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Phillips will sell a $35-million contemporary art collection at its New York auction house this May, featuring works by artists such as Alighiero Boetti, John Chamberlain, Brice Marden, Giuseppe Penone, Ed Ruscha, and Robert Ryman. The consignment represents a coup for the house and a sign of the clout and art world connections of new chairman and CEO Edward Dolman. The longtime Christie's CEO took over the lead role at Phillips this past summer. The house has salesrooms in New York and London and plans to expand to Hong Kong.

Though Phillips typically holds much smaller contemporary art sales than Sotheby's and Christie's, it has nonetheless carved out a niche and become well known for selling art by younger artists like Alex Israel, Oscar Murillo, and Sterling Ruby.

Following Simon de Pury’s departure from the auction house Phillips de Pury & Co. on December 21, 2012, the company is in the midst of a number of changes. Upon de Pury’s exit after 12 years with the company, the auction house has reverted to its original name, Phillips, and has plans to develop its New York and London locations.

Phillips, which specializes in contemporary art, design, photography, and limited edition prints, will expand their salesrooms in order to compete with bigger auction houses such as Sotheby’s and Christie’s. In February 2013, 11,500 square-feet of offices and 10,000 square-feet of gallery space will be added to the company’s headquarters on Park Avenue in Manhattan.

Last year, Phillips purchased a 52,000 square-foot building in London’s Berkeley Square. The auction house plans to turn the seven-story structure into their London headquarters, which will resemble the company’s Manhattan office. Rumors have circulated that Phillips also purchased space in London’s Mayfair district, but officials have declined to comment.