Phillips, the world's third-largest auction house, announced that it will donate the full net proceeds from its London sales to the Ukrainian Red Cross Society.
Phillips will donate 100% of the buyer’s premium and vendor’s commission from the 20th Century & Contemporary Art Evening Sale on 3 March totalling $7.7 million to the Ukrainian Red Cross Society, as they work to aid those affected by the conflict in Ukraine.
“The Ukrainian Red Cross Society is doing incredible work to support and protect people in the region, and it is our hope that the buyer’s premium and vendor’s commission from tonight’s Evening Sale will help this extraordinary charity as they continue their lifesaving work,” says Stephen Brooks, Phillips’ Chief Executive Officer.
“We at Phillips unequivocally condemn the invasion of Ukraine. Along with the rest of the art world, we have been shocked and saddened by the tragic events unfolding in the region. We call for an immediate cessation of all hostilities in the strongest possible terms,” Brooks adds in an Instagram statement.
