NEW YORK / LONDON / HONG KONG – 3 AUGUST 2021 –
Phillips is pleased to announce results from the Spring 2021 Sale Season (January through July).
AUCTION SALES TOTAL – $452,006,870, Up 15% from Spring 2019
PRIVATE SALES TOTAL – $90,673,838, Up 107% from Spring 2019
GRAND TOTAL IN SALES FOR SPRING 2021 – $542,680,708, Up 25% from Spring 2019
Edward Dolman, Phillips’ Chief Executive Officer, and Cheyenne Westphal, Phillips’ Global Chairwoman, said, “The Spring 2021 sales were truly extraordinary, surpassing pre-pandemic levels with strong international participation across all of Phillips’ platforms. Our several “White Glove” sales across New York, Geneva and Hong
Kong demonstrate a great sense of optimism and confidence in the market and have led to Phillips maintaining the highest sell-through rates in the industry. There is a palpable energy around the new generation of artists, and this season yielded soaring artist records for emerging artists who are making an important impact in our time.”
HIGHLIGHTS FROM THE AUCTION ROOM
● Auction Sales were up 15% from H1 2019.
● Phillips achieved the highest sale total in company history for auctions of New Now, Design, Editions, and Watches.
● Several “White Glove” sales across Phillips’ global salerooms:
● The 20th Century & Contemporary Art New York Evening Sale was among the most successful in company history – totaling $118.2 million with 100% Sold. New records set for Cinga Samson, Avery Singer, Vija Celmins, Titus Kaphar, and Julie Curtiss.
● Phillips sold 100% of all watches offered across Hong Kong, Geneva, and online sales, realizing over $68 million total. An unprecedented result was achieved at the Geneva Watch Auction: XIII — the sale totaled $42.3 million, among the highest watch auction totals in history. The Hong Kong Watch Auction: XII marked the first various owner, non-thematic ‘white glove’ watch sale in Asia in history.
● The spectacular Patek Philippe, reference 2523 with “Eurasia” dial from 1953, one of only three examples known to date with a cloisonné enamel dial, sold for $7.8 million, the highest price ever for a Patek Philippe wristwatch with enamel cloisonné dial and for any yellow gold wristwatch ever sold at auction.
● 100% sold, double ‘white glove’ 20th Century & Contemporary Art & Design sales in Hong Kong realised a combined sale total of HK$702 million/ US$90.4 million, with 86% of lots sold above high estimates, marking a 191% increase from Spring 2019.
RISE IN ASIA
● In H1 2021, Asia-based buyers account for 34% of Phillips’ global sales.
● Phillips’ Asia-based clients are active on a masterpiece level, among the top ten lots auctioned by Phillips worldwide in 2021, 40% of lots were bought by buyers from Asia.
● Phillips’ Hong Kong Spring auctions achieved HK$946 million/ US$122 million with four white glove sales, achieving an industry leading combined sell-through rate of 94%, a 121% increase over the previous year (107% increase since Spring 2019) and the highest season total for Phillips in Asia.
● Yoshitomo Nara’s Missing in Action sold for over US$15 million in Hong Kong, setting the second highest price for the artist at auction and the highest auction price for the artist in 1H 2021.
PHILLIPS MAKES THE MARKET
● New auction records were set for a great many artists across all categories including those for Kehinde Wiley, Katherine Bernhardt, Avery Singer, Jennifer Guidi, Flora Yukhnovich, Hernan Bas, Katherine Bradford, Kathy Butterly, Tunji Adeniyi-Jones, Rose Wylie, Eddy Kamuanga Ilunga, Niniko Morbedadze, Carlo Scarpa, Jean Dunand, Katsu Hamanaka, Ron Arad, Salman Toor, Emily Mae Smith, Jadé Fadojutimi, Sanya Kantarovsky, Madelynn Green, Hopare and Ye Linghan.
● Several artists were introduced to the secondary market, including Rebecca Ness, Felipe Baeza, and Soimadou Ali Ibrahim, Allison Zuckerman, Nikki Maloof, Brandon Landers, and Lina Iris Viktor
● The New Now sales in both London and New York achieved record totals, underscoring Phillips’ strong hold on the market for emerging artists.
● Phillips’ Photographs sales across London and New York saw strong international demand, setting new records for Alec Soth, Todd Webb, Myoung Ho Lee, Steve McQueen, Saul Leiter, Dinh Q. Lê, and Tokihiro Sato.
● In April, Phillips sold its first NFT with Mad Dog Jones’ Replicator, setting a record for a living Canadian artist. Bitchcoin, Sarah Meyohas’ Cloud of Petals Project, Jennifer & Kevin McCoy’s Quantum Leap and Lady Gaga’s first NFT which figured prominently in the TCA NY Day Sale. In July, Phillips sold a series of NFTs created by contemporary artist ThankYouX in collaboration with award-winning film score composer Hans Zimmer, and $ht Coin by White Male Artist, aka the artist Cassils.
STRENGTH IN PRIVATE SALES
● Private Sales were up 107% from H1 2019 continuing to drive sales globally throughout the year. Phillips produced several exciting selling exhibitions globally including Hebru Brantley, Flawless: Women to Women, Ground / Breaking, Phillips X Andreas Emenius and Milton Avery: A Sense of Place, in association with the Milton Avery Trust & Waqas Wajahat.
● Perpetual had an increase in sales of 81% from Q1 to Q2 of 2021 alone. Total Perpetual sales for this year have already reached $8 million.
DIGITAL ENGAGEMENT
● 122% increase in visitors to the website
● 126% increase in new clients to the website
● 84% increase in the number of lots sold online
● 184% increase in the value of works sold online
All compared to H1 2019
GRAND OPENING OF NEW HEADQUARTERS
Phillips was thrilled to unveil its sensational new headquarters in New York at 432 Park Avenue to great acclaim, with the June exhibition of 20th Century and Contemporary Art. Designed by Markus Dochantschi of StudioMDA, the innovative vision unites the interior, exterior, and piazza, creating a sense of community by engaging the millions of international passers-by from the sidewalk. The space redefines the centuries-old auction experience as 432 Park Avenue is the only auction room in Manhattan visible from the street and the company looks forward to welcoming bidders into the new saleroom as regulations allow.
＞ Please click here for a video lookback at the season.
CORPORATE UPDATES
● In April, Phillips launched Phillips Art Advisory, offering a comprehensive suite of services that supports clients through every stage of their collection’s life cycle—from the initial acquisition of an artwork to long-term collection development and management.
● After seven years in his role as Chief Executive Officer, Edward Dolman will be appointed Executive Chairman of Phillips’ Group of Companies. Phillips is proud to welcome Stephen Brooks as the company’s new CEO, beginning in September.
＞Phillips Art Advisory,
Phillips’ Top Lots of Spring 2021
Yoshitomo Nara
Missing in Action
2000
8 June, Hong Kong
SOLD FOR:
HK$123,725,000
US$15,948,153
£13,090,105
€11,271,348
Estimate on Request
Gerhard Richter
Abstraktes Bild (940-7)
2015
8 June, Hong Kong
SOLD FOR:
HK$95,100,000
US$12,258,390
£10,061,580
€8,663,610
Estimate: HK$75,000,000 – 95,000,000
David Hockney
A Neat Lawn
1967
23 June, New York
SOLD FOR:
$11,000,000
£7,875,890
€9,219,100
Estimate: $9,500,000 – 10,500,000
Wayne Thiebaud
Winding River
2002
23 June, New York
SOLD FOR:
$9,809,000
£7,023,146
€8,220,923
Estimate : 6,000,000 – 8,000,000
Patek Philippe
Ref. 2523
A previously unknown, first of its kind, extremely important, rare and attractive yellow gold worldtime wristwatch with two crowns and “Eurasia” cloisonné enamel dial
1953
8-9 May, Geneva
SOLD FOR:
CHF7,048,000
$7,701,678
€6,427,776
Estimate: In Excess of 3.5 million
Vija Celmins
Untitled (Ocean)
1987-1988
23 June, New York
SOLD FOR:
$7,748,000
£5,547,491
€6,493,599
Estimate: $5,500,000 – 6,500,000
Takashi Murakami
Red Demon and Blue Demon with 48 Arhats
2013
23 June, New York
SOLD FOR:
$6,080,000
£4,353,219
€5,095,648
Estimate: $3,500,000 – 4,500,000
Jean Dubuffet
La féconde journée
1976
15 April, London
SOLD FOR:
$6,039,265
£4,378,500
€5,041,405
Estimate: £1,500,000 – 2,000,000
David Hammons
It’s Not Necessary
1990
23 June, New York
SOLD FOR:
$5,475,000
£3,920,045
€4,588,598
Estimate: $800,000 – 1,200,000
Brice Marden
Elements III
1983-1984
23 June, New York
SOLD FOR:
$5,233,000
£3,746,776
€4,385,777
Estimate: $3,200,000 – 3,800,000
ABOUT PHILLIPS
Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of 20th Century and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London, Geneva, and Hong Kong, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world. In addition to providing selling and buying opportunities through auction, Phillips brokers private sales and offers assistance with appraisals, valuations, and other financial services.
Visit www.phillips.com for further information.
*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.
PRESS CONTACTS:
NEW YORK – Magda Grigorian, Chief Communications Officer mgrigorian@phillips.com
+1 212 940 1384
NEW YORK – Jaime Israni, Public Relations Director, Americas jisrani@phillips.com
+1 212 940 1398
LONDON – Katie Carder, Head of Press, Europe kcarder@phillips.com
+44 20 7901 7938
HONG KONG – Ingrid Hsu, Public Relations Director, Asia Ingridhsu@phillips.com
+852 2318 2043
PHILLIPS NEW YORK – 450 Park Avenue, New York, NY 10022
PHILLIPS LONDON – 30 Berkeley Square, London, W1J 6EX
PHILLIPS HONG KONG – 14/F St. George’s Building, 2 Ice House Street, Central Hong Kong
PHILLIPS GENEVA – Rue de la Confédération, 7 Geneva 1204
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