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.”
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.