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PREVIEW VERSION
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Welcome back to Wall Power, let’s all gather around the Inner Circle
campfire. I’m Marion Maneker.
Tonight, I’m going through the data from New York’s midseason sales, which took place last week. Bottom line: The sales were good, but not great. Most important, though, they weren’t terrible. And there were plenty of good-news moments. For now, that’s enough to be positive news. Of course, there’s a fair bit more to say, and we’ll get into all
that below.
But first…
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- Sotheby’s Modern & Contemporary Evening Sale = £62.5 million: Yesterday, Sotheby’s London crew fought back against a confused market, and the shadow hanging over their own firm, to sell 38 of 41 lots on offer and beat the estimates. Led by Tom Eddison and Ottilie Windsor, the sale was assembled to...
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Buyers remain wary and sellers are greedy, but the latest New York sales hint at a new
reality: We’re still far away from the 2022 boom times, sure, but palmy days lie ahead.
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The art market has begun to heal. That’s the main takeaway from last week’s
sales in New York, where $50.6 million worth of art works were sold for an average price of $95,000. In the end, 73 percent of the 530 lots offered were sold, with just under a quarter selling at prices above the estimate range. Meanwhile, about one-third had to be sold at compromise prices, where the consignor did not get bids to their estimates.
The hammer ratio for these sales, however, was a weak .93, which
suggests the market still has a ways to go before...
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Puck founding partner Matt Belloni takes you inside the business of Hollywood, using exclusive reporting and insight to
explain the backstories on everything from Marvel movies to the streaming wars.
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The ultimate fashion industry bible, offering incisive reportage on all aspects of the business and its biggest players.
Anchored by preeminent fashion journalist Lauren Sherman, Line Sheet also features veteran reporter Rachel Strugatz, who delivers unparalleled intel on what’s happening in the beauty industry, and Sarah Shapiro, a longtime retail strategist who writes about e-commerce, brick-and-mortar, D.T.C., and more.
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