While Sotheby’s and Christie’s have been embroiled in a complicated federal antitrust investigation, Phillips auction house – with a solid reputation in London, but usually modest sales in the U.S. – has reported that their New York business has exploded. Their spring sale of Impressionist and modern art is poised to set an all-time revenue record for the 206-year-old firm. “Phillips sees an opportunity to crack what for decades has been a virtual duopoly that controlled more than 90 percent of the worldwide auction market.” – New York Times