Henry Highley Auctioneering in New York.
With 2025 taking shape in our rear-view mirror, now is the time to look back on what Phillips achieved this past year.
As Phillips’ CEO, Martin Wilson, puts it: “Our commitment to innovation, expertise, and client focus has never been stronger. As we look ahead to 2026 — Phillips’ 230th year — and with a rising generation of digitally driven collectors and continued momentum across all categories, I believe the next chapter holds tremendous opportunity. Confidence has returned, and Phillips is poised to lead the future of collecting.”
Global sales up 10%
Spirited bidding across our packed global salerooms led to a 10% increase in sales in 2025. The energy in the rooms and emanating from online bidders was electric, positioning Phillips as one of the most innovative and focused international auction houses.
Private Sales up 66%
Collectors continue to return to Phillips’ private sales team for their discreet, personalized approach to collecting. What’s more, Phillips presented more than 17 public selling exhibitions in 2025 across eight countries. Significant exhibitions included London’s Crossing Borders: Modern Art from South Asia, Tokyo and Hong Kong’s Thierry Noir: Rush Hour, and Hong Kong’s Picasso and the Animal Kingdom.
Priority Bidding — 4X early selling bids
Since the September launch of Priority Bidding, a first-of-its-kind structure that offers lower Buyer’s Premium rates for early bids, total early selling bids have nearly quadrupled, increasing by 275%. This new framework not only showcases Phillips’ imagination but also delivers exceptional results to sellers and offers value to buyers simultaneously.
The Phillips way
With seven white-glove sales, more than 110 world auction records, an 88% sell-through rate by lot, nearly 70% of lots sold online, and one in three buyers being new to Phillips, it’s clear that Phillips’ focus on innovation and expertise is leading the way forward.
Dropshop
Fall 2025 marked the two-year anniversary of Dropshop — Phillips’ groundbreaking e-commerce platform offering limited-edition Drops of artworks to a global audience. To wrap up the year, we returned to collaborate with Cj Hendry, the first artist featured on the platform. Phillips debuted the artist’s first toy series, juju, through a four-day activation at Phillips Hong Kong and online. The initiative generated strong buzz and sold out within a week, with offerings including collectible juju blind-box charms, editioned sculptures, and a unique painting.
2025 saw 14 Drops in total, including Susumu Kamijo, René Magritte, Leopoldo Goût, Tom of Finland, Le Corbusier, and Emmanuel Taku. Over 60% of Dropshop buyers were new to Phillips, and nearly 40% were Millennials and Gen Z.
Modern & Contemporary Art
Top Lot: Francis Bacon, Study for Head of Isabel Rawsthorne and George Dyer, 1967. SOLD FOR: $16,015,000.
A response to client demand, Phillips also introduced objects of natural history into its November Modern & Contemporary Art Sales for the very first time. The selection, titled Out of this World, was led by Cera, a juvenile Triceratops, which more than doubled its low estimate, achieving over $5 million.
Design
Top Lot: François-Xavier Lalanne, 'Brebis', from the 'Nouveaux Moutons' series, 1995. SOLD FOR: £412,800 / $540,273.
Phillips showed strength in the Design market, setting new records for Judy Kensley McKie, Guy de Rougemont, Adolf Loos, and Kathy Butterly, among others.
Editions
Top Lot: Andy Warhol, Double Mickey Mouse, 1981. SOLD FOR: $635,000.
Phillips expanded its Editions footprint with its first dedicated sale in Hong Kong, alongside the seasonal sales in London and New York. The team also hosted its inaugural MODERNISM sale in New York, showcasing exceptional works from the turn of the 20th century and beyond.
Photographs
Top Lot: William Eggleston, Los Alamos (101 prints), 1965–1974. SOLD FOR: $1,875,000.
Phillips achieved a global increase in photograph auction sales in 2025, with an 88% increase in New York sales, in particular. The team was proud to host the 100%-sold sale, Color Vision: Masterworks by William Eggleston from Guy Stricherz & Irene Malli, and the landmark auction, Visual Language: The Art of Irving Penn, a sale hosted in partnership with The Irving Penn Foundation. Both sales set new auction records for the artists.
Watches
Top Lot: Patek Philippe, Ref. 1518, 1943. SOLD FOR: CHF 14,190,000 / $17,631,075.
Phillips in Association with Bacs & Russo achieved the highest annual auction total in history, surpassing $290 million in its 10th anniversary year. In addition to being the first auction house to surpass $200 in annual auction sales for 5 consecutive years, Phillips sold over 1,800 watches in 2025, with 36 timepieces exceeding $1 million, the most in the industry.
Jewels
Top Lot: Tiffany & Co., 'The Vanderbilt Sapphire', early 20th century. SOLD FOR: CHF 2,876,000 / $3,570,841.
This year, Phillips’ Jewels team had the privilege of offering a treasure of The Gilded Age with its sale of The Vanderbilt Family Jewels. The collection, which was offered in Geneva, was 100% sold, achieving 4 times its estimate.