 Phillips' headquarters in London | |
| Company type | private company |
|---|---|
| Industry | auctioneering |
| Founded | 1796 |
| Founder | Harry Phillips |
| Headquarters | London , United Kingdom |
| Parent | Mercury Group |
| Website | phillips |
Phillips, formerly known as Phillips the Auctioneers and briefly as Phillips de Pury, is a British auction house. It was founded in London in 1796, and has head offices in London and in New York City. [1] In 2022 it was owned by the Mercury Group, a Russian luxury goods company. [2]
Phillips was founded in 1796 by Harry Phillips, who had been a clerk to James Christie. The business held twelve auctions in its first year and soon became successful. Napoleon and Beau Brummel were among the early patrons. Harry Phillips died in 1840, and the business passed to his son William Augustus, who renamed it Phillips & Son; when his son-in-law Frederick Neale joined in 1882, the company became Phillips, Son & Neale. It was renamed Phillips in the 1970s; [1] it was usually referred to as Phillips, the Auctioneers. In 1998, the company bought Selkirk, then a 168-year-old St. Louis auction house. [3]
In 1999 a majority stake in the company was sold to venture capitalists 3i, who resold it shortly after for a considerable profit.[ citation needed ] The company was bought in 1999 by Bernard Arnault of LVMH Moët Hennessy – Louis Vuitton. [1] [4] After a series of disastrous sales and extremely heavy losses, the UK operations were sold to Bonhams in 2001 and merged into that company. [5] Most of the rump of the business was closed; some smaller departments were acquired by Simon de Pury and Daniella Luxembourg, who traded under the name Phillips de Pury & Company. [6] In 2002 Simon de Pury acquired majority control of the firm. [1]
On 6 October 2008, the company was purchased by the Russian Mercury Group, [1] which paid approximately $60 million for it.[ citation needed ] De Pury sold his remaining shares to Mercury in late 2012, and left the company. [7] The name was changed back to Phillips. [6] [7]
In December 2018 the company signed a contract for retail space at 432 Park Avenue including the Park Avenue Cube beside the tower, with approximately 5000 m2 (55000 sq ft) at the base of the tower and a further 3000 m2 (30000 sq ft) underground. [8] [9] [10]
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory.
Christie's is a British auction house founded in 1766 by James Christie. Its main premises are on King Street, St James's in London, and it has additional salerooms in New York, Paris, Hong Kong, Milan, Amsterdam, Geneva, Shanghai, and Dubai. It is owned by Groupe Artémis, the holding company of François Pinault. In 2022 Christie's sold US$8.4 billion in art and luxury goods, an all-time high for any auction house. On 15 November 2017, the Salvator Mundi was sold at Christie's in New York for $450 million to Saudi Prince Badr bin Abdullah bin Mohammed bin Farhan al-Saud, the highest price ever paid for a painting.
Sotheby's is a British-founded multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and maintains a significant presence in the UK.
Bernard Jean Étienne Arnault is a French businessman, investor and art collector. He is the founder, chairman and CEO of LVMH, the world's largest luxury goods company. Arnault is the second richest person in the world, with an estimated net worth of US$202 billion as of 3 June 2024, according to Forbes.
Bonhams is a privately owned international auction house and one of the world's oldest and largest auctioneers of fine art and antiques. It was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son & Neale. This brought together two of the four surviving Georgian auction houses in London, Bonhams having been founded in 1793, and Phillips in 1796 by Harry Phillips, formerly a senior clerk to James Christie.
Ritchie Bros. Auctioneers (RBA), or simply Ritchie Bros., is a publicly traded Canadian company based in Chicago, Illinois. Its common shares are traded on the New York and Toronto stock exchanges.
Harry B. Macklowe is an American real estate developer and investor based in New York City.
Heritage Auctions is an American multi-national auction house based in Dallas, Texas. Founded in 1976, Heritage is an auctioneer of numismatic collections, comics, fine art, books, luxury accessories, real estate, and memorabilia from film, music, history, and sports.
Louise Thérèse Viger Blouin is a Canadian magazine publisher. She is owner of Louise Blouin Media, which she founded.
Skinner was an American auction house headquartered in Marlborough, Massachusetts. It has been among the world's leading auction houses for antiques and fine art.
Art valuation, an art-specific subset of financial valuation, is the process of estimating the market value of works of art. As such, it is more of a financial rather than an aesthetic concern, however, subjective views of cultural value play a part as well. Art valuation involves comparing data from multiple sources such as art auction houses, private and corporate collectors, curators, art dealer activities, gallerists, experienced consultants, and specialized market analysts to arrive at a value. Art valuation is accomplished not only for collection, investment, divestment, and financing purposes, but as part of estate valuations, for charitable contributions, for tax planning, insurance, and loan collateral purposes. This article deals with the valuation of works of fine art, especially contemporary art, at the top end of the international market, but similar principles apply to the valuation of less expensive art and antiques.
Vladimir Restoin Roitfeld is a French-American businessman and President of CR Fashion Book Ltd., the media company that publishes the namesake biannual style magazine founded by his mother, Carine Roitfeld. He leads business strategy, business development, partnerships, and extensions of the CR Fashion Book brand across publishing, licensing, and consulting, including an international partnership with Hearst Communications Inc. Under his leadership, CRFB has revitalized its companion men's publication, CR MEN, launched its first international edition, CR Fashion Book Japan, and produced special projects, including an annual calendar CR Women. Roitfeld is also President of CR Studio, a creative and production agency that he launched with clients ranging from Christian Dior and Chanel to Yeezy and Philipp Plein.
Abram Simon Léonor Christian de Pury commonly known as Simon de Pury is a Swiss auctioneer, art dealer, curator, collector, dj and photographer In 2002, he acquired the majority control of the auction house Phillips. He has appeared in several television programs and films, including the Bravo network reality series Work of Art: The Next Great Artist. His book The Auctioneer: Adventures in the Art Trade was published in 2016.
432 Park Avenue is a residential skyscraper at 57th Street and Park Avenue in Midtown Manhattan in New York City, overlooking Central Park. The 1,396-foot-tall (425.5 m) tower was developed by CIM Group and Harry B. Macklowe and designed by Rafael Viñoly. A part of Billionaires' Row, 432 Park Avenue has some of the most expensive residences in the city, with the median unit selling for tens of millions of dollars. At the time of its completion in 2015, 432 Park Avenue was the third-tallest building in the United States and the tallest residential building in the world. As of 2023, it is the sixth-tallest building in the United States, the fifth-tallest building in New York City, and the third-tallest residential building in the world.
Paddle8 was an online auction house based in New York City selling fine art including Post-War and Contemporary art, prints & multiples, photography, street art and collectibles. Paddle8's sales focus on pieces priced between $1,000 and $100,000, all vetted by specialists for authenticity. Paddle8 had offices in New York, Los Angeles, London and Hong Kong. In 2016, Paddle8 merged with the Berlin online auction house Auctionata. In February 2017, Auctionata declared insolvency and Paddle8 became an independent company once again, before selling to Native in 2018, and then to Facebank AG in 2019. In March 2020, Paddle8 filed for Chapter 11 bankruptcy protection in New York just one week after the non-profit New American Cinema Group filed a lawsuit against the company for allegedly misappropriating funds from a charity auction.
Alexander Mark Heming Gilkes is a British businessman. He is the co-founder of venture studio Squared Circles, which launched in 2020. He was previously the co-founder and president of online auction house Paddle8 from 2011 to 2018, when it was sold to The Native.
Charlie Ross is a British antiques expert, presenter and auctioneer, known for regular appearances on several BBC Antique programmes.
450 Park Avenue is an office building on Park Avenue in Midtown Manhattan in New York City. The building has 33 floors and is 390 feet (120 m) tall.
Daniella Luxembourg is an Israeli art dealer based in London.
| International | |
|---|---|
| National | |
