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Phillips Donates 100% of Buyer’s Premium and Vendor’s Commission to the Ukrainian Red Cross Society, Totaling £5.8 Million

Phillips Donates 100% of Buyer’s Premium and Vendor’s Commission to the Ukrainian Red Cross Society, Totaling £5.8 Million March 17, 2022Art Events, Charity, London0 Comments

Phillips’ 20th Century & Contemporary Art Evening Sale Achieves £30 Million

Phillips Donates 100% of the Buyer’s Premium and Vendor’s
Commission to the Ukrainian Red Cross Society, Totaling £5.8 Million

London, 3 March 2022

Sale Total: £29,939,350/ $40,088,790 / €36,166,735

Stephen Brooks, Chief Executive Officer, said, “The Ukrainian Red Cross Society is doing incredible work to support and protect people in the region, and it is our hope that the £5.8 million of buyer’s premium and vendor’s
commission from our Evening Sale will help this extraordinary charity as they continue their lifesaving mission.”

Olivia Thornton, Head of 20th Century & Contemporary Art, Europe, said, “The sale total of £30 million falls solidly within the pre-sale estimate, selling 95% by lot and 91% by value. The flavour of tonight’s sale was truly international, with bidders participating from 40 countries, including significant engagement from across Asia. Iconic, blue-chip artists shared the stage with a carefully edited selection of cutting-edge contemporary names. The sale opened with fierce bidding for the auction debuts of Lauren Quin and Doron Langberg, and we went on to achieve a new world record for Issy Wood. British art triumphed, with seminal works by David Hockney, Cecily Brown and Hurvin Anderson. It was exciting to open the week with the unveiling in London of our forthcoming Basquiat masterpiece from the collection of Yusaku Maezawa, expected to realise in the region of $70 million when it is offered in New York in the spring.”

Tags: Cecily Brown, Charity, David Hockney, Help Ukraine, Hurvin Anderson, Olivia Thornton, Phillips’ 20th Century & Contemporary Art Evening Sale, Ukraine Charity, Ukrainian Red Cross Society, What We Adore Magazine