Phillips auction house has sold $1.9 million worth of art from the collection of Lisa Schiff, a disgraced art advisor, with sales ongoing. The auction house has sold a total of 231 pieces from Schiff's contemporary art holdings, which were put up for auction to benefit her creditors.
Background on Lisa Schiff's Legal Troubles
In October 2024, Schiff pleaded guilty to defrauding clients out of $6.5 million in federal court in Manhattan. As part of a plea agreement, she was ordered to forfeit approximately $6.4 million and was sentenced to two and a half years in federal prison in March 2025.
The sales of Schiff's artworks began in November 2024, following a report by Artnet News that bankruptcy trustees had retained Phillips to sell around 220 pieces from her collection, with a presale estimate of about $2 million.
Details of Art Sales at Phillips
Among the artworks sold, a 2021 painting by Joel Meslier, titled Untitled (Bananas), fetched $69,850 during the “New Now” sale in February 2025. The most recent sales included:
- A 2022 painting by Corydon Cowansage sold for $7,095 (est. $6,000–$8,000)
- A 1987 Richard Prince print on a T-shirt mounted on board sold for $51,600 (est. $20,000–$30,000)
Future Sales and Other Auction Houses
Phillips plans to continue selling works from Schiff's collection, though the number of remaining pieces is unspecified. Upcoming auctions slated for mid-July will feature:
- Two works by Richard Prince
- One work by Chris Ofili
- One work by Raymond Pettibon
The estimated total for these pieces ranges from $145,000 to $205,000. Other auction houses, like Millea Brothers Auctioneers, are also selling Schiff-related items. Recently, a group of 17 lower-value works was auctioned, totaling $20,325.
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