Victor was business partner to his brother Armand Hammer on several business ventures, including Hammer Galleries in New York City, founded in 1928 as a way to funnel profits made in Soviet Russia out of that country. At one point, British Intelligence believed Hammer Galleries was a front for Soviet Intelligence. The Hammer brothers had been in contact with Soviet authorities for a number of reasons, such as famine relief as well as when the Soviets sought a buyer for the treasures of the Hermitage as a way to earn hard currency. Victor was responsible for acquisitions for Hammer Galleries, including the so-called Romanov Treasures and Fabergé eggs. In 1937, Time Magazine described Victor and Armand as "Two of the most startling characters in the U. S. art world are the Brothers Armand and Victor Hammer, one with a medical degree, both friends of Soviet Russia.".