Phillips privately sells "African American flag" for $1.5 million
ARTinvestment.RU   17 апреля 2020

Work by David Hammons — is the most expensive work of art sold in the virtual walls of the online-галереи auction house

the Ongoing pandemic COVID-19 and related quarantine measures continue to dictate the rules of the auction world. In conditions, when the main auction of the season, especially post-war and contemporary art, traditionally held in the second half of spring and brings more than 30 per cent of annual income, set aside or postponed for the more distant time, the auction house looking for new ways to maintain and business development.

home Phillips, one of the largest auction of the three, this method was the combination of principles of private sales (primarily at a fixed price) and technology online-галерей borrowed from participants in the primary market and opening their own virtual gallery rooms — Online viewing room in his section private sales, launched last week.

, Here you can find a relatively affordable works of blue-chip modern art: Tracey Emin, Damien Hirst, Yayoi Kusama, Lucian Freud, KAWS etc., the Selection of works is updated every week. Descriptions and prices of works can see the customers of the auction house.

today, the most expensive work offered by auction in the framework of private sales online, is the composition "African American flag" (1990) David Hammons, one of the most popular and recognizable in the artist's work. It is known that one of five copies of this work is in the collection of the Museum of modern art (MoMA) in new-Йорке and another was sold two years ago at the tender Phillips 20th Century & Contemporary Art Evening Sale for more than $2 million Online-галерея offers a copy of this work at a fixed price of $1.5 million.

Private sales remain at the forefront of art-рынка even in this difficult time. And if this format of sales blue chip proves its effectiveness, it is possible that soon in the pages of such online-галерей will be many other top-лоты failed auction. It is even possible that in case of success of this venture only quarantine period is not limited.

the Material was prepared by Maria Kuznetsova AI

Source: artmarketmonitor.com