Basquiat tops $85m Phillips Contemporary sale

Weyant, 27, is represented by mega-dealer Larry Gagosian, who she is dating. Evoking the psychological complexities of being a young woman in the 21st century with the technical precision of a 17th century Old Master, Weyant’s paintings currently top the wish lists of many collectors.

(Christie’s example sold for $1.5 million to an Asian bidder last week. Phillips’ Weyant, a meticulous still life titled “Buffet II,” from 2021, fetched $731,000. estimated between $100,000 and $150,000.)

Experts say the current huge gaps between ‘primary market’ prices at galleries and ‘secondary market’ auction resales for works by in-demand artists have been fueled by a global influx of wealthy young collectors, in particularly in Asia, who follow the careers of up-and-coming names on Instagram but have no way of ending up at the top of dealership waiting lists. Bidding at a public auction gives them access to the names they want, even if it means paying what seem to strangers to be irrational prices.

“There’s a new generation of collectors who can’t afford a $50 million Picasso, but who can spend $5 million on a young artist who they believe will stand the test of time,” he said. said New York-based art consultant Wendy Cromwell. Cromwell added that she had purchased paintings by Weyant from other galleries for less than $30,000, prior to the artist’s representation with Blum & Poe.

With social media being the echo chamber that it is, potential auction buyers tend to chase the same names of the moment. Phillips, like Christie’s and Sotheby’s, also included hard-to-find works by Shara Hughes, Matthew Wong, and María Berrío. “The Not Dark Dark Spots,” a quintessentially dreamlike Hughes landscape from 2017, fetched $1.6 million after seven minutes of competition. He had carried a low estimate of $300,000. An exuberant large-scale collage by New York-based Colombian artist Berrío has soared to $998,000. A vision of fin-de-siècle women reclining in an interior filled with flowers and bunnies, “Burrows of the Yellow” dated from 2013 and had a low estimate of $400,000.

A newcomer to watch was Brooklyn-based female figurative painter Robin F. Williams, who has 108,000 Instagram followers but whose works had not previously sold at auction for more than $40,000.

Laura J. Boyer