Phillips auction house might soon give larger rivals Sotheby's and Christie's a run for their money.

Led by former Christie's CEO Edward Dolman, Phillips is arming itself with new hires (largely from Christie's, along with the former Brooklyn Museum head Arnold Lehman), rebranding its emerging artists sale as "New Now," focusing deeply on 20th-21st century art and objects, and partnering with eBay for online bidding.

“What we are doing is adapting the traditional auction house business model by focusing on 20th century and contemporary art and design in order to provide the best service and the best expertise with the best auction catalogs in the best exhibition spaces and to build a highly successful and profitable auction house,” Dolman told Bloomberg.