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Phillips Achieves $746 Million in Spring 2022,
A Record-Breaking Season Amid Global Expansion
Global Sales: $746 Million
- Up 37% compared to H1 2021
Auction Sales: $590 Million
- Up 30% compared to H1 2021
- 44% of buyers across online-only and live auctions were first-time buyers at Phillips
- Jean-Michel Basquiat’s Untitled from the collection of Yusaku Maezawa became the most valuable lot ever sold by Phillips, selling to an Asian client for $85 million in the New York Evening Sale of 20th Century & Contemporary Art, which marked the highest sale total in company history
- Women artists played a major role in Phillips' international auctions this season, with new records being set for Yayoi Kusama, Lucy Bull, Antonia Showering, and Robin F. Williams, among others
- Phillips’ Watch department continued its 18-month streak of selling 100% of lots offered at auction across Geneva, Hong Kong, and New York. Watch auction sales total $127.2 million for the Spring season, reaffirming Phillips’ place as the global market leader.
Private Sales: $156 Million
- Up 72% compared to H1 2021
- Phillips produced several selling exhibitions globally, including 1970S / GRAFFITI / TODAY, Birds of a Feather: Phillips x ARTEMARTIS, At the Crossroads: A Collection of Works by Lee Jaffe, and HIRÆTH
Continued Success in Asia
- 41% of auction hammer was sold to clients based in Asia
- 35% of the buyers based in Asia were millennial collectors
DEIA Initiatives and Partnerships
- Phillips has invested significantly in its DEIA mission, becoming a key focus for the company internationally
- One of the core initiatives of the DEIA strategy implemented so far in 2022 has been partnerships, such as the collaborations and sponsorships with ArtStart, Howard University, and Bold Tendencies
Stephen Brooks, Chief Executive Officer, said, “This has been a season of extraordinary growth at Phillips. From hosting our most successful auction in company history to the announcements of our expansion in Hong Kong and Los Angeles, the momentum from our record-breaking 2021 has held fast this spring. An enthusiastic market led to the highest value lot in Phillips’ history – a monumental Basquiat from the collection of Yusaku Maezawa – drawing attention from around the globe, as our Watch team continued their unprecedented 18-month streak of selling every watch to appear at auction. We look forward to a summer full of exciting programming before welcoming our community back into the auction room this fall.”
Top Five Lots Sold at Phillips in H1 2022
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Top Lots
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Jean-Michel Basquiat
Untitled
1982
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Estimate on Request
SOLD FOR:
$85,000,000
£68,554,285
€80,958,250
18 May, New York
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Yves Klein
Relief Éponge bleu sans titre (RE 49)
1961
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Estimate: $14,000,000 - 18,000,000
SOLD FOR:
$19,999,500
£16,130,017
€ 19,048,524
18 May, New York
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Alexander Calder
39=50
1959
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Estimate: $10,500,000 - 14,500,000
SOLD FOR:
$15,648,500
£12,620,844
€ 14,904,414
18 May, New York
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Image unavailable
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Yayoi Kusama
Untitled (Nets)
1959
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Estimate: $5,000,000 - 7,000,000
SOLD FOR:
$10,496,000
£8,465,244
€ 9,996,915
18 May, New York
*World auction record for the artist
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Pablo Picasso
Figures et plante
1932
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Estimate: $4,000,000 - 6,000,000
SOLD FOR:
$10,267,000
£8,280,551
€ 9,778,804
18 May, New York
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Top Lot Sold by Category at Phillips in H1 2022
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20th Century & Contemporary Art
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Jean-Michel Basquiat
Untitled
1982
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Estimate on Request
SOLD FOR:
$85,000,000
£68,554,285
€ 80,958,250
18 May, New York
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Editions
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Andy Warhol
Flowers (F. & S. 64-73)
1970
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Estimate: $1,000,000 - 1,500,000
SOLD FOR:
$1,482,000
£1,135,494
€1,365,085
19-21 April, New York
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Photographs
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Gustave Le Gray
Souvenirs du Camp de Châlons au Général Regnaud de Saint-Jean d'Angély
1857
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Estimate: £100,000 - 150,000
SOLD FOR:
£327,600
$409,697
€384,111
25 May, London
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Design
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Joris Laarman
"Bone" chair
2006
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Estimate: $500,000 - 700,000
SOLD FOR:
$630,000
£500,320
€588,983
7 June, New York
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Watches
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Patek Philippe
Ref. 1518
An outstanding, very important and superbly attractive pink gold chronograph wristwatch with perpetual calendar, moonphases and pink dial
1947
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Estimate: CHF1,200,000 - 2,400,000
SOLD FOR:
CHF3,297,000
$3,333,926
€3,193,144
7-8 May, Geneva
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Jewels
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An Outstanding Fancy Yellow Diamond, Diamond, Gold and Platinum Ring
Circa 1945
Old European brilliant-cut, 43.15 cts.
Round brilliant-cut, single-cut, baguette-cut diamonds, total approximately 2.15 cts.
Gold-topped platinum, size 7.25
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Estimate: $550,000 - 850,000
SOLD FOR:
$816,500
£650,145
€760,646
2 June, New York
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