Phoenix Ancient Art is an extremely reputable and successful dealer in antiquities, which can be attributed to several unprecedented developments in the revamping of their business model.
Perhaps the most crucial change has been their guarantee: They will grant a full refund on any purchase price, even if you bought a one million dollar artifact, whose provenance turns out to be untrue.
Peter Chavkin of the law firm Mintz Levin, has worked with the Aboutaams in the antiquities market. He explains, “You want a dealer who’ll stand behind the pieces and anticipate potential issues and the Aboutaams have the wonderful approach of not sticking collectors with a piece that turns out to have problems.”
Due to this and other changes Phoenix is doing better than ever before. Those “in-the-know” say that Phoenix has traditionally done more antiquities business than Sotheby’s and Christie’s combined.
Notwithstanding the record sales of the bronze Artemis and Guennol lioness in 2007, Phoenix also had a great year, selling 12 pieces for more than $1 million each in 2006, compared with only 2 pieces selling at that price in 2005, and Sotheby’s selling none for over $1 million in 2006.