Phillips

DEFINITION of 'Phillips'

A New York-based auction house specializing in the sale of art and antiques. Phillips was founded in London in 1796 by Harry Phillips, who had previously worked as a clerk for James Christie, the founder of the auction house Christie’s. 

BREAKING DOWN 'Phillips'

Phillips remained family-owned after Harry Phillips died in 1840. Over the years its name has changed several times - Messrs Phillips & Son (1879), and Phillips, Son & Neale (1882) – before it settled back to its original name in the 1970s. It was purchased by Bernard Arnault in 1999, and the company became Phillips, de Pury & Luxembourg. Parts of the company merged with Bonhams in 2001, with the Mercury Group completing an acquisition in 2013.

RELATED TERMS
  1. Collectible

    An item that is worth far more than it appears because of its ...
  2. Sotheby's

    One of the world's most venerable auction houses. The company ...
  3. Gallerist

    The owner or operator of an art gallery. Gallerists buy and sell ...
  4. Chandelier Bid

    A bid that is announced by an auctioneer during an auction that ...
  5. Lyon & Turnbull

    An auction house established in Edinburgh, Scotland, in 1826. ...
  6. Original Print

    A work of art that is created using a master image carved into ...
Related Articles
  1. Insurance

    Should You Insure Your Collectibles?

    Insuring your valuable collectibles is just as important as insuring the rest of your home's contents.
  2. Personal Finance

    6 Major Collectibles Payoffs

    From comics to records these rare items scored unbeatable returns for those who were able to recognize their value.
  3. Retirement

    Contemplating Collectible Investments

    Profit margins are slim, but that needn't deter those with a passion for eras past.
  4. Personal Wealth & Private Banking

    5 Reasons to Invest in Mid-Century Modern Furniture

    Look for original pieces from the mid-20th century (not reproductions) as worthwhile investments – and get the pleasure of living with them, too.
  5. Saving and Spending

    Why the Classic Car Boom Might Be Ready to Bust

    The collectible car market has grown spectacularly, but recent numbers show that it may be heading for a correction.
  6. Investing Basics

    Defining The 3 Types Of Investments

    The first step to being a successful investor is knowing what is and isn't an investment.
  7. Your Clients

    Top Ways to Pass Passion Assets to Heirs

    Passion assets are finding favor among investors looking for alternative investments. Here's how to ensure smooth dispersion of these objects to heirs.
  8. Personal Finance

    3 Things To Buy That Could Soon Be Collectibles

    Collectibles can be a notoriously fickle market, but here are a few ideas about spotting what might become a valuable collectible down the road.
  9. Retirement

    5 Investments You Can’t Hold In An IRA

    Tax-deferred retirement accounts can hold a vast array of investments, but a few are not permitted. Here are five of the more notable exclusions.
  10. Home & Auto

    5 Luxury Cars with Low Resale Value

    Don't buy these cars new – but (if you crave one) they might be more worth buying when they're used. Here's why.
Hot Definitions
  1. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
  2. Discouraged Worker

    A person who is eligible for employment and is able to work, but is currently unemployed and has not attempted to find employment ...
  3. Ponzimonium

    After Bernard Madoff's $65 billion Ponzi scheme was revealed, many new (smaller-scale) Ponzi schemers became exposed. Ponzimonium ...
  4. Quarterly Earnings Report

    A quarterly filing made by public companies to report their performance. Included in earnings reports are items such as net ...
  5. Dark Pool Liquidity

    The trading volume created by institutional orders that are unavailable to the public. The bulk of dark pool liquidity is ...
Trading Center