The Phillips Art Auction in New York City offers the opportunity to purchase fine art works from emerging artists. This auction features more than 3,140 lots from 1,214 artists and a sales value of $489,476,494 USD. Of this amount, 28% were sales of prints and graphic art. The highest estimate of $7.3 million was missed, but the hammer low estimate of $6.7 million was met.
The auction will feature works by 50 contemporary artists and will benefit the nonprofit organization One Drop, a Montreal-based water charity. Additionally, American businessman Roger Sant is selling thirty artworks from his personal collection. The auction will raise funds for Sant’s foundation, the Summit Foundation. It is expected to raise over $50 million for the charity.
The Phillips Art Auction changed owners in the late 20th century. In the early 21st century, the company focused more on Contemporary Art, Design, Photography, and Editions. In 2008, the company was acquired by the Mercury Group. The company now has offices in London, Geneva, Hong Kong, and New York. Its offices are open from 10am to 6pm on Monday through Saturday, but evening auctions are not part of its regular hours.
In July of 2000, Edward Dolman, who had spent nearly 30 years with Christie’s, joined the Phillips as its Chief Executive Officer. He brought with him a highly experienced staff. He also introduced a new strategy for the auction house. Phillips also expanded its operations in Hong Kong, gaining a foothold in the rapidly-growing Asian market. The Phillips Art Auction has galleries in Hong Kong, Japan, Taipei, and Singapore. Its Asian offices saw 77 percent growth in buying activity during its fiscal year of 2019.