The Phillips auction house celebrated a remarkable evening on Tuesday as its modern and contemporary art sale generated an impressive total of $115.2 million, significantly surpassing the pre-sale estimate of $84.2 million. This event marked the highest presale estimate for Phillips since the vibrant art market of 2022, with all 40 lots successfully sold, despite two works by Richard Prince and Albert Oehlen being withdrawn prior to the auction.
This total nearly doubles the $61.2 million achieved in November for 31 lots and more than doubles the $52 million from May 2025, reflecting a robust average lot value of $2.9 million, compared to just $1.4 million in the previous May.
Notably, the auction showcased a variety of works by female artists, whose pieces are increasingly gaining recognition in the market. The bidding for Joseph Yaeger's 2021 watercolor, There Is a Light and It Always Goes Out, was particularly intense, with the final price reaching $477,300, far exceeding its estimate of $60,000. This sale set a new benchmark for the artist, surpassing the previous record of $320,000 set just a week prior at Sotheby's.
Additionally, Anna Weyant's early painting of a woman at a dinner table sold for $980,400, against an estimate of $380,000, while Salman Toor's 2020 work fetched $335,400, well above its $180,000 estimate. Works by prominent 20th-century female artists also exceeded expectations, with a rare pastel by Lee Bontecou selling for $4.3 million, tripling its estimate of $1.2 million.
Phillips has been proactive in diversifying its offerings, particularly under the leadership of deputy chairman Jeremiah Evarts. The auction house is now featuring a broader selection of Impressionist, modern, and American paintings, with a total of 80 works this season, up from 65 in 2024. This strategic shift is expected to enhance Phillips' position in the competitive art market.
As the evening sale concluded, it was evident that the art world continues to thrive, with Phillips setting a precedent for future auctions. This strong performance not only underscores the growing appreciation for women's contributions to art but also highlights the auction house's innovative strategies that may shape the future of art sales.
