Artnet News analyzed six standout lots from the marquee May auctions at Christie's and Phillips, highlighting both surprising successes and failures. Among the 'hot lots,' Mark Tansey's study for "The Enunciation" (1992–93) sold for $3.2 million at Christie's—over ten times its low estimate—while Henri Matisse's tiny portrait "Henriette, robe jaune" (1923) fetched $1.4 million, nearly quadrupling expectations. Firelei Báez's "Untitled" (2017) also soared, selling for $381,000 at Phillips, more than triple its high estimate. The article contrasts these with 'top flops,' though the provided text focuses on the successes.
This analysis matters because day sales offer a clearer, unguaranteed view of market demand and shifting collector tastes, revealing which artists are gaining momentum and which are losing favor. The dramatic price swings—such as Tansey's work multiplying its estimate—signal emerging market trends and the volatility of speculative buying, while the strong performance of a small Matisse piece underscores the enduring appeal of blue-chip works with compelling provenance.