Phillips Reports Sales of Over Half a Billion, Helped by Gerhard Richter
London, 05 August 2021

It's been a great year for Phillips as they report sales of over half a billion US dollars in the first half of 2021, an increase of 25 percent on 2019, undoubtedly helped by the sale of Gerhard Richter's Abstraktes Bild (940-7) going for USD $12,258,390 (HKD $95,100,000) at their Contemporary Hong Kong sale in June. ⁠

With 17 artists setting new world records, it was interesting to see how many of those set were by emerging stars signalling the extraordinary rise in their market demand. ⁠

With a high estimate of $96,200, Beijing-born Huang Yuxing's work Bubbles sold at close to $750,000, while Emily Mae Smith's Broom Life went for just over $1.5M, over 20 time its high estimate, and finally the late Matthew Wong's Figure in a Night Landscape surpassing its estimate of $1,030,000 going for $4.7M.⁠


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