What Phillips does

Phillips is an internationally operating private auction house headquartered across New York (432 Park Avenue), London (30 Berkeley Square), and Hong Kong, with additional offices in Geneva, Paris, and Seoul, employing 490 people worldwide. The company conducts live and online-only auctions across Modern & Contemporary Art, Design, Jewels, Watches (operated as "Phillips in Association with Bacs & Russo"), Photographs, and Editions, supported by a digital saleroom, an iOS mobile bidding application, and exhibition viewings in major collector markets.

The business model is transaction-based: revenue is generated primarily through a tiered Buyer's Premium ranging from 14.5% to 27% of hammer price depending on price tier and sale location, plus a Seller's Commission charged to consignors alongside pass-through sale-related expenses (insurance, transport, restoration, catalogue photography). Sells proceeds are typically paid to consignors approximately 35 calendar days after auction. Phillips extends its core auction model with adjacent revenue streams including Private Sales (brokered transactions), Financial Services (advances and minimum price guarantees), and Appraisal Services (estate tax, insurance, donation, and financial planning valuations).

Phillips serves three primary customer segments: private collectors, museums and institutions, and professional advisors/fiduciaries. The company is differentiated as a more focused alternative to larger legacy auction houses, with a stated world-leading position in luxury collectible watches through the Bacs & Russo partnership and a focus on 20th century and contemporary art. Digital initiatives include Phillips Perpetual (fixed-price e-commerce for watches with physical storefronts in London, Hong Kong, and Gstaad), Dropshop (limited-edition art drops), and the Priority Bidding Buyer's Premium structure (Fall 2025) which rewards early commitment with up to 4% premium savings. The CEO is Martin Wilson, and the watch department is led by Aurel Bacs and Livia Russo.

Name

Phillips

Legal name

Phillips Auctioneers Limited

Website

https://phillips.com

Company type

Private

Founded year

1796

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Phillips is a privately held international auction house specializing in 20th century and contemporary art, watches, jewelry, design, and photographs, serving high-net-worth collectors, major museums, and fiduciary clients through live and online auctions globally.

Ownership category

akta.pro rank

Product category

Art Auction Services

NAICS

Art Dealers (459920)

akta.pro primary industry

Auction Houses (Luxury Watches & Jewelry) (CRAKAKAF)

akta.pro secondary industry

Online Collectibles Marketplaces & Auction Retail (CRALAGAO)

Keywords

• Art auction services
• Luxury watch auctions
• Private sales brokerage
• Art valuation services
• Contemporary art sales

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Buyer's Premium: Commission charged to buyers calculated as percentage of hammer price on a cumulative basis, ranging from 14.5% to 27% depending on price tier and location
2. Seller's Commission: Vendor's commission charged to sellers along with sale-related expenses including insurance, transport, restoration costs, and catalogue photography
3. Private Sales: Brokerage fees for discreet private sales matching buyers to sellers outside of auction format
4. Financial Services: Advances against future sale proceeds and minimum price guarantees offered to consignors
5. Appraisal Services: Valuation services for estate tax, insurance, charitable donation, and financial planning purposes

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Phillips is an international auction house conducting live and online-only auctions across Modern & Contemporary Art, Design, Jewels, Watches, Photographs, and Editions, complemented by private sales brokerage, fixed-price watch sales through Phillips Perpetual, exclusive art drops via Dropshop, and specialized appraisal and fiduciary services for collectors, estates, and institutions.

Product overview

Phillips is an international auction house conducting live and online-only auctions across multiple categories including Modern & Contemporary Art, Design, Jewels, Watches (operated as Phillips in Association with Bacs & Russo), Photographs, and Editions. The company operates alongside digital platforms including the Phillips iOS App, Phillips Perpetual (boutique watch sales), and Dropshop (exclusive art drops), complemented by Private Sales and specialized Professional & Advisor Services including Fiduciary Services and Trusts & Estates. Clients can bid in auctions in-person, online via desktop/mobile browser, through the iOS app, or via absentee/telephone bidding.

Differentiator

Problem solved

Functional benefit

Brands

• Phillips Perpetual: A first-of-its-kind private sales program offering a curated selection of watches at fixed prices through physical and digital storefronts.
• Dropshop
• Phillips in Association with Bacs & Russo

Products and services

• Phillips Auction Platform International auction platform conducting live and online-only auctions across Modern & Contemporary Art, Design, Jewels, Watches, Photographs, and Editions in New York, London, Geneva, and Hong Kong.
• Phillips iOS App Mobile application enabling clients to browse and bid in all Phillips auctions from iOS devices, with real-time live bidding capabilities.
• Phillips Perpetual First-of-its-kind private sales program offering a curated selection of watches at fixed prices through physical storefronts in London, Hong Kong, and Gstaad, and a digital platform.
• Dropshop Exclusive limited-edition drops by creators for collectors, featuring contemporary art and design pieces available for immediate purchase.
• Private Sales Personalized brokering of private art sales matching buyers to sellers for discreet, selective transactions, including works at world-record prices.
• Fiduciary Services Professional services led by practicing lawyers offering expertise in financial arrangements involving art (advances, loans, guarantees), acquisitions and disposals, problem solving (authenticity and restitution claims), and valuation advice.
• Professional & Advisor Services Comprehensive services including appraisals for estate tax, insurance, and loan collateral; auction estimates; financial planning; and removal and storage for collectors, estates, attorneys, and institutions.
• Trusts & Estates Valuations Department working with private clients, lawyers, bankers, family offices, and insurance brokers to assist in sale and disposition of tangible personal property with appraisals for estate and gift tax, donation, financial planning, and insurance purposes.
• Museum Services Services for museums and non-profit institutions including deaccessions, acquisitions, appraisals, and sponsorships, with partnerships including MoMA, LACMA, Guggenheim, and others.
• Phillips in Association with Bacs & Russo World-leading watch auction brand under leadership of Aurel Bacs and Livia Russo, conducting auctions in Geneva, Hong Kong, and New York with in-house watchmakers, researchers, and quality-control experts.

Quantifiable outcome

• 60% auction growth and 90% global sell-through rate in First Half 2026
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Bacs & RussocoreStrategic or Co-development PartnerPhillips in Association with Bacs & Russo conducts world-leading sales of luxury collector's watches. Led by Aurel Bacs and Livia Russo, this partnership has established Phillips as the worldwide market leader in high-end watch auctions, achieving landmark results including highest-grossing watch auction in history.
• The Israel MuseumminorOthersPhillips has worked with The Israel Museum on deaccessions, acquisitions, appraisals, and sponsorships.
• Art Institute of ChicagominorOthersPhillips has worked with Art Institute of Chicago on deaccessions, acquisitions, appraisals, and sponsorships.
• LACMAminorOthersPhillips has worked with LACMA on deaccessions, acquisitions, appraisals, and sponsorships.
• MoMAminorOthersPhillips has worked with MoMA on deaccessions, acquisitions, appraisals, and sponsorships.
• Guggenheim MuseumminorOthersPhillips has worked with Guggenheim Museum on deaccessions, acquisitions, appraisals, and sponsorships.
• Walker Art CenterminorOthersPhillips has worked with Walker Art Center on deaccessions, acquisitions, appraisals, and sponsorships.
• Museum of Fine Arts HoustonminorOthersPhillips has worked with Museum of Fine Arts Houston on deaccessions, acquisitions, appraisals, and sponsorships.
• Crystal Bridges Museum of American ArtminorOthersPhillips has worked with Crystal Bridges Museum of American Art on deaccessions, acquisitions, appraisals, and sponsorships.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Artsy: Artsy is an online art marketplace connecting collectors with galleries, auction houses, and artists. While not a direct auction competitor, Artsy serves as an alternative discovery and bidding channel that competes for online collector attention and secondary market activity alongside Phillips' digital saleroom.
• 1stDibs: 1stDibs is an online luxury marketplace for fine art, furniture, jewelry, and watches, offering fixed-price and auction inventory. Adjacent competitor to Phillips in the online luxury collectibles space, particularly relevant to Perpetual and Dropshop fixed-price offerings.
• Artnet: Artnet operates an online art marketplace and auction aggregator, providing price databases and secondary market transaction infrastructure. Competes with Phillips for online art collector engagement and serves as an alternative price discovery channel to Phillips' auction platform.

Direct peers

• Bonhams: Bonhams is a UK-headquartered international auction house competing with Phillips in fine art, watches, jewelry, and luxury collectibles. Operates global salerooms with similar specialist department model and competes for the same consignor pool in secondary and emerging market categories.
• Antiquorum: Antiquorum is a Geneva-based auction house specializing in rare and collector watches, directly competing with Phillips in Association with Bacs & Russo for high-end watch consignments. Comparable in specialist watch expertise and auction format.
• Skinner Auctioneers: Skinner is a US-based auction house operating in fine art, jewelry, and watches with live and online bidding. Competes with Phillips for mid-market US collectors and shares the auction-based business model with comparable buyer premium structures.
• Heritage Auctions: Heritage Auctions is the largest US-based auction house, operating across fine art, watches, jewelry, and luxury collectibles with strong online bidding infrastructure. Directly competes with Phillips for US-based consignors and bidders, particularly in watches and contemporary art.
• Sotheby's: Sotheby's is a global auction house operating live and online auctions across fine art, watches, jewelry, and luxury collectibles in the same major cities as Phillips. Directly competes for consignors and bidders in Modern & Contemporary Art and luxury watches, with comparable take-rate economics and institutional client base.
• Christie's: Christie's is the largest international auction house and competes head-to-head with Phillips in Modern & Contemporary Art, luxury watches, jewels, and design. Operates salerooms in New York, London, Geneva, and Hong Kong with similar take-rate structures and private sale capabilities.
• Wright Auction House: Wright is a Chicago-based auction house specializing in design and contemporary art, directly competing with Phillips' Design and 20th century departments. Operates live and online auctions with similar specialist category focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/phillips

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phillips