Jonathan Crockett on Phillips’ expansion and the rise of the art market in Asia

Phillips commemorates a major landmark this month with the opening of its 52,000 sq. ft. headquarters in Hong Kong’s West Kowloon Cultural District (WKCD). The purpose-built salesroom and exhibition space aims to accommodate a full auction calendar for the house’s growing Asia-based clientele, which accounted for approximately 40% of its $746 million global sales in 2022. Ahead of the launch, The Baer Faxt caught up with Jonathan Crockett, the chairman of Phillips Asia, to discuss Phillips’ meteoric rise in the region.

You have been instrumental in spearheading Phillips’ growth in Asia since 2016. What are some major milestones the auction house has seen?

Phillips opened its Asia headquarters and held its first auction in Hong Kong in late 2015 and has since built a strong presence in Asia via the rapid expansion of its team across eight major cities in Asia. We launched a full installment of auctions in Hong Kong in 2016 and began operations in Japan and South Korea with senior appointments the same year.

In 2017, we launched in Taiwan, and in 2018 in mainland China and Southeast Asia. In 2018 we also opened our first exhibition space in Hong Kong and have had a number of successful selling exhibitions there over the last few years, many of which have sold out.

This month, Phillips entered a new era in the region. It is an exciting and important moment for our firm, and we look forward to welcoming clients and art lovers to the opening and to our inaugural 20th Century & Contemporary Art sales starting March 30.

Jewelry and watches are an important focus for Phillips in Asia, and we look forward to unveiling important lots from both categories during our opening ceremony. These works were specifically selected to launch in the new Asia headquarters as a signal of the power of this vibrant market.

What are some challenges the auction house faced during the pandemic lockdown? And now that Hong Kong is reopening after three years, what are your expectations for the market?

The Covid-related restrictions in Hong Kong led to a significant proportion of the local art-collecting community leaving the city. And with the strict quarantine measures making it difficult for non-residents to visit Hong Kong, the auction market was affected by reduced in-person attendance at auction previews and the sales.

The reopening will undoubtedly have a very positive impact on Hong Kong's tourism and retail sectors, as well as other cross-border and international economic activities. Art Basel is bringing the art world together again and we are eager to unveil our new Asia headquarters alongside this long-awaited event.

What are some highlights of Phillips’ upcoming sales in Hong Kong? And how has the Hong Kong market informed what categories of sales will be dominant there?

Yoshitomo Nara’s seminal Lookin' for a Treasure (1995) will be offered as a star lot of Phillips’ inaugural 20th Century & Contemporary Art evening sale. The work is among the rarest works on canvas by the artist to come to auction. It belongs to a small series of only four canvases Nara painted that year featuring a golden-yellow dressed girl against a pale blue background.

Yayoi Kusama’s largest retrospective ever held in Asia outside Japan is currently on view at M+, which is quite timely as Phillips’ is presenting several works by Kusama this season, with Pumpkin (1995) being one of the highest value works by the artist to ever be offered at auction. Proceeds from its sale will benefit the Clarinda Carnegie Art Museum in Clarinda, Iowa, United States.

Our inaugural sales in the new Asia headquarters will include fine works by masters of 20th Century & Contemporary art, such as Claude Monet, Roy Lichtenstein, Andy Warhol and Wu Guangzhong, as well as works by in-demand rising stars such as Lucy Bull, Loie Hollowell, Jia Aili, Lauren Quin and Huang Yuxing.

We’ve seen that the market truly is global, but we do keep in mind local trends and tastes when determining when and where to offer works of art.

Phillips has moved to WKCD, away from the traditional Central Business Distract in Hong Kong Island, where the auction industry has long been standing. What inspired the move?

Phillips is known for its pioneering spirit. For me, it’s never been about adhering to outdated industry standards. When I first learned about the available premises in the WKCD, it was becoming apparent that we would very soon outgrow our former space.

To be in the WKCD means that we will be at the very heart of the major arts and cultural district in Hong Kong. It will allow us to work alongside M+, the Hong Kong Palace Museum and the wider district on complementary programs and events, further enhancing the area as a world-class global destination for arts and culture. Plus, the space itself gives us incredible visibility. The lower six floors of the WKCDA Tower are dedicated to Phillips. From the ground floor, one can look straight through, and see everything going on inside the galleries and auction room.

What are some key features of the Phillips headquarters and how will the new space help Phillips grow its reach in Hong Kong and across Asia?

Our new Asia headquarters are situated in the WKCD Tower designed by Herzog & de Meuron. The interiors of the new space are designed by LAAB Architects and embrace openness, flexibility, and an innovative spirit, featuring an auction room, exhibition galleries, offices, a café and a VIP lounge. Located in the strategic transport hub for the Guangdong-Hong Kong-Macau Greater Bay Area, our new Asia headquarters enjoy direct access to the Hong Kong International Airport via the Airport Express (Kowloon Station) and various cities in Mainland China via the High-Speed Rail (Hong Kong West Kowloon Station).

Besides the Spring and Autumn marquee auctions, we are adding more sales in Hong Kong, including some mid-season auctions. We also have a long list of programmes throughout the year, including a selling exhibition in late April dedicated to Kusama and Chiharu Shiota. In June, we will present American artist Brett Crawford’s first solo exhibition in Asia, and in the summer, we’re going to launch non-selling exhibitions collaborating with Asia-based collectors showcasing their collections.

Could you talk about the global growth of the Phillips team since you joined?

We now have teams across 8 major cities in Asia, and full capabilities in the region. We have also seen, thanks partly to our Asian business, tremendous growth globally as Phillips achieved the highest annual total in company history for two consecutive years. In 2021, we opened Phillips’ new global headquarters at New York’s 432 Park Avenue; and in 2022, we opened Phillips Los Angeles, our first brick and mortar location in the United States outside of New York. We also engaged important international markets in new ways, including our first exhibition in Seoul and a tour of 20th Century & Contemporary Art highlights to Scandinavia, which was wonderfully well-received. It has been a priority to invest in our pool of talent, with such notable hires as our first representative in Texas, and our new representative in South Korea.

What do you think makes Hong Kong’s art market distinct from other market hubs around the world?

Hong Kong’s art ecosystem is completely unique in that its cultural identity is informed by its mixed history of both Eastern and Western influences. The trade in art here in Hong Kong has existed a lot longer than people generally might think. People in Hong Kong have been collecting art for over 100 years. Unlike many of its international counterparts, Hong Kong serves not just the local art community but also acts as the main pan-Asian hub for the trade in art.

The dealers, galleries, and auction houses have long served the art collecting community here, with the market continuing to grow, and more importantly, to evolve. Moreover, Hong Kong still retains a more ‘open’ market compared with other Asian cities, if you take into consideration its free trade status, its comprehensive legal system with low corruption, its freeport policies, low tax, long established and reliable infrastructure, and its strategic and convenient location in the center of Asia, on the doorstep of China.

Phillips' 20th Century & Contemporary Art Evening sale, 30 March, Hong Kong