 hammer ratio; 74% sell-through rate</span></p>=
</li></ol><div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"b=
ackground: #e0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"=
></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-appearance: op=
timizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance:=
optimizelegibility; -webkit-font-smoothing: antialiased; appearance: optim=
izelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -=
apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, san=
s-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-siz=
e: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0=
; position: relative;">The Dial</h2><p style=3D"color: rgb(64, 64, 64); fon=
t-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><strong>Phillips Even=
ing with Triton Collection =3D $154,649,790</strong></p><div class=3D"capti=
oned-image-container-static" style=3D"font-size: 16px; line-height: 26px; m=
argin: 32px auto;"><figure style=3D"margin: 0 auto; width: 100%;"><table cl=
ass=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpad=
ding=3D"0" data-component-name=3D"Image2ToDOMStatic" style=3D"mso-padding-a=
lt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td ali=
gn=3D"left" class=3D"content" width=3D"356" style=3D"text-align: center;"><=
a class=3D"image-link" target=3D"_blank" href=3D"https://substack.com/redir=
ect/a76d07a0-03ed-47d8-949f-18711091b692?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d=
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04-9d4b-466b-8534-4e60b8920449_1024x1024.jpeg" style=3D"-ms-interpolation-m=
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dle; width: auto !important;"></a></td><td style=3D"text-align: center;"></=
td></tr></tbody></table></figure></div><div style=3D"font-size: 16px; line-=
height: 26px;"><hr style=3D"background: #e0e0e0; border: none; height: 1px;=
margin: 32px 0; padding: 0;"></div><h2 class=3D"header-with-anchor-widget"=
style=3D"-moz-appearance: optimizelegibility; -moz-osx-font-smoothing: ant=
ialiased; -webkit-appearance: optimizelegibility; -webkit-font-smoothing: a=
ntialiased; appearance: optimizelegibility; color: rgb(64, 64, 64); font-fa=
mily: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', =
Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji'=
, 'Segoe UI Symbol'; font-size: 1.625em; font-weight: bold; line-height: 1.=
16em; margin: 1em 0 0.625em 0; position: relative;">About Last Night</h2><p=
style=3D"color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margi=
n: 0 0 20px 0;">The majority of Phillips sales volume last night came from =
the sale of work from the $84.7m Dutch Triton collection. Phillips continue=
d to grow its sales volume to the second highest level since May of 2022 wi=
th an 11% increase over last November’s sales. In a declining market,=
Phillips is not getting squeezed out. Estimates were aspirational at Phill=
ips as much or more than at other houses but the team was able to get bids =
on their top lot, a double-panel Richter abstract that had a third-party gu=
arantee. The selling price was a fraction more than the price the same pict=
ure made in 2018. </p><div style=3D"font-size: 16px; line-height: 26px;"><=
hr style=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px 0;=
padding: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-a=
ppearance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webki=
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t Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetic=
a, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symb=
ol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1e=
m 0 0.625em 0; margin-bottom: 0; position: relative;">Notes...</h2></div></=
div><div data-testid=3D"paywall" data-component-name=3D"Paywall" class=3D"p=
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