Art Market

Phillips opened a new location in the Hamptons, showcasing a $10-million Basquiat painting.

Justin Kamp
Aug 14, 2020 3:50PM, via Phillips

Jean-Michel Basquiat, Portrait of a one A.K.A Kings, 1982. Est. $10 million–15 million. Courtesy Phillips.

Phillips opened a new location in Southampton on Friday with an exhibition of works that will be offered in the auction house’s forthcoming fall sales. Leading the exhibition is Jean-Michel Basquiat’s Portrait of A-One A.K.A. King (1982), which will be offered at Phillips’s November evening sale of 20th century and contemporary art and is estimated at $10 million to $15 million. The exhibition also features pieces by Pablo Picasso, Ruth Asawa, Nicolas Party, and Matthew Wong, among others, all of which will be available at the firm’s forthcoming auctions.

Edward Dolman, CEO of Phillips, said in a statement:

We’ve seen a seismic shift both in the art world and in the ecosystem of New York City. Our new location in Southampton will allow for intimate in-person viewings of exceptional works of art, jewels and watches, as well as the flexibility for our top collectors to experience artwork in person; that visceral experience is still such an integral element to appreciating art.

The Phillips space in Southampton. Photo courtesy Phillips.

Another Basquiat painting, Victor 25448 (1987), was the second-biggest lot of Phillips’s marquee virtual sale on July 2nd, selling for $9.2 million. The upcoming lot, Portrait of A-One A.K.A. King, has a higher pre-sale estimate and comes from Basquiat’s most-prized year.

Moving to the Hamptons has become the norm for auction houses and galleries alike this summer, as some of New York City’s wealthiest residents relocate to the tony stretch on Long Island’s south shore to wait out the COVID-19 pandemic. Sotheby’s, Pace, Hauser and Wirth, and others have opened outposts in the Hamptons in recent months.

Further Reading: Titus Kaphar and Amoako Boafo Works Star in Phillips’s Sold-Out Virtual Evening Auction

Justin Kamp
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Jenna Gribbon, Luncheon on the grass, a recurring dream, 2020. Jenna Gribbon, April studio, parting glance, 2021. Jenna Gribbon, Silver Tongue, 2019