Phillips auction house to open gallery in Los Angeles after record half-year results

Phillips New York. The auction house will open a gallery in Los Angeles later this year.

Auction sales rose 30% to $590 million in the first half and private sales rose 72% to $156 million.

The numbers are its best semesters yet and it hopes to be on track to break its record full-year sales total that was set in 2021 with sales of $1.2 billion (up 32 % compared to 2019).

The company said 44% of online and live auction buyers were first-time Phillips buyers.

Phillips’ watch department continued its 18-month streak of selling 100% of auction lots in Geneva, Hong Kong and New York, with watch auctions reaching $127.2 million.

Stephen Brooks, Managing Director, said: “It has been an extraordinary season of growth at Phillips. From hosting our most successful auction in company history to announcing our expansion into Hong Kong and Los Angeles, the momentum of our record-breaking 2021 year has continued this spring.

Phillips LA

A computer rendering of Phillips Los Angeles. Image: Training Association.

The new LA gallery will open in the fall in West Hollywood.

The 2,600 square foot venue at 9041 Nemo Street was designed by Formation Association and will host exhibitions dedicated to traveling highlights of auctions in New York, London, Hong Kong and Geneva, as well as private sales exhibitions specially organized for space, round tables, and events.

Phillips said that over the past six years he has assembled a team of specialists in Los Angeles, including Blake Koh, regional manager in Los Angeles; Rebekah Bowling, Senior Specialist and Head of 21st Century Art; and Meaghan Roddy, West Coast Design Manager.