Jonathan Crockett, Chairman for Asia, at 2023 opening festivities for Phillips' new Asia headquarters in Hong Kong.
2023 MARKED ANOTHER YEAR OF BOLD INNOVATIONS FOR PHILLIPS
- Phillips’ two highest sale totals in company history were realized in the past two consecutive years
- Global sell-through rate of 88%
- Approximately 50% of clients were first-time buyers at Phillips across live and online-only auctions
- Further, one third of private buyers were Millennials or Gen Z collectors, helping to drive success and record prices across each of our categories
- Global Evening Sale sell-through rate of 95% for 20th Century & Contemporary Art
- 120 artists made their debut at auction with Phillips in 2023
- Gerhard Richter’s Abstraktes Bild (636), Phillips’ highest value lot of 2023 was won by a collector based in Asia
- 2023 marked the second most successful year for Watch sales by Phillips in Association with Bacs & Russo
- World auction records across all categories including for Patek Philippe Reference 96, Jadé Fadojutimi, Caroline Kent, Lucie Rie, Dawoud Bey, Lois Dodd, Prince Gyasi, Ikkō Narahara, Mona Kuhn, Roger Smith (for any British timepiece), and editions by David Hockney, Jasper Johns, Andy Warhol, and Roy Lichtenstein (at time of sale)
- White Glove Sales at Phillips included our first annual David Hockney auction, Provincetown Printers, Casa Fornaroli, Triton Collection Foundation, and Watches Hong Kong and New York 100% sold three years running
New Saleroom and Galleries
In terms of our footprint, 2023 marked another year of global expansion for Phillips. In the Spring, we debuted our new Asia headquarters in Hong Kong, situated within the West Kowloon Cultural District, where we welcomed more than 30,000 visitors in our first two months of operations. Ours is the first purpose-built saleroom and gallery in Hong Kong for any international auction house. Phillips also launched a new outpost in the heart of Milan’s historic center, underscoring our commitment to fostering growth in Italy and investing in key markets across Europe.
Expanded Luxury Offerings
This growth continued with our inaugural Geneva Jewels Auctions, which achieved CHF 20.3 million (US$22.5 million), including the sale of a superb Fancy Intense Pink diamond CHF 11.9 million (US$13.2 million) the top lot of 2023 in this category and the second highest value lot sold at any house in Geneva this Fall. Looking ahead, our Jewels sales in Geneva will take place alongside our highly lauded Geneva Watch Auctions each season, along with sales in Hong Kong, New York and online.
Groundbreaking New Digital Platform
A testament to Phillips’ incomparable spirit of innovation, Phillips created Dropshop — an award-winning new platform that has captured the zeitgeist by connecting our audience with limited edition, exclusive ‘drops’ of works by creators who are actively shaping today’s culture. Something we are particularly proud of is the fact that artists and makers will receive a resale royalty commission for any work purchased from Dropshop that is subsequently re-offered at Phillips — an industry first.
- Exciting launches in 2023, such as a charitable drop from Kehinde Wiley, benefiting Black Rock Sénégal, Emily Mae Smith’s first sculpture, Jean-Michel Basquiat’s Hip Hop vinyl Beat Bop, which sold out in just 60 seconds, and Cj Hendry’s Crown series, which included an in-person treasure hunt attended by over 1,000 people
- 60% of all Dropshop buyers were new to Phillips
- Buying activity was seen in 20 countries across 4 continents
PhillipsX Expanded Global Program of Selling Exhibitions
PhillipsX is a dynamic selling exhibition platform operated by the global Private Sales team at Phillips, the destination for international collectors to buy and sell the world’s most important Modern and Contemporary art, design and luxury items.
- Through PhillipsX, our influence extends beyond the realm of auction and into the broader global cultural landscape by offering a boundary-less discovery, selling, and buying experience based on the traditional retail gallery model
- In addition to filling our Phillips flagship buildings in New York, London, and Paris, we expanded our footprint globally, mounting exhibitions for the first time in our LA and Hong Kong spaces and hosting pop-ups in Singapore, and Antwerp
- This year, we worked directly with Damien Hirst for a solo show in London and Brett Crawford for solo shows in both Singapore and Hong Kong. We also showcased new works by Kaifan Wang, Susan Chen, Ho Jae Kim, Se Oh, and Hilde Lynn Helphenstein among others in our second pop-up exhibition in Seoul alongside Frieze
- This second pop-up in Seoul, Briefly Gorgeous, was extremely successful with approximately 4,500 visitors over seven public viewing days. Held this year at the SongWon Art Center
- PhillipsX mounted historically significant and culturally timely exhibitions on Pierre Soulages in London, Ed Ruscha in New York, and ReTrace — Kusama to Shiota in Hong Kong
Digital Growth / Extending Phillips’ Reach
The numbers speak volumes:
- 265% increase in total video views from 2022 to 2023
- Over 20% increase in Total Cross Channel Social Audience from 2022 to 2023
- 116% increase in social followers on Asia channels
The Phillips Apprenticeship
Phillips is thrilled to partner with the nationally-recognized arts organization Art Start on an apprenticeship program for the auction industry, promoting inclusivity in the art market by fostering a more open and diverse career landscape. Apprenticeships last 12 months and lead to full-time job offers upon successful completion. This program launched in New York with the hiring of three apprentices, who have now completed their first season at Phillips. This is another step on Phillips’ journey to serve as an agent and model for change for other organizations to emulate in making true change in the fine arts industry.
TOP ACHIEVEMENTS IN EVERY CATEGORY
20th Century & Contemporary Art
At Phillips in 2023, 20th Century & Contemporary Art triumphed:
- Gerhard Richter’s Abstraktes Bild (636) sold for US$35 million, the highest value lot of 2023 at Phillips
- Phillips continues to define the contemporary art market, setting new records for Jadé Fadojutimi, Caroline Kent, and Lois Dodd, among others
- Underscoring Phillips' command of this market, Ultra-Contemporary lots in our November Evening Sale sold for nearly 3 times their low estimate
- Global 20th Century & Contemporary Art Evening Sales were 95% sold by lot, the market leader in this sale category
- Over the past two years, Modern works in Phillips Evening Sales have sold 94% by lot.
Jewels
Phillips jewelry auctions in 2023 totaled US$39.6 million, a 40% increase compared to 2022:
- New selling location: Geneva Jewels live and online auctions in November brought US$22.5 million (CHF 20.3 million), bringing Phillips’ Jewels to new heights
- The top lot of the year was a superb Fancy Intense Pink diamond weighing 20.19 carats that sold for US$13.2 million (CHF 11.9 million) — the highest value lot ever sold by Phillips Jewels and also the second highest value lot sold in Geneva during the Autumn season across all auction houses
- Global sell-through rate of nearly 90% by lot
Editions
Editions this year achieved US$37 million in sales, the second highest total in company history:
- Building on the expanded sale calendar of 2022, the Editions team added 3 additional online sales globally, two focusing on single artist auctions for David Shrigley and Pablo Picasso in response to demand.
- The New York Editions department was proud to offer 73 lots from the Collection of Rosa and Aaron Esman across their 2023 sales, resulting in a 98% sell through rate and 14 new auction records
- Global sell-through rate of 90.5% for over 2,000 lots offered, including two ‘white glove’ sales of David Hockney and Provincetown Printers
Photographs
Photographs in 2023 saw successes across the board:
- We achieved strong prices for iconic images that have entered the cultural zeitgeist, including Ansel Adams’ Moonrise, Hernandez, New Mexico (US$381,000) and Robert Mapplethorpe’s Man in Polyester Suit (US$355,600)
- Exceptional results for iconic fashion photographs such as Irving Penn’s Harlequin Dress (US$355,600), Richard Avedon’s Dovima with Elephants (£139,700), and Peter Lindbergh’s Kate Moss, Harper's Bazaar USA (£139,700)
- Showcasing the impact of private collectors in transforming the cultural landscape, High Voltage: Contemporary Photographs from the Collection of Fred and Laura Bidwell set a new world auction record for Dawoud Bey
Watches
Phillips in Association with Bacs & Russo continues its robust global leadership:
- Geneva auctions held strong results for top lots, including: a Rolex Daytona Ref. 6270 which sold for CHF 3.6 million; a Patek Philippe Ref. 2499 Pink Gold Second Series, which achieved CHF 3.2 million; and a Patek Philippe Ref. 2499 First Series Yellow Gold, which achieved CHF 2.3 million.
- Support for Independent Watchmaking continues with exceptional results for the unique Biver Carillon Tourbillon in titanium, the Roger Smith Series One, and Philippe Dufour’s first ever Grande and Petite Sonnerie made for Audemars Piguet. Our Spring Auction set world record prices for Asian independent watchmakers Hajime Asaoka and Kiu Tai Yu
- A historically important Patek Philippe Reference 96QL with triple date and moon phases, previously owned by the Last Emperor of the Qing Dynasty sold for HK$49 million / US$6.2 million
- 2023 marked the end of our 100% sold auction record, which ended after three years with a single unsold lot in 2023. You can’t always be perfect
- Watches continued its 100% Sold record of Online auctions, in New York, Hong Kong, and Geneva
- Roger Smith’s unique and career defining Pocket Watch Number Two achieved US$4.9 million, breaking the world record for any British timepiece
- In December, Phillips achieved a record price for Casio’s one-of-a-kind solid yellow gold Casio G-Shock, designed by artificial intelligence (AI) and raising over US$400,000 to benefit The Nature Conservancy
Design
Our Design sales in London, New York, and Hong Kong continued to celebrate and promote design in its many varied forms.
- Design this year achieved US$29.4 million in sales, an increase of 45% from 2022
- New World Auction Records were achieved for Max Ingrand, Mario Asnago and Claudio Vender, Seguso, Studio Drift, John Ward and Lucie Rie, at time of sale
- The most important group of works by Lucie Rie and Hans Coper to ever come to auction: “Lucie Rie and Hans Coper, Exceptional Ceramics” realized £8.2 million, with 99% sold by lot and 100% sold by value, exceeding the pre-sale high estimate by 174%
- Strong demand from across the globe was seen for a number of works of early 20th Century French design, such as Jean Dunand’s Pair of monumental vases which fetched US$685,800 and Albert Cheuret’s Pair of 'Cigogne' illuminated mirrors which sold for £203,200, twenty times the pre-sale estimate
- Incredible examples of Italian design were offered, and many outstanding results achieved, including the white glove “Casa Fornaroli” sale
PHILANTHROPY
Charities, institutions, and foundations that benefited from sales at Phillips this year include:
- Black Rock Sénégal
- Horological Society of New York
- The Nature Conservancy
- A Place Called Home
- Ruwenzori Foundation
- The Sonja Ferlov Mancoba Museum
- The Triton Collection Foundation
- Vital Voices
- Whitechapel Art Gallery
- The Sovereign Art Foundation
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