Globally Preeminent Platform Phillips Continues its Expansion in Asia by Adding 20th and 21st Century Art Specialists

Hong Kong – 3 November 2022

Phillips is excited to announce a substantial expansion of its 20th Century and Contemporary Art team in Asia. Lihua Tung joined the business in Hong Kong as a Senior Specialist and Senior Director, while Yvonne Fong joined Phillips as a Senior Specialist and Director in 20th Century & Contemporary Art. Ms. Tung and Ms. Fong will be major contributors to Phillips' 20th Century & Contemporary Art sales, and their jobs will contribute to the expansion of the company's active clientele in Asia.

"I am thrilled to welcome Lihua and Yvonne to Phillips as we continue to grow our team in Asia," said Jonathan Crockett, Chairman of Phillips' Asia division.

"In the last several years, Asia's influence on the global art market has reached unprecedented heights, and its importance cannot be emphasised. These additions come as Phillips prepares to move into its new state-of-the-art Asian headquarters in Hong Kong's West Kowloon Cultural District next spring. Our new team will collaborate to advance our ambitious objectives for this vital area."

Lihua Tung, a highly skilled expert in both Western and Asian 20th-century and contemporary art, gives her incredible amount of expertise and excellent ties with some of Greater China's most influential collectors. Having previously worked for Phillips, her new position will assist the firm in increasing sales and expanding its new presence in Asia.

Ms. Tung joined Phillips from the megagallery David Zwirner in Hong Kong, where she was most recently the Director. Prior to joining Phillips the first time, Ms. Tung started her career in the auction sector with almost 13 years at Christie's. During her tenure at Christie's, Ms. Tung played a pivotal role in the acquisition of several prestigious consignments in Asia. She also played a pivotal role in other amazing and successful events, such as the company's first evening sale in Asia in 2008, its first sale in mainland China in 2013, and Hong Kong's 30th Anniversary Sale. Prior to joining Christie's, Ms. Tung was in charge of visual art exchange programmes at the Council of Cultural Affairs of Taiwan.

Lihua Tung and Yvonne Fong have joined Phillips Hong Kong as senior specialists, contributing to the company's expansion throughout Asia.

In her new position at Phillips, Yvonne Fong will contribute to all parts of auctions, cultivate connections with customers around Asia, and play a crucial role in building a sourcing strategy for the region. Ms. Fong joins Phillips from Hong Kong's Simon Lee Gallery, where she most recently held the position of Senior Director since 2017. Over the course of a decade at Simon Lee Gallery, she played a crucial role in managing the company's operations in Asia and bringing its worldwide programmes and artists to a broader audience in the area.

She also handled Simon Lee's participation in prestigious art fairs, such as Art Basel Hong Kong, West Bund and Art 021 Shanghai, and Taipei Dangdai. She has established herself as a reputable gallerist with a history of very successful exhibits for artists like Mel Bochner, Bernard Frize, Paulina Olowska, Sarah Crowner, and Angelina Bulloch. Ms. Fong has had positions at Gagosian and Christie's in addition to her tenure at Simon Lee. Ms. Fong was chosen a recipient of the 2019 Prestige Hong Kong's 40 under 40 in honour of her invention, originality, and impact in the arts.

The acquisition of these two individuals strengthens Phillips' commitment to Asia as the firm continues to grow its presence in the region. Minhee Suh's recent hiring as regional representative in South Korea contributes to the company's progress. Phillips continues to see considerable annual growth throughout Asia.

In the first half of 2022, Phillips' worldwide sales were $746 million, of which approximately 40 percent was contributed by Asian customers.

In the spring of 2023, Phillips will move its Asia headquarters to the heart of Hong Kong's West Kowloon Cultural District, between M+ and the Palace Museum. Phillips will be the first international auction house to have a permanent purpose-built exhibition space and saleroom in Hong Kong, enabling for year-round events and auctions in its own venue. The breathtaking new Asia headquarters encompasses approximately 50,000 square feet on a total of six stories.