• Join Puck

    Directly Supporting Authors

    A new economic model in which writers are also partners in the business.

    Personalized Subscriptions

    Customize your settings to receive the newsletters you want from the authors you follow.

    Stay in the Know

    Connect directly with Puck talent through email and exclusive events.

  • What is puck? Newsletters Authors Podcasts Events Gift Puck Careers

The Phillips Fee Screwdriver

As auction houses look to regain their mojo by tweaking pricing and structures, Phillips has announced a true potential game-changer—a triple whammy that increases the buyer’s premium, offers a discount to early bidders, and previews intent. So… will it work?

Phillips Auction
The smallest of the three main fine art auction houses, Phillips doesn’t have the chance to compete on volume and must charge slightly more than their rivals. Photo: Courtesy of Phillips
Marion Maneker
July 22, 2025

Sandy Heller, the powerful art advisor, was being interviewed by Christie’s global president Alex Rotter last week during a conference at Radio City Music Hall when he mentioned winning a lot at auction for his client. “Then I have to deal with your fees,” he said, taking a good-natured swipe at the buyer’s premium Christie’s charges. Regardless of how much money one has, of course, no one likes paying fees. Yes, rich people can often seem stingy, but sometimes that’s just downstream of the feeling that there’s always more to pay. (Or maybe the feeling that they shouldn’t have to pay the fees everyone else pays.)