Article | Phillips First Half Results 2026 A Letter From Ceo Martin Wilson
Phillips First Half Results 2026: A Letter from CEO Martin Wilson
Looking back at a spring season with 60% auction growth, 90% global sell-through rate, record prices, and prestigious private collections.
Spring 2026 has been a defining season for Phillips — and a fitting one, as we mark our 230th anniversary year.
Auction sales at Phillips grew 60% year on year, with a global sell-through rate of 90% by lot. We also maintained our record of selling 100% of works estimated above $15 million since 2019 — a measure, I believe, of the confidence collectors place in Phillips and in our ability to bring exceptional property to market at the right moment.
We were privileged to present landmark private collections this season, including the Collection of Ambassador John L. Loeb, Jr. — widely regarded as the most important Danish art collection in private hands — and the Estate of Tina Hills, which brought a dynamic, cross-category momentum to the saleroom. Both contributed meaningfully to our Modern & Contemporary Art and cross-category offerings, and both reflect the calibre of consignors who choose to work with us. In Geneva, New York and Hong Kong, three white-glove auctions set new records in Watches, reaffirming our global leadership in the category. In Jewels, private single-owner collections achieved a 98% sell-through rate, with 81% of lots selling above high estimate. We also continue our market leadership across seasonal auctions of Watches, Photography, Design, and live Editions sales.
Auctioneer Henry Highly at Phillips' 16 May Modern & Contemporary Art Sale in New York. Pictured: Andy Warhol, Sixteen Jackies, 1964. Sold for $16,225,000.
Priority Bidding has proved to be a simple but innovative idea, which has had a meaningful impact on bidding. It has driven sales by creating bidding momentum before the first lot is even called. Our salerooms continue to see some of the most dynamic bidding and we have seen pre-sale bidding activity more than three times higher than the same period last year.
Priority Bidding questions? View the full FAQ, including sample scenarios, or contact the bids team to discuss further.
The numbers that tell the fullest story, however, are about our global client base. 40% of our buyers this season were entirely new to Phillips, Millennials and Gen Z represented 1 in 3 bidders and buyers, and 70% of works were sold online. Collecting is more international, more digitally connected, and more generationally diverse — and Phillips is meeting that shift with purpose and distinction. Innovations like Priority Bidding and our newly reimagined App are reshaping how collectors engage with our sales; through Private Sales, Perpetual, and Dropshop — where 70% of Spring 2026 buyers were new to Phillips — we are extending our reach well beyond the traditional saleroom.
None of this would be possible without the confidence our clients place in us and the expertise of our teams. As we look to the second half of 2026, we do so with momentum, optimism, and an exciting upcoming calendar of opportunities still ahead.
MARTIN WILSON
Chief Executive Officer