Private Richter Sales Hide in Plain Sight at $95 Million Exhibit
- Phillips looking beyond auctions to bring in added revenue
- Lineup includes a $25 million squeegee painting, tapestries
Phillips is starting 2017 with its biggest private sales exhibition ever.
The boutique auction house that’s seeking to gain ground on its larger rivals is displaying 11 abstract works by Gerhard Richter with a combined value of $95 million. Most of the works, on view beginning Saturday in New York, are large-scale and nine are for sale, with prices ranging from about $50,000 for a print to $25 million for a painting, according Robert Manley, co-head of 20th century and contemporary art at Phillips.