Phillips Opens New Milan Office in Palazzo Visconti

International auction house Phillips will open its first Italian office on September 14, 2023, in Milan's historic Palazzo Visconti at via Lanzone 2. The 16th-century building, designed by Giuseppe Meda between 1589 and 1591 and restored after WWII with interiors by Luigi Caccia Dominioni, will house a contemporary office and gallery space. The Milan outpost will not host auctions but will feature previews of highlights from upcoming October and November sales in London and New York, including two Lucio Fontana works. Carolina Lanfranchi, Phillips Regional Director for Italy, and Margherita Solaini, Specialist, Associate Director, Contemporary Art, will lead the space. The move places Phillips alongside Christie's, Sotheby's, Artcurial, and Bonhams in Milan. Founded in London in 1796, Phillips reported $453 million in revenue for the first half of 2023, down from the post-COVID rebound year of 2022. The company recently launched Dropshop, a primary market platform that debuted with a sold-out session on August 20. CEO Stephen Brooks emphasized market expansion across categories. The Milan opening signals confidence despite cautious market responses to recent May auctions.