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They will be used to house Phillips de Pury & Luxembourg’s design, photography and jewellery departments; will have London office space for company executives (Simon de Pury and Daniella Luxembourg both have offices there) and are also equipped with an airy but intimate first floor viewing room.

Here select items from their forthcoming public auctions to be held in New York and Geneva can be put on view, as well as paintings or other items destined for private sale, which is an important part of the Phillips de Pury & Luxembourg business.

The company described their decision to base the design department in London as “part of Phillips’ ongoing strategy to secure important European collections and properties”.

“We are here to be the eyes and ears of Europe,” explained Alexander Payne, Phillips de Pury & Luxembourg’s head of design. “We are offering our clients a West End showcase and full European exposure” .

The Albemarle Street premises are not large enough to accommodate auctions. Simon de Pury said that although the company could in theory hold sales in London under the Phillips name later in the year, he had “no immediate plans to hold sales in London”.

However he added that if the company did hold auctions in London in future, they would probably take place in a hotel or similar venue, as is the case in Geneva.