Auction houses can be reactive to the market but they do best when they try to lead it. Not too long ago, Christie’s was the house advancing the top of the Peter Doig market with the most regularity. Then, this Spring, Phillips got in on the action.

Yesterday, the auction house announced its plans to take another run at the artist. The estimate on Red House is $18-22m which would put the painting among the artist’s top prices. Here’s Phillips’ J.P. Engelen:

“On the heels of Phillips May Evening Sale, in which Peter Doig’s Rosedale set a world auction record for a work by a living British artist, we are delighted to offer the artist’s Red House as a star lot this season. Executed in 1995-1996, Red House is a true masterwork, created at a pivotal point in the artist’s career, directly after his Turner Prize nomination.”