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International Edition
May 24, 2012 Last Updated: 3:20:AM EDT

Halsey Minor Finds Another $3 Million at Phillips Day Sale

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Halsey Minor Finds Another $3 Million at Phillips Day Sale

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by Judd Tully
Published: May 17, 2010

Beleaguered art collector Halsey Minor may finally get to enjoy some of the fruits of his collection’s court-ordered sell-off. At Phillips de Pury & Companys contemporary-art day sale today, works from his collection earned $3,033,125, which will be added to the $21 million that his collection took in last night, at Phillips' evening sale. Since the auction house is believed to be sharing some of the buyer's premium with Minor, that may be enough to repay the $21.6 million that a judge recently ruled the collector owes ML Finance, stemming from a loan that he failed to repay.

Twenty-six of the 33 lots offered from Minor's estate found buyers, which translated to a 79 percent sell-through rate by lot and 90 percent by value. It accounted for almost half the day's sales, as the full auction brought in a $7.5 million haul.

The top lot of the day was one of Minor's works, Walton Fords 2006 La Fontaine, in watercolor, gouache, graphite, and ink on paper, depicting a lion tucking into a live crocodile. Estimated to earn $250-350,000, it eventually sold for $746,500 — a healthy performance to follow the artist's $1,022,500 record set last night at Phillips.

Another highlight from the daylight segment of the sale was Takashi Murakamis 2004 Jellyfish Eyes-MAX & Shimon in the Strange Forest, which sold for $530,500, within its $400–600,000 estimate.

There are more Minor lots to come. A chunk of his design collection will go to the auction block at Phillips de Pury on June 9, and will include works by Mark Newson, whose works fared well at last night's sale, as well as pieces by Jasper Morrison and Jean Royere.

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