Phillips recently launched Dropshop, a digital platform in partnership with contemporary artists, collaborators, and influential brands. This platform is billed to be the first of its kind in the global auction industry, directly partnering with working artists, challenging traditional primary and secondary market dynamics.
Phillips collaborates closely with partners throughout the entire process, from concept to promotion, offering limited-edition art and objects for a limited time through an “buy now” e-commerce model. These exclusive offerings are unique to Phillips’ Dropshop, and once they’re sold out, they’re gone. Regularly scheduled “drops” provide artists with a dedicated digital space to engage with audiences and collectors worldwide. Furthermore, artists will earn a resale royalty commission when their works purchased on Dropshop are later resold at a Phillips auction or exhibition.
Dropshop’s inaugural launch on August 20 featured works by the Australian hyperrealist artist Cj Hendry as part of her latest Crown series. Hendry’s drop includes 100 bronze crowns and a large-scale drawing of one of these crowns which reflects her “dedication to self-representation, inclusivity, and democratizing the art market,” as per a statement. The release follows an in-person event that was held previously on August 19 at 432 Park Avenue in New York City which culminated into a “treasure hunt” among thousands of inflatable plastic crowns — any leftover plastic crowns will be recycled for future exhibitions.
Cj Hendry shared, “I am thrilled to collaborate with Phillips on their inaugural Dropshop edition. The theme of the drop is Crowns, and we are bringing this concept to life through limited-edition bronze crowns available online and an engaging live event at Phillips HQ. This venture is a testament to my curiosity and the evolution of my art, which spans 2D, 3D, reality, and fantasy. I am honored to be the first artist featured in this exciting endeavor.”
Elsewhere in art, Banksy‘s Valentine’s Day Mascara mural is being sold back to the public. Not in an auction setting, however, but rather through a fractional ownership platform where potential bidders can pay $153 USD per share.