Spirited Phillips Sales Cap Contemporary Week

Willem de Kooning
“Untitled XVI” (1982)
$5,865,000
Est. $5–7 million

Late, lyrical de Koonings have become such a cornerstone of the postwar and contemporary market that it’s hard to imagine their importance was once seriously questioned. This particularly beautiful and oft-exhibited example being offloaded by Steve Cohen (and most recently included in a show at L&M Arts that doesn’t actually close until tomorrow) was the standout lot at Phillips last night. It graced the cover of their catalog, and its estimate was more than twice as high as anything else on offer. But when it came up as lot 46 last night, the whole affair seemed downright routine, as though a large-scale de Kooning going for about $5 million is the sort of thing that happens all the time. Which I guess is, in fact, the case. Despite Simon de Pury’s efforts, no excitement at all attended this sale.

Courtesy Phillips de Pury & Company