Phillips Auction House Closes 2018 with $916 Million in Sales


Auction house Phillips increased sales 29 percent last year to $916 Million for its largest total in its over 200-year history. CEO Edward Dolman said in a statement, “our strategy of focusing exclusively on the 20th and 21st centuries, our continued expansion in Asia, and our move to increase our modern art offerings have all played a role.”

Picasso’s La Dormeuse sold last year for $58 million. The work was inherited by Picasso’s widow Jacqueline Roque, who eventually passed the work on to her daughter, Catherine Hutin-Blay. The piece last sold in 1995 at the Pace-Wildenstein Gallery in New York to an individual collector until last March.

Two of the top pieces for the auction house last year were the Pablo Picasso painting from 1932, “La Dormeuse,” which sold for $58 million in March. The second-largest item sold was the Rolex Daytona ‘Unicorn,’ which went for $5.9 million in May. This was the second most expensive Rolex ever sold behind Paul Newman’s Daytona. Phillips is confident they’ll have another great year in 2019 as they are seeing evidence of strong material coming in for the spring auction season.

Phillips Auction House Closes 2018 with $916 Million in Sales
The white gold Rolex Cosmograph Daytona sold in May of last year formerly belonging to Montanari. Called ‘The Unicorn’ as the only one of it’s kind in the world. Made in 1970 for a private customer before finding it’s way to Montanari.