PHILLIPS’S AUCTION TO BENEFIT AMFAR
NEW YORK — Phillips, the London-based fine art auction house owned by LVMH Moet Hennessy Louis Vuitton, will hold its first major auction here since being acquired by the French luxury goods conglomerate.
The auction will take place Thursday at 40 West 53rd Street, and 3 percent of the proceeds of the sale will be donated to the American Foundation for AIDS Research. Sharon Stone, chairman of AmFAR, will be present to accept the evening’s tally. Works by Malevich, Cezanne, Monet, Picasso, Sisley, Miro and Toulouse-Lautrec are among the group of Modern and Impres- sionist paintings to be auctioned.
LVMH took a majority stake in the auction house last November and plans to increase its presence by beefing up its offices in London and New York and by adding more Internet business.