All posts tagged: Sotheby’s

Rembrandt Lion Drawing Sells for .8 Million at Sotheby’s

Rembrandt Lion Drawing Sells for $17.8 Million at Sotheby’s

Published by Jenni Sidey

After a world tour that saw Rembrandt van Rijn’s Young Lion Resting (circa 1638-42) travel to Paris, Abu Dhabi, Tokyo, and New York, it finally sold for a record $17.86 million on Wednesday (all quoted prices include fees). That’s the highest price ever paid for a drawing by the Dutch master. While the result fell short of the overall work-on-paper auction record—$48 million for Raphael’s Head of an Apostle (circa 1519)—it far surpassed the previous Rembrandt drawing record of $3.7 million for Windmill de Smeerpot, Amsterdam (circa 1649-52). All proceeds from Young Lion Resting will go to Panthera, the wild cat conservation charity founded by the work’s co-seller, American French precious metals mogul Thomas Kaplan. Source link

Sotheby’s Prices 0M Art-Backed Securitization

Sotheby’s Prices $900M Art-Backed Securitization

Published by José Betancourt

This week Sotheby’s Financial Services (SFS) announced that it had priced a $900 million securitization backed by loans secured against artworks and, for the first time, collectible cars, according to the company. The deal is scheduled to close on February 3 and is expected to receive top-tier credit ratings from Morningstar DBRS, Sotheby’s said. In simple terms, the transaction bundles hundreds of loans made to collectors, using artworks and luxury vehicles as collateral, and sells the right to collect those future loan payments as bonds to institutional investors. Those investors receive regular payments as borrowers repay their loans, while Sotheby’s gets cash up front that it can use to make new loans. Source link

LVHM Shares Tank by 8 Percent

LVHM Shares Tank by 8 Percent

Published by José Betancourt

Editor’s Note: This story is part of a new series on the convergence of art and luxury. See all of our reporting on the topic here. LVMH’s uneasy quarter has sent another tremor through the luxury world, reinforcing how fragile any talk of recovery remains for an industry still grappling with geopolitical strain, cautious consumers, and compressed margins. Shares in the French conglomerate fell roughly 7 percent on Wednesday after the release of its fourth-quarter results, as investors reacted to weaker-than-expected margins and a notably restrained outlook from its top brass. The decline rippled across the sector, pulling down shares in Gucci owner Kering, Moncler, and Hermès by between 2 and 5 percent. It’s a reminder of LVMH’s status as a bellwether for global luxury, fashion, and the broader cultural economy the group helps shape. Source link

VeneKlasen’s Post-Werner Plans

VeneKlasen’s Post-Werner Plans

Published by José Betancourt

To receive Morning Links in your inbox every weekday, sign up for our Breakfast with ARTnews newsletter. The Headlines PASTURES NEW. Following his split from Michael Werner Gallery, dealer Gordon VeneKlasen has revealed plans to relaunch under his own name while reshaping the gallery’s structure, ARTnews reported. After more than three decades running Werner’s New York space, VeneKlasen will take over that location along with the London gallery, both now operating as VeneKlasen Gallery. Werner’s Los Angeles outpost, which opened in May 2024, will close, allowing the gallery to focus on its New York and London programs. Two longtime directors have been promoted to partners: Justine Birbil, who oversees global operations, and Kadee Robbins, who leads the London gallery. VeneKlasen will continue representing artists he originally brought to Michael Werner, while gradually expanding the roster to include more conceptually driven practices. The gallery will debut at Art Basel Qatar with a solo presentation by Issy Wood, alongside inaugural exhibitions of works by Sigmar Polke in New York and London. IN FROM THE COLD. This year’s Winter Show at Manhattan’s Park Avenue Armory offers …

Gene Hackman’s Santa Fe Home Lists for .25 Million

Gene Hackman’s Santa Fe Home Lists for $6.25 Million

Published by José Betancourt

Gene Hackman’s longtime home in Santa Fe has quietly come onto the market, offering a rare look at the private world the actor built far from Hollywood. The 13,000-square-foot compound, listed for $6.25 million with Sotheby’s International Realty, sits on a hilltop in the gated Santa Fe Summit community, surrounded by piñon trees and open sky. From the property, the views stretch across the Jemez Mountains and north toward Colorado. Hackman and his wife, Betsy Arakawa, lived there for decades, making the house their primary retreat until their deaths last year. When Hackman purchased the property in the 1990s, it was a neglected 1950s structure in poor shape. Architect Stephen Samuelson once recalled that the house was “horrible,” though Hackman saw something worth saving. Drawn by Santa Fe’s light and isolation, he undertook an ambitious renovation alongside Samuelson and Harry Dapples of Studio Arquitectura, transforming the building into a sprawling, highly personal residence. Hackman pushed for openness and scale. Ceilings were raised, walls removed, and rooms allowed to flow into one another. He wanted a …

Sotheby’s to Sell Most Valuable Single-Owner Whiskey Collection

Sotheby’s to Sell Most Valuable Single-Owner Whiskey Collection

Published by José Betancourt

Sotheby’s is binning any notion of “dry January” by betting big on whisky at the end of this month. At its new Breuer Building HQ on January 24, the house will host its first-ever live, single-owner sale devoted entirely to American whisky. Called The Great American Whisky Collection, it will be the most valuable collection of its kind to hit the market, with a high estimate of $1.7 million. A total of 360 bottles will hit the auction block, spread across 320 lots.   The auction is part of Visions of America, Sotheby’s weeklong series celebrating American art, objects, and innovation in honor of the nation’s 250th anniversary. The house, it seems, is hoping to position the sale within a cultural moment, placing Bourbon and Rye alongside other expressions of American creativity and craft. Source link