In 2022, the three auction houses sold $13.6 billion at auction and $2.56 billion in private sales for a total of $16.16 billion.
Christie's and Phillips held sales of 20th 21st Century art in Hong Kong totaling $193 million and pointing to the market's direction.
Phillips Auction sells $139 million in Contemporary and Modern art in stable market.
Phillips will offer an untitled Cy Twombly work from the 2005 series of paintings titled Bacchus Psilax Mainomenos for $35 million during its November sale.
The Frieze Evening sales for Sotheby's and Phillips showed unexpected strength in the art market as £115 million was spent.
During the Frieze art fair in London, Christie's 20th/21st Century Evening sale totals $80 million and Phillips's Day sale made $12.4 million
Phillips will partner with Yongle Auction to cooperate in Hong Kong and Beijing sales in Fall 2022.
While “generative art” has come to be associated with the world of web3, the term dates back to a 1965 exhibition of work by Georg Nees, an academic, and Frieder Nake, a mathematician. Phillips’ online sale Ex-Machina: A History of Generative Art, spans beyond the existence of the phrase. The sale runs through July 20th, 2022.
Phillips released its mid-year sales figures today along with the announcement that it would be opening a Los Angeles location in West Hollywood. For the first half of 2022, Phillips had total sales of $746 million. According to the firm, that’s a 37% increase over the previous record year. Auction sales rose to $590
Young artists with persistent markets helped the house close the season with a £17.5 million sale. Phillips London Evening Sale totaled £17.5 million ($21.28 million) with 31 of the 33 lots offered finding buyers. That’s a 94% sell-through rate, helped along by the withdrawal of two lots—a Baselitz and a Grotjahn—before the sale.