Phillips de Pury will be renamed Phillips and its current head, Simon de Pury will step down. This according to the NY Times.
The NY Times reports
Source: NY Times
Just as the art world is disappearing for the holidays, Phillips de Pury & Company, the struggling boutique auction house, released an announcement that Simon de Pury — its chairman, principal auctioneer and the face of the company for the last 12 years — is stepping down. In a separate e-mail his wife, Michaela, who has been a senior director there, announced her departure too.
Come January the New York based auction house will be called just Phillips.
The departures come on the heels of Mr. de Pury’s sale of his remaining interest in the company to Mercury Group, the Russian-owned retail giant that bought a controlling share in 2008.
“During the wonderful and exciting years I had the privilege to spend at Phillips de Pury + Company the firm has become a major taste maker in contemporary art, design and photography,’’ Mr. de Pury said the statement. “I embark on new adventures comfortable with the knowledge that the company is in an excellent position and has been going from strength to strength.’’
In her e-mail, sent to friends and clients, Mrs. de Pury, who has also been at Phillips for 12 years, said, “I together with my husband have decided the time was right to pursue other avenues.’’
Phillips also announced plans to expand its presence at 450 Park Avenue at 57th Street, where it first signed a lease in 2010. (It currently has offices on West 15th Street in Manhattan.) It is also increasing its presence in London, where it now has a gallery and salesroom on Howick Place. In October it bought a larger building at 30 Berkeley Square in Mayfair for $160 million.
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