Lichtenstein's Woman with Peanuts sees $10.8m in Phillips auction

Phillips' Contemporary Art Evening auction in New York, the first of this week's major contemporary art sales, has been led by Roy Lichtenstein's Woman with Peanuts.

Roy Lichtenstein Woman with Peanuts
The work found a buyer, having previously failed to sell at Christie's in 2003

Pop art prevailed in the November 11 sale, with Woman with Peanuts selling for $10.8m against a $10m-15m estimate.

The work was previously offered by Christie's in 2003 with a $2.5m-3.5m estimate, but failed to sell.

Phillips usually holds its contemporary art auction after the major auction houses, but this year decided to start the week, hoping to catch early buyers. "It was a last-minute decision, but it was a good one," chief executive Michael McInnis told the New York Times.

Andy Warhol Nine Gold Marilyns
Jose Murabi owns the world's largest private collection of Andy Warhol's work

Warhol collector Jose Mugrabi was in attendance, snapping up Nine Gold Marilyns for $9.1m, a 15.1% increase on the $7.9m it sold for in 2011. Mugrabi owns more than 800 Warhols, and influences much of the market for his work.

Christie's will offer Warhol's Coca-Cola (3) later today (November 12), while Sotheby's competes on November 13 with Silver Car Crash (Double Disaster).

David Hammons basketball chandelier
Much of Hammons' work is centred around his commitment to the civil rights and black power movements

David Hammons' Untitled, 2000, a chandelier covered basketball hoop, attracted three bidders and was eventually bought by New York dealer David Zwirner for $8m.

Also selling well was Jeff Koons' Buster Keaton, a life size rendition of the actor atop a tiny horse, which sold for $4.4m.

Koons' Balloon Dog is expected to see a new record for the artist at Christie's today.

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