Phillips, which claims to account for 45% of the value of watches sold at auction, is moving to a new home in Manhattan.
Its current saleroom at 450 Park Avenue is described by the New York Times as cramped with poor sight lines, but that will change next year when it moves a couple of doors up Park Avenue to number 432 where Macklowe Properties is creating a striking glass cube building at the base of a mixed use tower.
“We’re looking at increasing our capabilities to present state-of-the-art exhibition space for auctions,” says Phillips CEO Edward Dolman. “It’s a serious upgrade.”
Phillips will occupy an open, double height 30,000 square feet space with direct access from Park Avenue with security, lighting and atmospherics designed specifically for the high value art, antiquities and watches that the auctioneer sells.
“I kind of built this space for Phillips, because I always thought their space was inadequate for an auction gallery,” says Harry Macklowe, chairman of Macklowe Properties.