Lot 211 - Phillips De Pury, Modern and Contemporary Editions, November 23rd
ED RUSCHA
Yo, 1991
Lithograph, on Arches paper, with full margins, I. 6 x 4 1/4 in. (15.2 x 10.8 cm) S. 12 x 12 in. (30.5 x 30.5 cm)  signed, dated and numbered 7/30 in pencil (there was also an edition of 10 in Roman numerals), published by Tamarind Institute, Albuquerque (with their blindstamps), in excellent condition, framed.
ESTIMATE $1,800-2,500

For this months Interesting Lots, I decided to turn my attention to the print market and two auctions happening in the coming week, Prints & Multiples at Christie’s in London and a very strong Modern and Contemporary Editions at Phillips De Pury in New York.  Big names and great pieces at affordable prices.  After the jump, some excellent options.

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You have to love a story like this.  Man puts car on ebay for $500, thinking it is worth nothing.  Car ends up selling for over $200,000.  That is the car above and you can read more about it at AutoBlog

photo (I typed in art market into google images)

Jerry Saltz breaks it down for New York Magazine.

Some of my favorites

“As for artists, too many have been getting away with murder, making questionable or derivative work and selling it for inflated prices. They will either lower their prices or stop selling. Many younger artists who made a killing will be forgotten quickly. Others will be seen mainly as relics of a time when marketability equaled likability.”

“I hope many of the speculators who never really cared about art will go away. Either way, money will no longer be the measure of success. It hasn’t made art better. It made some artists—notably Hirst, Murakami, Prince, and maybe Piotr Ukla´nski—shallower.”

Read the article here

Lot 397: Saturday @ Phillips, October 25th
BARRY MCGEE
Untitled, 1997
Acrylic and spraypaint on wood. 48 x 120 x 3/4 in. (121.9 x 304.8 x 1.9 cm).
ESTIMATE $12,000-18,000

FAILED TO REACH ESTIMATE.

By the look of the lots featured in this post, you would not think that there has been a huge correction in the street ‘urban’ art market, well there has.  Most of the pieces covered in Interesting Lots hit their estimates or exceeded expectation but, on a whole these are rarities.  I will cover this months auctions more in depth tomorrow, but for today, have a look at some of the winners and unfortunately the McGee above that was orphaned once again.

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Some brilliance to carry you through the weekend.  You must read