Phillips
New York, U.S.; London, U.K.; and seven
other locations worldwide
phillips.com
Focus: Modern and contemporary art and design
After resigning his post as senior clerk to auctioneer James Christie, Harry Phillips launched his own venture in London, establishing Phillips in 1796. The house quickly rose among the ranks due to both its founder’s experience and his ability to entertain auction-goers with then novel evening auction receptions. Phillips hosted estate sales for the likes of Marie Antoinette and Napoleon Bonaparte, and once held an auction inside Buckingham Palace. Since hiring Michael McGinnis to begin a contemporary department in 1999, the house has remained progressive. In 2003 the company shifted its headquarters from Midtown Manhattan to the Meatpacking District, near the Chelsea gallery district, signaling its commitment to the contemporary art scene. Recently, the house underscored its strong presence in that market during the Contemporary Art Evening Sale in May, which owes nearly half its total to the sale of Andy Warhol’s Four Marilyns, 1962, for a staggering $38,245,000.
Michael McGinnis, CEO and worldwide head of contemporary art
What was the most successful auction of the past year?
As an auction house focused on a limited number of collecting categories, we have experienced new levels of growth as our core group of contemporary collectors increase their support of photographs, design, and editions sales. This new level of success is reflected not only in turnover figures—by that measure, the May Contemporary Art Evening Sale, totaling $78.6 million, was the standout sale of the season—but also by the relative success of our auctions across all categories. The Curious Collector: Important Photographs from the Collection of Dr. Anthony Terrana, which took place in April, was one of our most successful sales this year. Selling 85 percent by lot and 89 percent by value at $3 million over the high estimate, the auction achieved stellar results and a new auction record for Diane Arbus. April’s London Design Sale was also a standout success, selling 87 percent by lot and 83 percent by value, well over the high estimate, and breaking five artist records.
What was the most exciting or surprising lot?
First and foremost, it was exciting to have multiple bidders over $30 million vying for Warhol’s Four Marilyns at our May Evening Sale. It was a defining moment for Phillips. Then just seven days later, Lygia Clark’s Contra Relevo (Objeto N. 7), 1959, sells for $2,225,000 in the Latin America sale. It sold for almost three times the high estimate, achieving a record for the artist and the highest price achieved for a Brazilian artist at auction. Our strategy of presenting midcentury Latin American art through a contemporary lens is gaining momentum. The sale achieved seven artist records and was one of our strongest sales in this category.
How has the auction house changed since its founding?
The most significant change since Phillips’s founding in 1796 is the focused offering of 20th and 21stcentury art and design. This specialty has allowed us to possess unparalleled expertise in this arena, carve out a unique space within the market, and present works with a cohesive aesthetic viewpoint that always feels current.
What are your plans for the next five years?
We are excited to announce the establishment of our new Berkeley Square location in London. This prominent new space in Mayfair, opening in 2014, will have stunning galleries featuring high ceilings and double-height windows to showcase our exhibitions.
What artist or market should collectors watch?
As the first international auction house to champion emerging artists, Phillips has achieved over 100 auction records for artists in this category. We’ve brought to market many of today’s most sought-after artists, including Tauba Auerbach, Dan Colen, and Os Gêmeos, to name a few. The demand for contemporary art will only expand as new collectors enter the market due to the development of new wealth across the globe and growing interest in the virtues of collecting. We are also keenly attuned to the Brazilian contemporary art market, which has gained breadth and depth over the past two years. Ken Price’s work is also growing in popularity, and on the heels of his Museum of Contemporary Art, Los Angeles, retrospective, the market for his ceramics has expanded. Phillips has been actively engaged in presenting his work, achieving a world record for the artist in the March Art & Design Evening Sale.
What would you buy for your own collection if it came up at auction?
A unique porcelainsocket long light string by Félix González-Torres. I’m a minimalist, and it is poetic minimalism. Simplicity.
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