Phillips, formerly known as Phillips the Auctioneers and briefly as Phillips de Pury, is a British auction house. It was founded in London in 1796, and has head offices in London and in New York City.[1] In 2022 it was owned by the Mercury Group, a Russian luxury goods company.[2]
Phillips was founded in 1796 by Harry Phillips, who had been a clerk to James Christie. The business held twelve auctions in its first year and soon became successful. Napoleon and Beau Brummel were among the early patrons. Harry Phillips died in 1840, and the business passed to his son William Augustus, who renamed it Phillips & Son; when his son-in-law Frederick Neale joined in 1882, the company became Phillips, Son & Neale. It was renamed Phillips in the 1970s;[1] it was usually referred to as Phillips, the Auctioneers. In 1998, the company bought Selkirk, then a 168-year-old St. Louis auction house.[3]
In 1999 a majority stake in the company was sold to venture capitalists 3i, who resold it shortly after for a considerable profit.[citation needed] The company was bought in 1999 by Bernard Arnault of LVMH Moët Hennessy – Louis Vuitton.[1][4] After a series of disastrous sales and extremely heavy losses, the UK operations were sold to Bonhams in 2001 and merged into that company.[5] Most of the rump of the business was closed; some smaller departments were acquired by Simon de Pury and Daniella Luxembourg, who traded under the name Phillips de Pury & Company.[6] In 2002 Simon de Pury acquired majority control of the firm.[1]
On 6 October 2008, the company was purchased by the Russian Mercury Group,[1] which paid approximately $60 million for it.[citation needed] De Pury sold his remaining shares to Mercury in late 2012, and left the company.[7] The name was changed back to Phillips.[6][7]
In December 2018 the company signed a contract for retail space at 432 Park Avenue including the Park Avenue Cube beside the tower, with approximately 5000 m2 (55000 sq ft) at the base of the tower and a further 3000 m2 (30000 sq ft) underground.[8][9][10]
Referencesedit
Wikimedia Commons has media related to Phillips (auctioneers).
^Ben Quinn (9 March 2022). Russia oligarchs still able to exploit UK art market loopholes, experts say. The Guardian. Accessed April 2023.
^Carol Vogel (3 April 1998), Joining the Team New York Times.
^Eileen Kinsella (14 October 2008). Russian Luxury Retailer Acquires Phillips de Pury & Company. ARTNews. Accessed January 2014.
^Julia Finch (14 July 2001). Bonhams and Phillips confirm merger. The Guardian. Accessed April 2023.
^ abBrian Boucher (21 December 2012). . Art in America. Archived 21 January 2015.
^ abSarah Douglas (1 January 2013). . The New York Observer. Archived 2 January 2015.
^Robin Pogrebin (16 December 2018). . The New York Times. Archived 4 June 2019.
^Steve Cuozzo (18 December 2018). . New York Post. Archived 17 December 2019.
^Nicholas Rizzi (17 December 2018). . Commercial Observer. Archived 17 December 2019.
April 18, 2024
phillips, auctioneers, phillips, formerly, known, phillips, auctioneers, briefly, phillips, pury, british, auction, house, founded, london, 1796, head, offices, london, york, city, 2022, owned, mercury, group, russian, luxury, goods, company, phillipscompany, . Phillips formerly known as Phillips the Auctioneers and briefly as Phillips de Pury is a British auction house It was founded in London in 1796 and has head offices in London and in New York City 1 In 2022 it was owned by the Mercury Group a Russian luxury goods company 2 PhillipsCompany typeprivate companyIndustryauctioneeringFounded1796 228 years ago 1796 FounderHarry PhillipsHeadquartersLondon United KingdomParentMercury GroupWebsitephillips wbr comHistory editPhillips was founded in 1796 by Harry Phillips who had been a clerk to James Christie The business held twelve auctions in its first year and soon became successful Napoleon and Beau Brummel were among the early patrons Harry Phillips died in 1840 and the business passed to his son William Augustus who renamed it Phillips amp Son when his son in law Frederick Neale joined in 1882 the company became Phillips Son amp Neale It was renamed Phillips in the 1970s 1 it was usually referred to as Phillips the Auctioneers In 1998 the company bought Selkirk then a 168 year old St Louis auction house 3 In 1999 a majority stake in the company was sold to venture capitalists 3i who resold it shortly after for a considerable profit citation needed The company was bought in 1999 by Bernard Arnault of LVMH Moet Hennessy Louis Vuitton 1 4 After a series of disastrous sales and extremely heavy losses the UK operations were sold to Bonhams in 2001 and merged into that company 5 Most of the rump of the business was closed some smaller departments were acquired by Simon de Pury and Daniella Luxembourg who traded under the name Phillips de Pury amp Company 6 In 2002 Simon de Pury acquired majority control of the firm 1 On 6 October 2008 the company was purchased by the Russian Mercury Group 1 which paid approximately 60 million for it citation needed De Pury sold his remaining shares to Mercury in late 2012 and left the company 7 The name was changed back to Phillips 6 7 In December 2018 the company signed a contract for retail space at 432 Park Avenue including the Park Avenue Cube beside the tower with approximately 5000 m2 55000 sq ft at the base of the tower and a further 3000 m2 30000 sq ft underground 8 9 10 References edit nbsp Wikimedia Commons has media related to Phillips auctioneers a b c d e About us Phillips Accessed June 2018 Ben Quinn 9 March 2022 Russia oligarchs still able to exploit UK art market loopholes experts say The Guardian Accessed April 2023 Carol Vogel 3 April 1998 Joining the Team New York Times Eileen Kinsella 14 October 2008 Russian Luxury Retailer Acquires Phillips de Pury amp Company ARTNews Accessed January 2014 Julia Finch 14 July 2001 Bonhams and Phillips confirm merger The Guardian Accessed April 2023 a b Brian Boucher 21 December 2012 Simon de Pury Resigns from Phillips de Pury Art in America Archived 21 January 2015 a b Sarah Douglas 1 January 2013 Phillips Sans Simon What s Next for Simon de Pury and Phillips Now That They ve Parted Ways The New York Observer Archived 2 January 2015 Robin Pogrebin 16 December 2018 Phillips Auction House Is Moving to a New Space The New York Times Archived 4 June 2019 Steve Cuozzo 18 December 2018 Park Ave lease gives Harry Macklowe something to smile about New York Post Archived 17 December 2019 Nicholas Rizzi 17 December 2018 Phillips Auction House Moving Next Door to 55K SF at 432 Park Avenue Commercial Observer Archived 17 December 2019 Retrieved from https en wikipedia org w index php title Phillips auctioneers amp oldid 1171410901, wikipedia, wiki, book, books, library,
