Phillips

Phillips is an auction house for 20th- and 21st-century works, founded in London in 1796. Its departments cover modern and contemporary art, design, photographs, editions, jewels and watches, alongside private sales. It runs both live and online auctions and also offers some items for immediate purchase. Auctions and exhibitions are held mainly in New York, London, Geneva and Hong Kong.

How buying works

• Registering: bidders need government-issued ID and may be asked for a bank reference. New York advises new clients to register at least 48 hours before an in-person sale; online bidders register up to 24 hours before.
• Ways to bid: in person with a paddle, by telephone (for lots with a low estimate of at least $1,000), online through the app or browser, or with a written absentee bid stating a maximum.
• Buyer's premium (New York): 27% of the hammer price up to $1,000,000, 21% from there to $6,000,000 and 14.5% above that.
• Payment and collection: payment is due right after the sale. New York lots move to a warehouse in Long Island City and are released once payment has cleared; Phillips can arrange packing and shipping.

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Facts only, from the sources listed above. Always check each listing’s terms before you bid.