Phillips auction house specialises in the artworks of contemporary artists and designers, photography and jewelry. Since the second half of the 2000s the artworks of the artists from Russia and CIS countries acquire more noticeable role in the catalogues of Phillips auction. The record sale for the Soviet and Russian art of the postwar period became the artwork of Ilya Kabakov ‘The beetle’ which was sold at the Phillips auction in 2008 for 2.93 million pounds. In 2008 the house received a new owner – the Russian company Mercury Group purchased the control stock interest of Phillips auction house. Today the sales of Phillips attract growing interest from the Russian art investors, and financial indices show fast growth.
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