Phillips de Pury just sold a record 100% of the 318 lots at an auction of the Estate of Mrs. Harry N Abrams, un-hoarding Warhol, Giacometti, Lichtenstein, Rauschenberg and more onto over 1000 registered bidders, making over $6 mil. It should trickle up as a bit of nice pocket change for the Russian magnates that own the auction house. Fun fact: Mercury Group’s yearly revenue is estimated at $8 billion.
In 2008 the struggling auction house was bought out by Mercury Group for $60 million with a little consistent persuasion, wink wink, and half of that money was used to pay out Phillips De Pury’s debts. Mercury, the retail group that spends most of its time peddling Rolex, Prada and Ferrari, has been expanding its business towards art in the past few years. Their current public face is all about “fashion.”
Just now, Mercy Group’s VP Alla Verber was making sad faces to ABC about how bad she had it growing up in USSR where you could go to jail for having a dollar in your pocket. The “fashion icon” who spawned Russia’s own Paris Hilton is supposedly bringing sexy back over there, a task which relies exclusively on gussying up all the broads in brand tackiness.
Image: Katia Verber, Alla Verber’s daughter