PHILLIPS’ GLOBAL SALES UP 10% IN 2025, ACHIEVING $927 MILLION

Martin Wilson, Phillips’ Chief Executive Officer, said, “As we close out the year, I am immensely proud of how Phillips has continued to innovate with purpose, delivering a 10% increase in global sales and an impressive 66% growth in Private Sales. This year has been defined by strategic ambition and meaningful progress, reshaping the way we engage with clients and the broader market. Our Priority Bidding platform, a true industry game-changer, has transformed and strengthened the marketplace, nearly quadrupling early selling bids and leading to outstanding outcomes for our sellers. We have expanded our vision of what a 21st-century auction house can be, offering collectors fresh ways to explore visual dialogues between art, design, and luxury items, while embracing a more diverse approach to collecting. This year also marked two major milestones: ten years of Phillips in Association with Bacs & Russo, now firmly established as a global leader in Watches, and ten years of hosting sales in Asia, where our presence has grown from a single annual auction to a dynamic, year-round calendar of sales and cultural programming across the region.

 

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: $927 MILLION

 

Auction Sales:  $725 Million

• Phillips achieved a global sell-through rate of 88% by lot.
• Phillips achieved an Evening Sale sell-through rate of 90% by lot and 94% by value.
• 33% of buyers were first-time buyers.
• Nearly 70% of works were sold online.
• There were 7 White Glove auctions.
• Phillips' index of hammer price to low estimate was 122%.
• Over 110 World Auction Records were achieved across all categories.
• 80% of Modern & Contemporary Art Evening Sale works were fresh-to-market, having never been previously offered at auction.
• 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%.
• A response to client demand, Phillips 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.
• 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 million 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.
• 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.
• Phillips showed strength in the Design market, setting new records for Judy Kensley McKie, Guy de Rougemont, Adolf Loos, and Kathy Butterly, among others.
• 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.
• 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 of which set new auction records for the artists.

 

Private Sales:  $202 Million

(including Perpetual, Exhibitions, and Dropshop)

• Clients across 33 countries and 5 continents transacted with Private Sales.
• Nearly 20% of private sale buyers were first-time buyers.
• 17 exhibitions took place in 2025 across 8 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.

 

Dropshop and E-Commerce

• Fall 2025 marked the two-year anniversary of Dropshop.
• 2025 saw 14 Drops in total, including those of Susumu Kamijo, René Magritte, Leopoldo Goût, Tom of Finland, Le Corbusier, and Emmanuel Taku.
• Over 60% of buyers had never before purchased through Phillips.
• Nearly 40% of buyers are Millennials and Gen Z.
• Dropshop buyers span 32 countries across 5 continents.
• Through an e-commerce partnership with artist Cj Hendry, 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.

 

Extended Reach

• Phillips’ Newsletter recipient list increased this year by 15%.
• Phillips’ organic social media audience increased this year by 15%.

 

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