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Date: Thu, 17 Nov 2022 11:33:41 -0500
From: LiveArt <hello@liveart.io>
Reply-To: hello@liveart.io
To: enzo@showfile.com
Message-ID: <1668702720719.76855bdb-36e8-448d-9972-da30bb9de483@bf08x.hubspotemail.net>
Subject: =?utf-8?Q?LiveArt_After_Action_Report:=C2=A0=C2=A0Sotheby'?=
=?utf-8?Q?s_The_Now_and_Contemporary_Evening_Sale?=
MIME-Version: 1.0
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boundary="----=_Part_4181434_1254375902.1668702819961"
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------=_Part_4181434_1254375902.1668702819961
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Content-Transfer-Encoding: quoted-printable
It wasn't an exciting night in the art market but it was a solid one as Asi=
an buyers kept the Ultra-Contemporary market going and a quiet flight to qu=
ality took place.
LiveArt (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59=
nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0p3pdqSV1-WJV7CgMSWW6K1TVR5J24W8W375mtY4rvnsmVG=
csWK3vMBL9W2DjsTc589pPZW73FDjP8V2qz0N6QfsT-9XBhZVcxSVP16ZBFgW1ygX9H8xmCr1N2=
sX_W2S1C_ZW5gLjlX31_7vkW28kZj6337bt9W2D6tRn6tM3N4W3jtLl26KnB6vN2pYP_BzqWQ-W=
8yvpnJ4M3j0nW3q6WgY6MMx9bW7HFqd46MD6ZwW50sSZ82pgdf1W4CFzdt7xX56-W2pQ38H2CcX=
yw3gws1 )
Sotheby's $315m Contemporary Sale
It wasn't an exciting night in the art market but it was a solid one as Asi=
an buyers kept the Ultra-Contemporary market going and a quiet flight to qu=
ality took place.
The Now (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59=
nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0_3pdrrV1-WJV7CgS68W5hWL0c2dZkTgW2T9Z7z8sD1jzW8=
FBQWn84Z9BrW1slGWb943VYLN7ZfSxM1GnT1W586j2v9hLRgYW5ZQbG67lFn-wVPbNRq5dXPQ1W=
5-g89Q7p9b15VC2Rj16vSPmSW8dHDL77QVRPjW7_PN2R7pfwJsW3blV203z0jDRN5pmr7RDkNrr=
W4MhzK_5tYlrxW2w8kBR7fhVsHW6mhK-l72YPvNVjwdYj5nV5x_W25ZMzm7MyGbRW2zgx3r1zzq=
-BW95nlRy3QDS8DW6KS-LL8vRbR-VXwkWX4nbkXdW1g4nYn4YrZSY3dhb1 )
LiveArt After Action Report: Sotheby's The Now
Total: $137,863,700 with 100% sold (22/22 + 1 lot withdrawn)
Composition of Results: 45% above/ 36% within/ 18% below estimates
Aggregate Low Estimate: $29,380,000
Aggregate Hammer: $37,030,000
Hammer Ratio: 1.26
Average Lot Value: $2,083,580
Asia to the rescue: The strength of The Now sale was the unexpected bright =
point of Sotheby=E2=80=99s evening of Contemporary art sales. The firm=E2=
=80=99s publicity department made sure to communicate that a key element of=
that strength came from Asian buyers and bidders. As with the Paul G. Alle=
n sale, Asian bidders provided the swing money that can drive a work=E2=80=
=99s final price to something eye-catching. According to Sotheby=E2=80=99s,=
Asian buyers took home works by by Yoshitomo Nara (https://email02.livear=
t.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx059=
jTY5V7Wycr7Cg-NzW2D10v36Bx-QKW6Zz6fT2tB3FPW1kG1xS4MpKYWW99dKwc5MQd6BW50QXNT=
1xZDHNVHjNv-71nMzNN4h6MNhmq72dW6S_lnV4pfxkqVHsKJj7W3T9QW181_9K6qB2zRN43tNNl=
-HZ17W8bg9SX3Gq4r0W4ctXxw3z68fwW6qZMf82m5D-rW426RRR4Qq_bmW7mcksx89h43pW46q_=
9c3bLDyGW4zcp4t3WRljgW2_txb_3801Q5W2ZL0B38yTHG_V2bfq42v2yhTW2_Y08Z4ww6JrW5Y=
P8r78KpQ_YW8GPS-y5N_sZ9W45J_2H5kT8D9W5HSx-J30yTnNW7_xKTj4ZDXCMW259l4L5YbW1c=
W4rqzdN6jC_x9V-51BL79YN8zVjsfCZ8LWgvLN4Bn5btDPLqbW4Hgl7M282hCXW710FJb8xqqpG=
W1-KVgS8Kbs7XW2Ptr3n4l0Bn6W4MMdCW4wnMM1V9Pwrp7RQcgxW3JX18B2byH3gVQTqqL7VqTk=
HW59y51q9662m4N1mBTfLswLXmW4q49301FhnFZW55zDfB5QD8RXN1pHfqFC9r01W8mfS0t1qrL=
1bW92cghj2H3JkQW8mmQKb4YNNnKW37BhPs5bG7d-W31Tt1c8zt5VFN3tYB6-Q909xW1Dllzr5y=
HZT3W40L12q1LN_3_M4njCnDVWX1W6kyztS6NTrZSW3rb0-M7qc4mlVCQQmt8sXsyRW2WKLHM98=
sf4DN3sZtdTyt6rCW4glbvV3nsCp2W3BRdGJ8hWjf4W16wp2B6DBqqCW3rJX5Q2tFN8kW8J9zQw=
7zG3RxW8X7V7C75vw4FW4bLSMl1wxW5k3g4H1 ) , Nicholas Party (https://email02.l=
iveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7z=
rw_Q9jTXQV7Wycr7CgWdpW2Zk3p_9fHqC3W5tcRVJ8H0kyNW7njtxS87w4JBVGJqqY8FWn1nW9f=
lR3g21Sjr_W1rD6B14z7W2cW650mmP5FQ4vnW5L14jM88fmbgN8yTpHf29gffVYCDVH1R_xn3W6=
b8KRV7B6VMGW2WBy8y5BwvBqN8PpM_x4jH18W6v7_2-8CxBjzW2zvtwQ49QBgJVxWv3M1Zy_CrW=
6978BT1L6ktBW6djNDP7BPpmZW37wkDH4FP3YNW1jzR0644Bz9xW8tPmkj94Vk-wW3KwL2t3qbS=
v1N5xhXTDpyxyCW78cyJC7xxk14VT1n-W7bsR8mW5bWd9M3RKbd7W4CfBHL5F45V9W6T2clk7xc=
bPgN8DbnCsY5_YcW8Kk7bz6rjT_kW21sqYr6Hk8_8W83vGFN6p6f52W1dXX5v548-HFW97PGvl8=
KVJklW6jc71h7LQ08HW5K-Md_84_-BJW1jX6305hwS43W6RY1n140G8_BW1VHQKv7HQ3vgW4hy-=
Y88RcrDcW6SxxD81FrfhmN2h1gW0T-d7QW10KRN28l7RwwW3vvttH22YhF5W2_XqR-7649vwW24=
KK1F6GbjwYW48QqpJ1G1J72W1zN-Zy6KxBZ0W33K1__6bK57vW5TlhY81YnBQ9W7wqbJs6l-98Y=
W97sd812x7ZdDW4L8hHS1V9D8KW7tCRYf5cvbnNW96390M1kkmknW7qYRr13h9v1xW1tLyn_3p4=
LZ4W8nFs-T1d55RzW2z7pSv6fbPt0W34r65G65QrvSW76l__b8t6WHKW40CQft59pzqfW7N8TYW=
2zYQbvW4F-Pxp1k44D036dH1 ) , Salman Toor (https://email02.liveart.io/e3t/Ct=
c/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx059jTY5V7Wycr7=
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2Z27SrMQW7qySxg5m8sWhW6PH-fQ41rzLDW6Vbh026z96qTVqkVfv8Z07Y7W2cXZdZ3-d6ZnW7m=
s-Rm8jYm7NVZKvNB6Tmq9KW4Z14hT48_kC2W4M9tCh1F2yp6W4P4XVW82Q3YvW7Y7RcJ3dCNWCW=
1_dGn28H_19XW814Xrh55klDtW24DNB84s-m8KW2XbrS84nXQ4jW11ml2-1s_KyLW3dYmtw9h2p=
NvW7RVDJQ8kpcV9Vhppmm2mXqbpW3-s09X6R0Y6yW2_pjkZ26T3b5W7LzlrX5b4GH8W4b3WHg18=
n9GpW3lBTZb1XwYY9W6c833h1QtxJyW3MjzzJ8qZp0LW6wWZKQ2bnbTWW7ymTsJ6pDm07VdlXd3=
6PLkTQW3sKxyv4xY0XDN5kcRpDbvfqTW8hSn7f7DDGG9W4XXCks8FzCycVBskfs4m4V5bW2zqQY=
b5b8VNKW1qdfLB50573WW7SZHKh16-1r1VzlbFM5wVM6DW2Gxnjr3PvljsW75D4DV794G0kN2d9=
1kxHsfMYW1Wlj1x9lg5jCW6gfrCY6lwGLsW2RNxZq36f8hZV5dkTR85yg4QW7Wpx4Y8H72l3W3L=
THmQ9dJLr7W2CKyNR4xf3m9N8yCSJp7dd6jW4ythZY23G8rRW6HT3JF8XfW-dW5xLX492mzNm8W=
98BPpg60RMCYW33Nn_14hkXtl3c7B1 ) , Cecily Brown (https://email02.liveart.io=
/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0J9jTYJ=
V7Wycr7Cg-F_W1XtRV_7XVyykMFXgZZKHzx2N52xtK39TBk4W6SDpNs4xfclnW47HgQW6ZT0sqW=
5p4X7c1r1fszW8VdWW832NgBNW13nrKt1nhX6jW6LTj6c6Fn2y8W1DN-0R2lVHV_V_7QRx7WBFG=
ZW1FH8Ny73Dt0fW28_Vtm3d-xn6W5d3SDr9dSVYbW52FPJj6f6cXcW2v4Lyd91rGtmW1zkdsJ5T=
2T3XW1dwVny6bq_P-W4t2sRk2CTrpvW9jkStK4Pfm0fW8-9rKM3tXKf-W2xDHl38bfgxGVPqH_x=
6sGX6wN7rxmcZpDwyLW5YQtmM2fBQT3W3HgrwK6TJKQ6W2g8NCz4sqSr0W7vwH_-428xK8W660d=
Nz4RcbCbW3JTDX-7mYmVlW5J_X3f2BkRVRW1GmTxl7V3Cq_W7JGPQ14drZQMVVT4678tNTbZW55=
crfP3cmmqnW3fq0fj1vShkmVkgcQK7pQ15mW50cwdH2YbcrsW1HHDWt6F8jwgV86Tc85JZRTXW5=
SknZG87NTDjW19R6RR6bpj9fW6LDKXc3Tcpd-W2nxNsz4t6g4kW3y48ts3_vGKrN7xstfLxkrQB=
Vx75G12FRpdbW7g_ktp3hWxXDVvBYML4zWZ27W2jw6sp6h7jKqW8Y5Y_P48wk2RVy4cNT7dLkp_=
W65wnhz6k5NqmW8yqGlt4dbkC3VV8wY41z2qS4W130d414zK_5HW7XYhXC5jDLh8W7w88Bw8DlC=
RgW4grJGd6X2YppVtpz_P5c_mh4VNqknW9lT48bW6bsM7g26HZP-W49_7jv6MsmBQW8XF0hJ5V6=
HNhN3BGqtd2721rW1QW3zg8XZy20N1VLFvQjJ5bKW5YL2wW1Ht37NW5CS6RQ3QbdLsW7C9Jhp6Y=
bQ0b3j0S1 ) , Maria Berrio (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBd=
p04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0J9jTYJV7Wycr7CgBhqN6hNhWbjg=
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7xS-_qW7Bg2Pg9lfGW3W2P5vQh3RCRrDW6qP97k54vT2qW5N_db_8Y6S24VCbPY86vsXXKW2kG-=
FP11MdZTW13-CxS14mctZW16FYTh8_L5kxW2sPz_J3JDqz8W281Jt33NYmbSW8Vc8YN7jSVxnW5=
KcJ9p2mSk7FN830MNsk8q0YW1LHvLQ882_3DW3Jv8wj4F6S7DW3hyyVn7vytf0Vlwl-w1x8bsvW=
6T90mC8RrkV8W8Dmrcy20zBqVW2qw9kH6j5By6W2M68jh2SkWt_W2tGJZs6tw4kSW8Xg6y82W7V=
tdW4mHgwL7c3SrcW4tqfCv7wbZ5JW2-dDy215b1rXW9gFcpL5DVznmW8qxb4B8FCfDgW4yycFp4=
gK0yqW9b2qYf3SRf_PN2Pnd_CVLV9MW7Y-wrh3yxPtjW5GhNpG6Bj6QdW8vKXpP2gWBZdW1K_0m=
z20rzJZVmyH_G8C3XT2W2YvZ_52j0YT6W2W2vs566D2ggW11Hc_r2FY4gBW7XK3n334Qnn6W8SB=
4cN2jyl13W3xmpq72dk7P_W3YtSTY7vcYNdN1hSmw5Gh144W8PmBKD5Lm-V2W2wwp2r24rPvrW5=
v7kyb8_ykx5Vb29ck4tKwLGW6lQDBL9b_0KSW7Fb1TL30v_FFW6CJq0r7sHmYcVd75GH6WgtqSW=
5P9M_X2w_phJW3rRJtd8W41grW4_QZS_6X62V-V29XJc4t638YW5HPGpX4kTTM4V7yssK42x7Rs=
W2FT_gg7cGX5WW7-Rpyk5-lqQvW8N4kkC6F6ttdW7s_gsX3KhtNGW8bzbPm2DRV9d3mvZ1 ) , =
Christina Quarles (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrP=
Z80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx059jTY5V7Wycr7CgL38V-xRvM8RhNwVW3vNbN=
84gzCv_W54C-Z45D951lW5Zclld7FcM3rVxr6L56P9M2fW8nL-Pq1LmrqsW17s8Sj6WTdTZN5yg=
M2N24tCYW7TqQ8g24GpPwVKlxlZ5m-0SnW492fnJ578-ptN5f3C7MlRHd-W8yP6P95qYYcBN4G3=
GLgYFg3cW7R98VS2kJWYmW4X7hkc5Jvt3kW5RHHKh9fy4TpW5QYVFq5Sjv6HW35gY8s1HTbPCW3=
Kx9yl2BX0CQW7vkZds73F0FjVHs20J2k3d6BW5ggyCW2xz2cGVZNbjp4V4MgrVBxV4g3WHCNvN1=
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bfW2Rb2Nb5WyP75VZxYVg8qF6YgW4jk95F6_WlXfW6Djh7p7MV46YW57rXdg2RBZGmW79KM4H45=
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) , Anna Weyant (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ=
80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx059jTY5V7Wycr7CgZJKW7Wb8mV869TqbW4F9Bm=
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rqV-89qxK6W92BXj-4YBxyBW24Wspm6CfPctW6y1ZsR95mW_xW2SdqJ02H25HlW208g815YPF_X=
N7Zj9H0sZb8ZW6fRVpp1byKKbW4bYfVZ1ZQmPjW4WpFhx2m1nSbW9jHy3S1SkZ9wW18tT2k3NzL=
y8W7GXvR14NZThtW38sBF_4ww4DtVmQK0L22knfMW6ktr4B3vpKyfW8zfn3N641mGVN2dxzQt5T=
g2t3mZz1 ) and Avery Singer (https://email02.liveart.io/e3t/Ctc/DO+113/d2x=
Bdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrw_Q9jTXQV7Wycr7CgNG9W1M8DnF=
8gr1bgW9gCyhD5LfjZmW26dNGM6W7CYjW5fnvfz7xKb_zVzhCNr7ClwPxW95fhw01CtqhRW1PLV=
Dp7mrdXfW1_DBbF3xFq5yW80LZkH24qdP-W2rTv2y3CtvRsW4T--3r77dGfQVdt9-n15tFrCW3n=
wgtz1XwsrcW6RJC945FSShCW5Zs10Z5KrP4lW26Mzmq7jbyxFW5jNCtf11gVnPW7nQWGh4SGydC=
W2_ZPJ_4fpPJ5W1lmjKq6x1_1zW610pL76Rsx9KW8wzBCw4S9KNVW99Qt372Ms3m5W8KZQC78S2=
9sqW88tTw_7_NMK4VdmDNs6J6C1PVWkl9c7nW2b-W3tL_2q2Lm7VkW8v5ctD71zgpVW8wmMpd14=
HrymW6KvJcD8LfgrjVTdjWG29zLqRW76Z7tK5r_7YVW2J2nGy29522rV9tHPP3KVdsQVtPZ5-3S=
PyJmW533k2S6kCfkGW3Ypkcw6hlNhZW1m5_l04qyTN5W4CjbGR4cjwyrW3ZrJDc370SPqW5sfyX=
m8V5dD6W4gL6Qv2wH6QRW5PbrJ_1D5NsSW26bT-78m0DnNW6W2X7y3Y5bLpW7KCy052Z4w3LW1D=
tN1n2s7fcvW49jF9q3lP5DFW2w4-vQ66R7cdN74RTHMwvf6TW3WPNm38Vq_-jW7D45dW79DM5YW=
5DX9YP5fHZSgW5GfsMX6qHSnNN5W0B8z7t7N6W8wHdy42rgFMTN467gg6s30s1W4YYvjK57Jpts=
W97Rbgp7XyG4NW642FN85NwSLwVbmNcy8zdW-nW2J5pgl2YkrGfW7Dgx2y6JYlmw3pp31 ) . T=
hose lots accounted for half of the value of The Now sale. Asian bidders we=
re also active on almost half (45%) of the lots, including the (Louis Frati=
no (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1=
P8jP8W4PtzZh4Sv3PbN7zrx059jTY5V7Wycr7CgJzDW6118dF4KWYRTW8BlybN5gnk77N2B6SYS=
1l6YQW16fdDQ4kLkz4W60SHPn2g9Dw3W19t58c3dTLMNW8Ns9Cj6w3VyBW41Xzk33B6qmQVmw2-=
c70-5mTW2Z2cqs5XrWbGW7xVNLp12bXd8W8fZrLq8qwSpxW83TQm64vWXlhW1Ym1HD7qFNHLW3Q=
QRpM5CBmz3W2D6-V31Hg8TVW83DQGT69DHgHN6Rznr3V-YFNVYD8t055wc9FW4gtj494wtkf-W9=
2lKf18g0CTtW54jWbX52FvDSW3WBBjg5l8YKgW5HLr7T6FG2ndN1czlXt51GxbN96_cpwcLY5CW=
73Ndcx49595XW9dlF4C1HvK_lW52X4nr6DxN3DW4J-VqC6btkyHW2C-wXD4WkYG9W5VVm4C3sJv=
RjW47DXNT1N85PJW9fy81C6X8q5MW4xg9Cy7hThGZN3gsbWPfd-4wW3PfpZ292XPC6W1wqlGz2M=
Xtv-W6dSLnq342CS-W4BSWtv2F8jKyW1hkT5k6kpcNpN1QWBYG3XZyrN1Z2wvdtt7b1VfkF7b1M=
T9qDW55W0QS76_DM2W49mmvL72f_g5N2Tb1f0pTqtwW2-5c_B3nW-tYW353ZPD9bX94rW7-z3HC=
5X5CF6W6C0YLK2WR1H2W3TM1cD65tnlRW4yfDbL8Rg7SGW5M0sxy90lcYbW3BN8y66G4V65W8CW=
jMl1dlrMmW2RVFc138gKz-W12W9vp4CWWxwW7qWKyh3yvnWGW4j5HjW7t17wsW7mPXwL2w1SN8M=
_dP6jW6WMwW2FHY5s3GmYnyW2FSGXx8K7ryfN4K2J3jNQCb-W5-LVCT7Spcy03msG1 ) and J=
ulian Nguyen (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xw=
gHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0J9jTYJV7Wycr7CgZMgW97HnsP7_wqfcW1yq_LR41c=
jtjW4dNqDr10FJS5W5QGHYW59JsgjVg05s41NSWhtN4x47KzHTp35W8qqJkD8DrP3wW7B7MtY8y=
qtLpW4J2FPC8C2PXKW1_60x387DdccW7Y8lhk5X7hwlW1lbBKv6Xc5LcN8y9j9992Y2MW227S0D=
3KX_HNW3DFCgf79bbH0W3qqSQ517b8swW50YlxC3_tz4hW2hW_Sq3DL950W9hQMdz74B2yvW3rH=
0KH8KPwy1W5SMPqy2_yl6cW1B5Whd2r11qDW4mqJ1d1WG2TKW4trg-043rbHLW5mZSkQ1XPX_MW=
7xKGVD7ZMD4TW7zdcNw4DNMlZW4yVQVw3tW-RBW91tLlF5CD-0GW5MvQV24cbdYxN7SkrpYZzF1=
NW4WJL2f4F-xm0V2Wt5w81nknBW9dtGv95WvFf1VLfj-M5C9hcDMNgqsmVHjnHW2j-hTy7jnbSK=
W59bXlH6y7fXhW3hK_Bc86hl4JW2wFp7s8fk_YnW30MG3k3V-FF3W1nyv9w3fJH4HW74Z34Q7gr=
g7TN6DD9JdmF1dgN7GNQbrxYGBCW4r5pHg3GJCJkW11ps8k6Y1TrpW208jtW4P5NzBW1l_-5t70=
mpjwW1v308m2Kd47xW4nHDfh7JwLlMW2wnQkC8Z5jF2N6T7M6bXphsMW96d_jl1sRL58W15PDMh=
2LtynCW4ZVW4q1_xF8-Mj9W_rVGCd4W88SD5H5RMMFGW5dZy2y376dnsW5Xgh1W43qhGxW2lRbT=
18wPdGwW3Mhw-F5YTvCGW34Gxcc79ZSt1W4nt-Lq3yWw30W2s5rNk4cQlTdW1NfDny1zBrl6W1H=
nDz970V4R3W5xYS4h4fz1SFW4CySV95KWwGMW8nktt14F6v6s32Wg1 ) ).
What Asian buyers took home: The Louis Fratino doubled the artist=E2=80=99s=
previous record price=E2=80=94for a less explicit work=E2=80=94to sell for=
$730,800, a clear signal that some markets with momentum will continue to =
rise. Salman Toor=E2=80=99s echt image=E2=80=94the painting that starred in=
his show at The Whitney and appeared in many of the press reports=E2=80=94=
also doubled his previous record giving his market a second wind. Julien Ng=
uyen=E2=80=99s second big sale at Sotheby=E2=80=99s would seem to be just t=
he beginning of a market run. Anna Weyant=E2=80=99s market continues to sol=
idify around subject matter with Girl Crying at a Party selling in line wit=
h a not dissimilar work in size and imagery that sold in London for the sam=
e price. Competition for Avery Singer=E2=80=99s work is easing and the resu=
lt is a new price point around $2 million (which remains a great deal of mo=
ney for a young artist.) Consistent prices for Maria B=C3=A9rrio continue a=
s collectors scour the market for her past work. One place an Asian buyer s=
eems to have benefitted from an aging market was in the purchase of Cecily =
Brown=E2=80=99s Eyes Wide Shut. The work had all of the earmarks=E2=80=94da=
te, size and color=E2=80=94of work that would sell toward the upper end of =
her pricing closer to the $6 million mark. As it turned out, $4.5 million w=
as a great return for a seller who paid $700,000 for the work 15 years ago =
and probably a good deal for the buyer.
Quashing Quarles Doubts: There=E2=80=99s been a fair bit of frustration aro=
und the Christina Quarles market since Sotheby=E2=80=99s set the spectacula=
r $4.5 million price for a work sold by Howard Rachofsky. That sale seemed =
to ride on the success of Quarles=E2=80=99s work in the Venice Biennale and=
Rachofsky=E2=80=99s stature as a collector. But a subsequent strong show a=
t Hauser + Wirth with asking prices above her previous record left observer=
s wondering whether a Quarles could sell somewhere between Hauser=E2=80=99s=
primary prices and Sotheby=E2=80=99s monumental secondary sale. The team a=
t Sotheby=E2=80=99s mostly delivered with a work estimated around her previ=
ous record price (and recent sales) that achieved a hammer slightly above t=
he primary asking prices and posting a premium price pushing into new terri=
tory. The $4.5 million remains an outlier. And it may take some time before=
the public markets see new prices that advance her market. Nevertheless, t=
he sale was welcome confirmation against the doubters.
Still room to grow and for markets to settle: Jacqueline Humphries' market =
continued to move forward with a new auction record at $850,500. The sale b=
uilds on a show at Greene Naftali in New York and a progression of prices a=
t auction in 2022 that supported her $687,500 record from a year ago. The e=
xpectation going into these sales was that artists like Humphries might be =
the most affected by collectors=E2=80=99 caution. Instead, the market now h=
as price patterns that help establish more confidence in her market. Someth=
ing of the opposite seems to have happened in Lucy Bull=E2=80=99s market wh=
ere the previous (dare we say) bullishness has pulled back some. Sotheby=E2=
=80=99s sold a Bull around the $500,000 mark a day after Phillips did somet=
hing similar. That may be Bull=E2=80=99s new price point even though works =
were recently selling closer to the million-dollar level. The only visible =
difference in Bull=E2=80=99s market was a New York show that failed to foll=
ow up on collector=E2=80=99s expectations. If Bull=E2=80=99s work has a new=
level=E2=80=94one that is still quite strong for a young painter=E2=80=94t=
hat may be more indicative of the conventional wisdom around her work than =
a new art market.
Contemporary Evening Sale (https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp=
04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0_3pdrrV1-WJV7CgS68W5hWL0c2dZ=
kTgW2T9Z7z8sD1jzW8FBQWn84Z9BrW1slGWb943VYLN7ZfSxM1GnT1W586j2v9hLRgYW5ZQbG67=
lFn-wVPbNRq5dXPQ1W5-g89Q7p9b15VC2Rj16vSPmSW8dHDL77QVRPjW7_PN2R7pfwJsW3blV20=
3z0jDRN5pmr7RDkNrrW4MhzK_5tYlrxW2w8kBR7fhVsHW6mhK-l72YPvNVjwdYj5nV5x_W25ZMz=
m7MyGbRW2zgx3r1zzq-BW95nlRy3QDS8DW6KS-LL8vRbR-VXwkWX4nbkXdW1g4nYn4YrZSY3dhb=
1 )
LiveArt After Action Report: Sotheby=E2=80=99s Contemporary Evening Sale
Total: $253,821,175 with 95% sold (37/39 + 1 lot withdrawn)
Composition of Results: 21% above/ 47% within/ 27% below estimates
Aggregate Low Estimate: $239,200,000
Aggregate Hammer: $231,090,000
Hammer Ratio: 0.97
Average Lot Value: $7,474,131
There are two art markets right now: It would be tempting to view Sotheby=
=E2=80=99s results as bifurcated between the higher-priced Contemporary mar=
ket with tepid bidding for the Warhols, de Koonings, Bacons and Basquiats (=
not to mention Boettis and Lichtensteins) and dynamic bidding for the so-ca=
lled =E2=80=9Cultra-Contemporary=E2=80=9D artists offered in The Now sale. =
After all, nearly half of the lots in The Now sold above estimates with str=
ong competition and only a fifth of the Contemporary works saw dynamic bidd=
ing. But a better distinction might be to suggest that there are markets wh=
ere buyers know what a good price should be and markets that are in need of=
price discovery.
Estimates are marketing tools: The success of The Now sale at a time when b=
uyers might be more expected to pursue a flight-to-quality strategy seems t=
o support that distinction. The conventional wisdom about the economy is th=
at a recession is approaching. Inflation seems to be abating but remains ve=
ry high. The kinds of works that will retain their value should be art by w=
ell-established figures. Yet at Sotheby=E2=80=99s very good works by the be=
st names were all sold at prices near or below the low estimate; however, t=
his is probably a function of estimates more than it is one of prices. All =
three de Koonings sold for prices in line with previous works (https://emai=
l02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3=
PbN7zrx0_3pdrrV1-WJV7CgZ_2W78D5gf6jL67fW3Vw4Qm89D8mxW6YS1bq2w4h9gN6J9yhMTS8=
JlW2Zfnr65DHrd7W8kVfPX59CppVN2GkDSMjC6k4N4K8nhNfGTvBW50hxyj5WL3SxW4fkgwZ3Qn=
FTJW79NL1M3XJcG3W7nvSYw4q72fmW17rD3z8qx-_tW607LDX5yjzRtW5kMkQh6LrQV1W2bSsBv=
7Zvy0BW6zZ6Hp6Zs5lkW91H9GW2fTdLHW8hYLtw6C0TfKW6ZNjwy3tQg6qW6WYZKm3pKd4nW8ml=
ywG2Gbsd6W7V93c64LYMblW2WwcQP2dY4mh3cp_1 ) . The Boetti sold for a record p=
rice even below the estimates. Francis Bacon=E2=80=99s Three studies for a =
portrait of Lucian Freud made almost exactly the same price as a similar wo=
rk from the Paul Allen collection. A Jean-Michel Basquiat silkscreen that h=
appens to be a rare large-scale editioned work sold for $3.6 million. Anoth=
er example sold two years ago for $2.9 million. That=E2=80=99s a 27% rise e=
ven though the work sold within the estimates. Collectors are buying qualit=
y but sellers already know the price that should be paid.
Managed boredom: Too much of the reaction to these auctions seems to be bui=
lt upon the assumption without wild bidding there is no art market. Instead=
, we=E2=80=99re seeing what might be considered a soft landing. It=E2=80=99=
s true that the economy remains stronger than corporate expectations. So th=
ese sales haven=E2=80=99t run into a full buyer=E2=80=99s strike where litt=
le sells. And the auction houses have become quite adept at deal-making in =
the days leading up to the sales which makes for boring theater but decent =
business.
Warhol, Where Art Thou? A final illustration of this phenomenon comes from =
the White Disaster painting that Sotheby=E2=80=99s sold for $85.3 million. =
The Warhol market has been difficult to read for the past few years. On the=
one hand, his imagery remains very much in demand if we use the prints and=
multiples market as a measure. One theory is that as more Warhols sell for=
ever higher prices, demand goes down into the prints which were made with =
a similar method and cost a tiny fraction of what the big works go for. On =
the other hand, Warhol=E2=80=99s auction record nearly doubled earlier this=
year. We speculated that the Marilyn sale would allow (https://email02.liv=
eart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx=
1h3pdrLV1-WJV7CgVdSW7kw29p3jy8kqW4KTQ6B9gH-FmW7nwYcV4MCLsbN7gCKcqjntZVN992j=
Pkg_WRLW5SYzyz4WVh41W7kdQbC8qfM7QW8VYFhH4pPl0jN71s-fZVR44BN7Qkq5FdJfntW7lKG=
Gs7HC4dSW3m22mF8QPCxBN3Qmn5m825JhW3BtF2W6VSCGQVNPJMY7wrFLWW26DfNs5wqTjHW3Q_=
xxz34vcFMW7lFGW-1wDh-2VCcZXd5Wpm-WW7ZpxMD4RY1hzW8ck0lS4L_P9RW4g-rqf51rrHBW5=
-D0Jl12YN2BW3xk-dg7S14ngW8rWC4f15xzG_W2L3z-c5qtsnJ34jn1 ) for more sales b=
etween the old public record of $105 million and the new one of $195 millio=
n. The White Disaster seemed to offer a good test case. Priced at $80 milli=
on, bidding to a selling price in the low nine figures didn=E2=80=99t seem =
out of the question. That obviously didn=E2=80=99t materialize. The seller =
may have been attracted by that potential but that doesn=E2=80=99t mean the=
sale did not do well for them. The work was acquired in 1996 before a majo=
r jump in Warhol prices. It=E2=80=99s likely the buyer paid much less than =
eight figures. The work was offered without a guarantee or an irrevocable b=
id. Sotheby=E2=80=99s team worked to line up buyers and just before the sal=
e, the seller took a third-party guarantee. In the end, there were two bids=
below the $80 million ask. Those bids were in line with previous large dis=
aster paintings. The sale surely netted the sellers a gain of $70 million o=
r more. That=E2=80=99s not bad for a quarter-century investment.
If this email was forwarded to you, sign up here! (https://email02.liveart.=
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qSV1-WJV7CgLnFV7D3zg27dj_yN4ty5r2N_HG5W3JRccZ565hshW8w-8C04_2JR5W63jz5B6YVr=
0sW4gS0kx1ZlNL-VC9LJ54Wqw0cW1Wntn05Sk0-WW24qtFQ80ln7bW4588Qm4g33CYW7vjDBD3v=
TCFTW1f8Fc33-9RjTW3XPZ6D2T6ZFdW3kw-618rCJbtW6z64SN31xthcW4lZctr9k2NpSVpCyDk=
5C9q-QW2QP0tw8pCxl8W64V5hC2NBKdhW1b73qq2hHP_x3b-T1 )
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n4-Gm-nW4ZZ7Cv1-vSDwW6cp-Qb2JQb9FW2SM_7F95wKSPN7GrBG0GdZqxW5g1T8853gbDp3pQw=
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=3D"color: inherit; font-size: inherit; line-height: inherit;" data-hs-cos-=
general-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_cos_wrapp=
er_module_16609334467646_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs=
_cos_wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; l=
ine-height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=
=3D"rich_text"><h2 style=3D"margin:0; mso-line-height-rule:exactly; line-he=
ight:175%; font-size:22px; text-align:center" align=3D"center">Sotheby's $3=
15m Contemporary Sale</h2>
<p style=3D"mso-line-height-rule:exactly; line-height:175%; text-align:cent=
er" align=3D"center">It wasn't an exciting night in the art market but it w=
as a solid one as Asian buyers kept the Ultra-Contemporary market going and=
a quiet flight to quality took place.</p></div></div></td></tr></tbody></t=
able>
<table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D"1=
00%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-ta=
ble-lspace:0pt; mso-table-rspace:0pt"><tbody><tr><td class=3D"hs_padded" st=
yle=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-family:=
Arial, sans-serif; font-size:15px; color:#000000; word-break:break-word; pa=
dding:10px 20px"><div id=3D"hs_cos_wrapper_module_16611714477982" class=3D"=
hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"c=
olor: inherit; font-size: inherit; line-height: inherit;" data-hs-cos-gener=
al-type=3D"widget" data-hs-cos-type=3D"module">
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=20
<td width=3D"auto" style=3D"border-collapse:collapse; mso-line-height-r=
ule:exactly; font-family:Arial, sans-serif; font-size:15px; color:#000000; =
word-break:break-word; line-height:0"> </td>
=20
=20
<td width=3D"30%" valign=3D"middle" style=3D"border-collapse:collapse; =
mso-line-height-rule:exactly; font-family:Arial, sans-serif; font-size:15px=
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border-bottom:1px solid #000000; mso-border-bottom-alt:2pt solid #000000; b=
order-bottom-width:1px"> </td>
=20
=20
<td width=3D"auto" style=3D"border-collapse:collapse; mso-line-height-r=
ule:exactly; font-family:Arial, sans-serif; font-size:15px; color:#000000; =
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=20
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=20
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left:10px; padding-right:10px">
=20
=20
<!--[if !((mso)|(IE))]><!-- -->
<div class=3D"hse-column-container" style=3D"min-width:280px; max-wid=
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collapse; border-spacing:0; background-color:#FFFFFF" bgcolor=3D"#FFFFFF">
<!--<![endif]-->
=20
<!--[if (mso)|(IE)]>
<div class=3D"hse-column-container" style=3D"min-width:280px;max-widt=
h:600px;width:100%;Margin-left:auto;Margin-right:auto;border-collapse:colla=
pse;border-spacing:0;">
<table align=3D"center" style=3D"border-collapse:collapse;mso-table-l=
space:0pt;mso-table-rspace:0pt;width:600px;" cellpadding=3D"0" cellspacing=
=3D"0" role=3D"presentation" width=3D"600" bgcolor=3D"#FFFFFF">
<tr style=3D"background-color:#FFFFFF;">
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<td valign=3D"top" style=3D"width:600px;">
<![endif]-->
<!--[if gte mso 9]>
<table role=3D"presentation" width=3D"600" cellpadding=3D"0" cellspacing=
=3D"0" style=3D"border-collapse:collapse;mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;width:600px">
<![endif]-->
<div id=3D"column_1664452814667_0" class=3D"hse-column hse-size-12">
<div id=3D"hs_cos_wrapper_module_16680816503781" class=3D"hs_cos_wrapper =
hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"color: inherit; =
font-size: inherit; line-height: inherit;" data-hs-cos-general-type=3D"widg=
et" data-hs-cos-type=3D"module">
=09
<table class=3D"hse-image-wrapper" role=3D"presentation" width=3D"100%" cel=
lpadding=3D"0" cellspacing=3D"0" style=3D"border-spacing:0 !important; bord=
er-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt">
<tbody>
<tr>
<td align=3D"center" valign=3D"top" style=3D"border-collapse:co=
llapse; mso-line-height-rule:exactly; font-family:Arial, sans-serif; color:=
#000000; word-break:break-word; text-align:center; padding:10px 20px; font-=
size:0px">
=20
<a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2=
xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0_3q3nJV1-WJV7CgFJQW6Bbn_=
555c5ZNW8V2vPy21MLPwW7spq_q21mssgW97TwVG7kPlBtW2rVCr66Q-_bqN3Vy2lG9H0t9W46n=
d2y5xxf08W7cQzNl6nNHT9W5FjDB37dq0TcW1TCtH76lhHcDW3JL4bJ1H2_CcW816rhb5-t9btW=
62zDsQ7Y_ftKW1GG5Mj35WJJqN7V06x4_26nLW60qzDK66kGkgN3Bp8GDnX15bW6zbyCc62mtYD=
W7YcgkW90R01lW3Nc3t658qMSPW5jJ7G99d9ws9W2JwzSt1XTSdMN3fPx11lqr_cV8RzR87PLm8=
m3m4x1" target=3D"_blank" style=3D"color:#00a4bd; mso-line-height-rule:exac=
tly" data-hs-link-id=3D"0">
=20
<img alt=3D"The Now" src=3D"https://email02.liveart.io/hs-f=
s/hubfs/The%20Now.png?width=3D1120&upscale=3Dtrue&name=3DThe%20Now.=
png" style=3D"outline:none; text-decoration:none; -ms-interpolation-mode:bi=
cubic; border:none; max-width:100%; font-size:16px" width=3D"560" align=3D"=
middle" srcset=3D"https://email02.liveart.io/hs-fs/hubfs/The%20Now.png?upsc=
ale=3Dtrue&width=3D1120&upscale=3Dtrue&name=3DThe%20Now.png 560=
w, https://email02.liveart.io/hs-fs/hubfs/The%20Now.png?upscale=3Dtrue&=
width=3D2240&upscale=3Dtrue&name=3DThe%20Now.png 1120w" sizes=3D"(m=
ax-width: 560px) 100vw, 560px">
=20
</a>
=20
</td>
</tr>
</tbody>
</table></div>
<table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D"1=
00%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-ta=
ble-lspace:0pt; mso-table-rspace:0pt"><tbody><tr><td class=3D"hs_padded" st=
yle=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-family:=
Arial, sans-serif; font-size:15px; color:#000000; word-break:break-word; pa=
dding:10px 20px"><div id=3D"hs_cos_wrapper_module_16644528093181" class=3D"=
hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"c=
olor: inherit; font-size: inherit; line-height: inherit;" data-hs-cos-gener=
al-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_cos_wrapper_mo=
dule_16644528093181_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_=
wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; line-h=
eight: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"ri=
ch_text"><p style=3D"mso-line-height-rule:exactly; line-height:175%; font-w=
eight:normal"><strong>LiveArt After Action Report: Sotheby's The Now</stron=
g></p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%; font-weight:nor=
mal"><strong>Total: $137,863,700 with 100% sold (22/22 + 1 lot withdra=
wn)<br>Composition of Results: 45% above/ 36% wit=
hin/ 18% below estimates <br>Aggregate Low Estimate: $2=
9,380,000<br>Aggregate Hammer: $37,030,000<br>Hammer Ratio: 1.26<=
br>Average Lot Value: $2,083,580<br><br></strong></p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>Asia to=
the rescue: </strong>The strength of The Now sale was the unexpected =
bright point of Sotheby=E2=80=99s evening of Contemporary art sales. The fi=
rm=E2=80=99s publicity department made sure to communicate that a key eleme=
nt of that strength came from Asian buyers and bidders. As with the Paul G.=
Allen sale, Asian bidders provided the swing money that can drive a work=
=E2=80=99s final price to something eye-catching. According to Sotheby=E2=
=80=99s, Asian buyers took home works by by <a href=3D"https://e=
mail02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4=
Sv3PbN7zrx059kJVmV7Wycr7CgMw1W82B7BR77Y443W81pvdV38Q3FJW6G3Lkv1Nx__LW5fTDnv=
1cZCkTN31zFy-Z126FW5ZndKP90-KmVW2MDDm_5D5zrGW4y7SqL3CpQhMMNh1ycltWtMW8Y3kjw=
8dVfPHW3P-PNC1McXZsW5kPWJ72x8KjyW8Y2x9v5fW4Q2W8pr-k748FwQBW2PvRh_50c8YxW6fw=
lnb3bhchLW70rBkc6ldPHVW4y6lLC4l1s8LW1F1Fxm8rKhhMW3kNyJr7tMg1SW7jDQwz7yR2WwW=
61FKSv2QkmC-W1-dlQP6pspQRMNBBZtznZ92W1zMYlV566pNLW6YZ8XR62GpQCW21bVqc4-99g0=
W60DKVp6vRfLDW6-hdxl7KcFK1VKLBNB5Zx-hpW22ZKDT6-JvgFN4X2rnMS_mlqVDky6W50r9Z8=
W6Yn49W2bXf6rVg-rGH4JkgyxW8PvBT45PsZSfW1yYR211DcDHDN6nfv35DgN7RW8bjxND1fBTP=
jN3cL3kxbJjFQW5Bm3N37TxKqwW8JpLMC3rcS2WN7ys6M4-JKYsMZB9_ZMnY8sW1Pb09K5_DJ9L=
N8lcPzBkBtKmW6-gtj72k8hjnW4c9Z6v2jLrq1W8XjkvJ1QjsZ2W2NbjSk2npNrGW856F8x2csp=
sCW1jmhcC8FS_xZW54DHKB4kcjK-W4C_Vg53qMT1wN6-_CZ93_F7gW6hrFgj7wGtj2W26DqdN7Y=
VhxVW1Nygns57gxKhW7HCxFC3YdPbzW17_8YF49sP-gW8W3tWK8bb2m6W8tc5mT5GrFkbN6ycH9=
-60JHQW7qV1BG6M_MY2W2SvPxJ2jDPmNVd4LzL3Xgcqp3cnK1" style=3D"mso-line-height=
-rule:exactly; color:#ff24ff" data-hs-link-id=3D"0" target=3D"_blank"><stro=
ng>Yoshitomo Nara</strong></a>, <a href=3D"https://email02.liveart.io/=
e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrw_Q9kJV3V=
7Wycr7CgHS9W4Lb0CT3nGgcJW1PdP6f16TbsbW4Pg4vx8lCRkSW5gQx_m55pCM_VsZ0kN4JNxJd=
W5fzkB66WH_GHW8Hc3sV7p81gdW2j6Hnf26kSGyW3fvDQk2XjnSbW2_V8Q_7dKfj0N1V58RFF-5=
k2W4NPY145kzqmJW41_2wQ4skyPyW2t7TtF8YN9z-W7fhp3z16SSNbN56QzbPxvlr_W1NDMWy9c=
CSZlW8Ncq4f7fCbPvN6QCtTrjr41GW6PM-6z1ts409W5Zy2l37SyYwMW19F3qy1NLD6vW4FLpdc=
7jYW8MW7BTpV843S_xxW9g8P9W3q2DrZVqnLjW3MclzdW68T1R67NKfJ5W8HYwR22BYXNtVJ9m1=
R59yLVlW72b29y4kF01-VkqtwX7LlnRKW5SRPBR3W1l9dW8J9jPf89gQJKW4lL7wq7jYGzPW53d=
Hsq27Z-k8W8gdLDr2CXFx-W6yNW_X2RDgYwW1r20P69ggYsKW22ncxh3mdpLbW6xFDZ53NCGLCW=
3yNfGy45GD-tW3YX61Z3GlyK1W9jgyrN6yQqFzW2C8hqH2bVS4kW6G4wph78Rf29W7m2QGy13HS=
1zW8XK92r8YYQ4jW5mJw5S9fFQdhW19QkRd5NGRfPW4VvQch1dYkfgW2T7B0-46gLWcW1628lx2=
lLfKYW9g370C5gQTJ3W7QF4nb2NYH8QW8X0G-w5MxTYHN2P-W-WfMTSVV7Cfzl56hHRRVgCZmR8=
24DrhW3Qqdjh5XM7PYW2tbJ5W7_KYGBW8mHRql12HlWpW5wC51_6xmBYqN86cG_DLBgyFW5LJCw=
z3Wyh9W3hLC1" style=3D"mso-line-height-rule:exactly; color:#ff24ff" data-hs=
-link-id=3D"0" target=3D"_blank"><strong>Nicholas Party</strong></a>, =
<a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW=
59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx059kJVmV7Wycr7CgKzZW58qnq88zNfcKW9kxPB198Wryw=
W2SbbnY2JFbg-W47j2sX4qVLMRW4Xrgp66xlyr4W32wdpy3p1rF3W4NXfF28Rk-ZWW5M5kYQ63g=
54qW5MnCzp8g2Y3ZW1t0fG062dRNFV6C21y6LsT_9W2kSrR38kxR2ZW6js3Cq3N-vyBVRsqgL5q=
G2CzW31pb6d8NxtBcW6pWgj060pMKjW433qML6BXR-GW5Fyw9q6HP1BVW7Z4_KM1Z0MSsW6FWgr=
K5zlnpyW54mGT43NYp6mW6LrD_68bN953N7SXrT9Jd93QW8fPhq75dD7tbW9fGctM4grm9RW14S=
dbN7RNQBfW3shl7W6QlF5FW7wByTN8YsBvbW3Pmgjk3pYGprN6r_V7nWb0w3W7yTkGV3b_ZZ_W5=
Sw6fw6tKHRLW2cRct16tT-yZW80CpT73N9gJnW8zwP6_7pC3V6W1x1s9c22z1qxW6t60zR4XwCQ=
3V2dV_d64GcFqVCmVcf2qjZHlW1jxnh14BhqxCVgRc3J2d8nZZW4y_y2F5vMW2pVWZFMq72GrBg=
W71XsyJ5357bDW7myNzv5TsCVRW6qhx0D18J58xW2XcmhF8gVg-dW99khRp5MVY--W5yrScH5Ds=
j76VZ4fmk5_N_xpW5Pg2KF5kLrqWW6LWGgh2dVz7fW60TlG-2SHFNTW7Plt3h4NMflwVpsFJR74=
0RmXW148ssQ4ZDqkXW1NlbnY7C4VPhVYt6Sb24sz2zW1T5F5S7VHrgNW66C4dC9j55khW6T4DkC=
4Sg4FcW3dzTwr2z2l1GW7CpNZm5kDdVDW4x-wtX4-xmhcVDnVcq8VKVw3W1qFxTZ5wSv5X31Tl1=
" style=3D"mso-line-height-rule:exactly; color:#ff24ff" data-hs-link-id=3D"=
0" target=3D"_blank"><strong>Salman Toor</strong></a>, <a href=3D"http=
s://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4P=
tzZh4Sv3PbN7zrx0J9kJVZV7Wycr7CgV8KW8kWVmp3sp8ZZW5MCJC67qKhHQW7_jqR55CYPzhW2=
Cp-l48kqvTLN83YSwbrrj8jW7BshFH7z2nmxW4D9qFf1y20k7N6MNJ2XJMbftN1QfmtVFxb8SW6=
f9jvG5WY5TDW88Nm263x6pk7W5YTm_v2SbC1JW3NQ-7_48WJHwN2d8dTMjZ7g6W2GMmkm4312lQ=
W89D1RD5pc0ThW62xhFK4F_LChW65Szrc3_m61tW1fY51-5bLG5dW9fG3qN4G90-MW4jp43H3N7=
ZFsVDTlB_4r0Y_MW3tbvd439MsK5W3-PCZq1ldBFJW8bCjnK2NnfBjW8pHg5161f0CfW1g4T8l5=
xWRCbW33ryvG4h87kMW7C9tBL2svf0TW82k8Q-1y2S2qW3p_FxJ6XxRWpW5qSd-d1qgzTmW2FGP=
hP8qdd__W5_J_2m93CpbGW3CSftt4WDn4DW5h5z8B6bMLS4W5Y1K8P7HZlvKW8qT3Dc7kX57jW3=
_VqBQ226CgjVvzLvY27Z7G8VjbmTp6Tvm0GW59lyZ_5K0pTMW4mbwyv6vq1NnVPVpfm5YnDm3W1=
hDntQ6PhSTFW2Wkn8p82k7c3W4zcXYt1kKyjTW2lnkvz9j_Y-QW89m0Gl8x3k9SW8YRSHb3SvDJ=
9W78scV12NtrYGW7kl3Fw4lvNbxVMWWKS2Q4JpWW2v2jPt2gzZGsN5xH7MZygGxRW2cvjJg88CP=
yGW1f0n7077lzKfN74-b-8zvc6lW4dR94R75cYcHW5djQ433d8x62N3-S9Jwx8VdzW94nBqb858=
PbfW13DsYl5-KqRrW6YH3vm6c_qCzW1qsd3142bx1YW3lqQVL7fQYc0W421HNv3ph_htW7DvfrC=
9lxYH3SQLT3w6qrgN5vYcMcPktPK3cCK1" style=3D"mso-line-height-rule:exactly; c=
olor:#ff24ff" data-hs-link-id=3D"0" target=3D"_blank"><strong>Cecily Brown<=
/strong></a>, <a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2x=
Bdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0J9kJVZV7Wycr7CgHSzW7mzYn3=
1KgFhJVnvjKr8mP3L6W1dD-Lt5fbR4qW6TFfTd164mhvW77x1Y08ljvyKW5fcyHP3ZSgkDW7-J9=
m_6HYkpYW3PWY174VVvH5N18dTsG73RTQN1FzfqzypbHwW8qPqxl30T38mW9bZdhN1HV-tZVFj4=
TV8_F0YdW1xMZb814jH_SW1KrblY1BtkRWW5v2Xh14jDgRwW3L2CfK4DjbNcW50XgJN589lc3W4=
B7Hhp5ys5TLW8SVDYq4v5LDhW46zKlj3B-N0mVThCHw4vDmMRW8Rh6ZY2lHyJkW96KP5Q2RcNPl=
W7hytZ32DZ3TdN1RqtrRp1jVqW32Wv8V7Rlb50W18v5X_3V0N39W1GDth095_tSXW3YrVGW5XYk=
hcN4GFF-w9SFGQW2vW1Py4ysBkwW7msn_K3K_xQGW7XFVTN5V1TylN1lGBpFHQktXW8pWY4S3yq=
L66W1ksJR38LFXFnVKQmb39lnXx6W8FXxg_2Tt2FYW7TQqrs26TCT0W3FY0JD7pXf2tVY48zz2g=
bc_nW4tcFBy859fFzN2djqhyrP-cQW89St0h1r43kwW7Ks2GL4K5WVhVDMhFs7j8-dzW1vZD4c4=
YjpT3W4XlDF-6lpLRfW55-L832qRyJNW1V6nDn1xXN7qW3kcFKj2qrTxcW8BfymC1mmKp1W8K2k=
Cy40k_67N4hlPxwt3wT9W4c6xC-9lB7HmW65MS_k6_wkQdW42nGCq3cjDm7W1kD7z94RBYj7W1M=
Vp4Z6DwxyJN26LJQFTSwlVW8PMM7r2zs9YzW7Ff7cb7cLFbKW72KgrG1BBYHcW6N3v_j49Dc90V=
xfM5M3Ks--nW7Vjs617LT341W8wLhlG5tWXg_W1wlnqD4mQbklW94NnDB3m6Ll-39_V1" style=
=3D"mso-line-height-rule:exactly; color:#ff24ff" data-hs-link-id=3D"0" targ=
et=3D"_blank"><strong>Maria Berrio</strong></a>, <a href=3D"https://em=
ail02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4S=
v3PbN7zrx059kJVmV7Wycr7CgSkPW6mPRyw7GMX44W4M-8R02C_VTDW7t0TBg8_rHB_W6-bcSw1=
S6dzGW5nCYc_2NxvyPVS1xQj33Wth0W2v3Fh94xC8KvW3VX6lg6kXbqxW5kTTSK1Kc0ZdW4XBSH=
G4yWC8JW8lvBN99cw2WyW4HjzhC5rm_NdW6j6W4s46Wz5gW2vGgHR5Ww29PW15KC4M2dR-3SW4b=
-LC81gRv8sW2SCV1x57Js_kW7S7DDh4B88ndW4rp9pc5vZQxQW41p1M13d-jgpW7xXJc67q6QJK=
W968hnY4vR2YTW1BytWp1jv1z1W3vMcs07SrvmKW5CGnhR4zCS9NW1TSnJQ7fvH8_W4SsRzp6HZ=
s52W1_52Bv91-qs8W4gtgtK67h1zXW5j6Bxt5ZBvXrW2hh08B5cCnpYW6B3Ycy7Kw_cRW28VZwn=
4_lrPRMXlxY7sYS5MW763c5q2Gj2KlW5xJlhz3CN4yrN2qrnMWYts5yW4CLqDc2_F9dDW2JsPXZ=
68VHrbV3TGNw6PvqG6VHHFr-3rkhCfW7Z01Wn2ZYbyTW5GW8g410xW4fW5YnnG_1RJTvnW5X_JD=
K2jWH2CW5dCLrY7XjgvMVqVHV82D2W7zW8BM5R38K-lztW155_7X8xcxKgVd4zCC4bB_FWVZt1R=
h8Xs_2jW17tvSV1-Y3rYVWLxmp1wXJclW23hFHY55mBZFW8TLPdH51XR_pW4vqM72771QHVW66F=
dkl2vL4nsW3tPzlv1VwMCJW4lwHfb7L8lcLW5JBWfm4cFySHW4PXTqq7h8gzRV5y7y478gvDTW1=
-WSjv4VTMz_W3DgtnW7-_bhMN7M1C2n_xyZTW8_6dMs3Jd2q436vg1" style=3D"mso-line-h=
eight-rule:exactly; color:#ff24ff" data-hs-link-id=3D"0" target=3D"_blank">=
<strong>Christina Quarles</strong></a>, <a href=3D"https://email02.liv=
eart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx=
059kJVmV7Wycr7CgGHFN50WPVrmnqLMVDw4vG5MBMwxW3HnSxm2LhR7NW3v9plK8B7L9lW3yg7k=
j92tP7YN7yr1LcBmsjXW6x5rtz3-VN1SN8zLvQ9F8DHRW4QZdSx5-6YbJW569HNf61DhXpW3bTF=
Bw7kCbjhN28v2l7-LQyxW8S2d9w66xkJwN4_9DNJNW1fNN8K2G2tTVt-TW1jTrp71BC2xMW16RR=
9Z56tXzjVmZnvk1JcFvsVnTZK21k7N_VW2LSBD_5_lL7LW7t8Gf63KzPj_N4pk003K2lLVW57Bg=
Sl8_Pk1fW2j75CF8tbq8rW7rjtg66-DKMlW16203V51TxbxW9gyfjG5jW9ZNW7cQPq94fNNQtW7=
bhlTX2y-DvCN8SnzcYv-91cW8dwZLw3zGZhBW1m01R48bQ8F2W5KFh5c4lkF32VVLcVQ7dsptsW=
5RtCcj8hj6RWW7QtzKm6ZZ73xW5lX-HH66qgCXW2MYxxX3Wv47HW3DN9W69fpvDDW6Gfdly1MHq=
VpW7kR6Q58vmjZxW3r4Yd77qztslVH17L088BMCJW4xPv5q6hpqrKW6HJsKx93rxxXVHH3vy7rc=
MxNW5q6rZL65CxvxW86lYv212DXbDW3VbJbV960hgTT5pg47Zk2TWN5rTdxg7d8pSW2RP23W7s7=
R58W3Z1lCC3Vs9GKW8HK63Q3NwmjdN88Xsf7bm8GZN7_QZYVT4csKW93wb7L77nHnTW3Dg4ht1c=
8h8-W7rG6p12Rxg6kW7JF5jB61zS21W2jxbjj42tDCRVzlKZn8cX4v_W2d8bGv556JvfW4jG0-q=
7MKsTcW5kyHgB8L0DgmW6tZw5y2Q87qq3k9m1" style=3D"mso-line-height-rule:exactl=
y; color:#ff24ff" data-hs-link-id=3D"0" target=3D"_blank"><strong>Anna Weya=
nt</strong></a> and <a href=3D"https://email02.liveart.io/e3t/Ctc=
/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrw_Q9kJV3V7Wycr7C=
gNTdW4L38Z03KrCwmW12Bsrv5kH91MN58rvsjXzYyXW3L9QTF3wkwrWV2xfQx5vYBcLF45LZyxJ=
Z8RN2vNb12JsXNYW6r6NlW3FKLGYW7CF8Xd7QhF_JW8Z1pry3Qb1rSW4zxcMT1ybH1LW7BmGcH6=
Bp2bTW4_LjjP4KzJG_W2rwDj1188P9lW5mqdHf6KYPdvW7T1qH85rfKTKW8pCxkx3-Z2QFW5G9P=
gb57qlyYW3lWfCC7PbLhZW8Vn4SF2jkh7YW68wv8f3B7jH4W528Pd25lh7dKW1RYX9X5d-G1BW4=
4kwmZ1MTB2BW2yJmLh9jKpMdW2k13cw6YG5S2W8KzpzP739wJwW6lXRX84ct37qW68DYjw3Lv_H=
kW3rWLtN6cqJy_W9ddgqY7t1tfdW3h0yKm2qhBPvW4Q91_s11MgJgW1kzBD_8DLNN0W3_xsm614=
vZS_W8ZMpyy7ZwBjbW18q9bC2_7sCRW65hm8b6kHCkHW8QVgdy6sbpyhW8SwRn57JcY3DN8XS9z=
9bx9Y7W4TD8Vs5VKqD0W3YV6TL8qkzmSW73RPBv8sFQbHN1NpDg3gJ4x7W2QSb6081S5qFW7fsd=
JM2psQDhN6DCKJfBw0p8W8yByB036RhHdW5HQvQJ1yXmp5W2fgHlj5_RmDfW76XYYp10hhhVW3r=
SkJj74wgm1W3zZcWG6NXp57W8nf9Ny40LfM1W3HxJMd1QfQJbN7HvnbBygJQYW1Fpd8Z7_sNXJW=
4dfPfr2Jq8dZW4-XKC31pJtZ_W8KyxP44TsG3FW2Xp3cV7Pmj4QW8SBzJR8FBvR-VGf6yF8MwY5=
N3mZ31" style=3D"mso-line-height-rule:exactly; color:#ff24ff" data-hs-link-=
id=3D"0" target=3D"_blank"><strong>Avery Singer</strong></a>. Those lots ac=
counted for half of the value of The Now sale. Asian bidders were also acti=
ve on almost half (45%) of the lots, including the (<a href=3D"https://emai=
l02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3=
PbN7zrx059kJVmV7Wycr7CgP27W6wwNJ-7JdFb2W4hM-6B78GWkqW2L42gg1HH3rGW8dpqz-9fY=
ZsMW3Lbmcn46yTspW3JfhMT6J3C6sV3XqRh4XwrcTW10srNs29jvJ5W8xmtg039qgM6W89rS5t6=
845SrW5SqVrL1TtT52W8_pRNm2CC2FLW2sw3tX3mB54WW2d9fTh3gJMRFW8G_NjB63NN1fW3-3X=
pJ1k98R2W1RG9Sc4TrvwPW1qYMtM7w-1hKW2BCN6368TD3wW2t27Gq8yC8yZW27VfQj85Q5VvW1=
3vF484tRY1KW6gg7Lt8_fZtKW8YsF1D3Yw7YgW3MmkSS4JpCssW1v7t1B5z8PBKW67btB_7yLRx=
TW1SvWM66vjMsQW1wcWyH3L6KHyW41TxwM6BlMpfW9j0z946r2jFmW6yQfqg81-PfcW5YQBRP18=
wzQ-N1-Kf0lF8PkzW99d88m7SMl2fW38Nt3F9kZRxrW11k9cF36S2HRW3-CBB06xlMKsW1TRGfQ=
4hlzWlW8GWgTs7RpX9YN32-26B-B_6mN21P2FqDsTn3W93ffML4ckRjhW7lLyKJ911xsjW4JdlM=
z3nzGjhN9lCHvQ78_RFW1gMy4x4FhwJpW5gWcTH2x7-C4N63Mgvk5_wWSV8XFlP8lrW51W5Tn23=
w3B4RT-W4Yn-c18B5Db7VLV89w8pGT33W2BWqyJ2w8rKBMlrMHTr-Yv4W8BvDWf1MtFhDW3gZsc=
y7QVTNwW2BP9Z54Nc6lkW5tpnGp1vRckjN625Z5vjDQQRW8GF_NY4wyFCQW4PQccL1XkHs7W3Fy=
B5n1XVfJDN4gVkH_vcPgQVJCd1p6dYQbLVGxPC43ldPxF2H01" style=3D"mso-line-height=
-rule:exactly; color:#ff24ff" data-hs-link-id=3D"0" target=3D"_blank"><stro=
ng>Louis Fratino</strong></a> and <a href=3D"https://email02.liv=
eart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx=
0J9kJVZV7Wycr7CgYLLW3xXl8l8sjh8SW858xfS25_sRmW6L4zpd6g489GVRB8KH88CT1kN2CSC=
-wcSGF5W7P0wLn2xm5fTW2XXsLm3PS4l0W7KcV5R2T600nW2sY2pQ889RXfW6-RvGt7WxKprW77=
qCHW8BqWH-W3ZGd1p8QDq5CW1VR2hz6LPD9xW5bcGmw3t840MW4jbp9M6nJ7m9N2wTNQ-PzK48W=
7HQPp34VT-W2W2nJ_Zv5zQhgmW6WsCgJ6D-dC2W64_V9X4qFyBqW7PRtMd95bk0VVR6RFx2qBkM=
nW6k7X0c7pQdhYN2TppQnX5kgrW7nJK2L8HjW5GV2rNHf46ctfJW4rRcRL85gtDzW8wKHp54rSx=
ywVs4Wqh4mdzT9W819Lfv5tKTmGW1y07gJ8N6q6nW3SpyG12KGwY2W1tw0JP6sh_jBW6j7RDj1R=
KLkyW4l4x1-72YkrxW6YQsNP7GTqvqW1P7Fry8B2179W4JylR_19pZN9W5f3Z-s1t1kVxW7V5gn=
Z77Yg6nW7YY4Zq1GNZhHW6yVnnb8GZMZDW8zCVdt7cnxYKW8Y8Q2k2VT3LcW8sJMTr5h5hLWW8X=
fjkB6vdvpLW6dm8LC5vZ_tJW9hb4Z_4xV_5pW1lkv6k5vjBtGW7yWmHv3_b6-7W649TDY5-Drdt=
W4c74cJ1tCPzHVgxNDW7pDZzdW1JTg0h7wwpZ9W1H-7rP10yQLsVkdWnK46ylzNN2bZXDh2Nk0R=
W61Z8-H6W3LSpW1BgCYD2zMx7_W8Td4pY1LhwLXW35h3yb74RHzrW3TzQzj6Lm4jyV5YW-w8K_y=
sWW1CxyzF41FTSbMzfP0Wvv0NwW4g7k4W3z-DZFN6zwNBtsPbD6W6gxSsL7bWchzW7FlLl586L2=
mSW4lYnWc1K4_rN37_l1" style=3D"mso-line-height-rule:exactly; color:#ff24ff"=
data-hs-link-id=3D"0" target=3D"_blank"><strong>Julian Nguyen</strong></a>=
).</p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"> </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>What As=
ian buyers took home: </strong>The <strong>Louis Fratino</strong>=
doubled the artist=E2=80=99s previous record price=E2=80=94for a less=
explicit work=E2=80=94to sell for $730,800, a clear signal that some marke=
ts with momentum will continue to rise. <strong>Salman Toor=E2=80=99</=
strong>s echt image=E2=80=94the painting that starred in his show at The Wh=
itney and appeared in many of the press reports=E2=80=94also doubled his pr=
evious record giving his market a second wind. <strong>Julien Nguyen</=
strong>=E2=80=99s second big sale at Sotheby=E2=80=99s would seem to be jus=
t the beginning of a market run. <strong>Anna Weyant=E2=80=99</strong>=
s market continues to solidify around subject matter with <em>Girl Cry=
ing at a Party</em> selling in line with a not dissimilar work in size=
and imagery that sold in London for the same price. Competition for <=
strong>Avery Singer</strong>=E2=80=99s work is easing and the result is a n=
ew price point around $2 million (which remains a great deal of money for a=
young artist.) Consistent prices for <strong>Maria B=C3=A9rrio</stron=
g> continue as collectors scour the market for her past work. One plac=
e an Asian buyer seems to have benefitted from an aging market was in the p=
urchase of <strong>Cecily Brown</strong>=E2=80=99s <em>Eyes Wide =
Shut</em>. The work had all of the earmarks=E2=80=94date, size and color=E2=
=80=94of work that would sell toward the upper end of her pricing closer to=
the $6 million mark. As it turned out, $4.5 million was a great return for=
a seller who paid $700,000 for the work 15 years ago and probably a good d=
eal for the buyer. </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"> </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>Quashin=
g Quarles Doubts:</strong> There=E2=80=99s been a fair bit of frustrat=
ion around the <strong>Christina Quarles</strong> market since Sotheby=
=E2=80=99s set the spectacular $4.5 million price for a work sold by Howard=
Rachofsky. That sale seemed to ride on the success of Quarles=E2=80=99s wo=
rk in the Venice Biennale and Rachofsky=E2=80=99s stature as a collector. B=
ut a subsequent strong show at Hauser + Wirth with asking prices above her =
previous record left observers wondering whether a Quarles could sell somew=
here between Hauser=E2=80=99s primary prices and Sotheby=E2=80=99s monument=
al secondary sale. The team at Sotheby=E2=80=99s mostly delivered with a wo=
rk estimated around her previous record price (and recent sales) that achie=
ved a hammer slightly above the primary asking prices and posting a premium=
price pushing into new territory. The $4.5 million remains an outlier. And=
it may take some time before the public markets see new prices that advanc=
e her market. Nevertheless, the sale was welcome confirmation against the d=
oubters. </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"> </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>Still r=
oom to grow and for markets to settle: Jacqueline Humphries</strong><span s=
tyle=3D"font-weight: normal;">'</span> market continued to move forwar=
d with a new auction record at $850,500. The sale builds on a show at Green=
e Naftali in New York and a progression of prices at auction in 2022 that s=
upported her $687,500 record from a year ago. The expectation going into th=
ese sales was that artists like Humphries might be the most affected by col=
lectors=E2=80=99 caution. Instead, the market now has price patterns that h=
elp establish more confidence in her market. Something of the opposite seem=
s to have happened in <strong>Lucy Bull</strong>=E2=80=99s market wher=
e the previous (dare we say) bullishness has pulled back some. Sotheby=E2=
=80=99s sold a Bull around the $500,000 mark a day after Phillips did somet=
hing similar. That may be Bull=E2=80=99s new price point even though works =
were recently selling closer to the million-dollar level. The only visible =
difference in Bull=E2=80=99s market was a New York show that failed to foll=
ow up on collector=E2=80=99s expectations. If Bull=E2=80=99s work has a new=
level=E2=80=94one that is still quite strong for a young painter=E2=80=94t=
hat may be more indicative of the conventional wisdom around her work than =
a new art market. </p></div></div></td></tr></tbody></table>
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tly" data-hs-link-id=3D"1">
=20
<img alt=3D"Contemporary Evening Sale" src=3D"https://email=
02.liveart.io/hs-fs/hubfs/Contemporary%20Evening%20Sale.png?width=3D1120&am=
p;upscale=3Dtrue&name=3DContemporary%20Evening%20Sale.png" style=3D"out=
line:none; text-decoration:none; -ms-interpolation-mode:bicubic; border:non=
e; max-width:100%; font-size:16px" width=3D"560" align=3D"middle" srcset=3D=
"https://email02.liveart.io/hs-fs/hubfs/Contemporary%20Evening%20Sale.png?u=
pscale=3Dtrue&width=3D1120&upscale=3Dtrue&name=3DContemporary%2=
0Evening%20Sale.png 560w, https://email02.liveart.io/hs-fs/hubfs/Contempora=
ry%20Evening%20Sale.png?upscale=3Dtrue&width=3D2240&upscale=3Dtrue&=
amp;name=3DContemporary%20Evening%20Sale.png 1120w" sizes=3D"(max-width: 56=
0px) 100vw, 560px">
=20
</a>
=20
</td>
</tr>
</tbody>
</table></div>
<table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D"1=
00%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-ta=
ble-lspace:0pt; mso-table-rspace:0pt"><tbody><tr><td class=3D"hs_padded" st=
yle=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-family:=
Arial, sans-serif; font-size:15px; color:#000000; word-break:break-word; pa=
dding:10px 20px"><div id=3D"hs_cos_wrapper_module_16687014265212" class=3D"=
hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"c=
olor: inherit; font-size: inherit; line-height: inherit;" data-hs-cos-gener=
al-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_cos_wrapper_mo=
dule_16687014265212_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_=
wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; line-h=
eight: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"ri=
ch_text"><p style=3D"mso-line-height-rule:exactly; line-height:175%; font-w=
eight:normal"><strong>LiveArt After Action Report: Sotheby=E2=80=99s Contem=
porary Evening Sale</strong></p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>Total:&=
nbsp;</strong>$253,821,175 with 95% sold (37/39 + 1 lot withdrawn)<br><stro=
ng>Composition of Results: </strong> <strong>21%</strong> ab=
ove/ <strong>47%</strong> within/ <strong>27%</strong> =
below estimates<strong> </strong><br><strong>Aggregate Low Estimate:&n=
bsp;</strong>$239,200,000<br><strong>Aggregate Hammer:</strong> $231,0=
90,000<br><strong>Hammer Ratio: </strong>0.97<br><strong>Average Lot V=
alue: </strong>$7,474,131<br><br></p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>There a=
re two art markets right now:</strong> It would be tempting to view So=
theby=E2=80=99s results as bifurcated between the higher-priced Contemporar=
y market with tepid bidding for the Warhols, de Koonings, Bacons and Basqui=
ats (not to mention Boettis and Lichtensteins) and dynamic bidding for the =
so-called =E2=80=9Cultra-Contemporary=E2=80=9D artists offered in The Now s=
ale. After all, nearly half of the lots in The Now sold above estimates wit=
h strong competition and only a fifth of the Contemporary works saw dynamic=
bidding. But a better distinction might be to suggest that there are marke=
ts where buyers know what a good price should be and markets that are in ne=
ed of price discovery. </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"> </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>Estimat=
es are marketing tools:</strong> The success of The Now sale at a time when=
buyers might be more expected to pursue a flight-to-quality strategy seems=
to support that distinction. The conventional wisdom about the economy is =
that a recession is approaching. Inflation seems to be abating but remains =
very high. The kinds of works that will retain their value should be art by=
well-established figures. Yet at Sotheby=E2=80=99s very good works by the =
best names were all sold at prices near or below the low estimate; however,=
this is probably a function of estimates more than it is one of prices. Al=
l three <strong>de Koonings</strong> sold<a href=3D"https://email02.li=
veart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zr=
x0_3q3nJV1-WJV7CgDPBW94VS7t3DlC8SVkmxgN6hmpSzW1bGGzv9f2TFpW797-Yr1FvwdyW80P=
PHX8z_RqzW7lTpXG4s-VrWW5TKT4S4tsf1WW8x62TQ93pfm4V-Lt0B7nMfK_N80BLRS31f41W4L=
k8G-3jq0qCW291p8y66gVl5N2cSfYRcvnr_W5xzNWN309NKjW6KvGRD4MBZ79W3Wgk6B1QZW5wW=
8K13JN1rTBwdN1d5Wpt2pQ8nW6D8Pvb73hyWNW3KR88v95L07dW7BZv9L7K65hCN1ZJ_XHq1Gcg=
W597YDZ3SFn02W4W5xld1vfyQs3nb11" style=3D"mso-line-height-rule:exactly; col=
or:#ff24ff" data-hs-link-id=3D"0" target=3D"_blank"> for prices in lin=
e with previous works</a>. The Boetti sold for a record price even below th=
e estimates. <strong>Francis Bacon</strong>=E2=80=99s <em>Three s=
tudies for a portrait of Lucian Freud</em> made almost exactly the same pri=
ce as a similar work from the Paul Allen collection. A <strong>Jean-Mi=
chel Basquiat </strong>silkscreen that happens to be a rare large-scal=
e editioned work sold for $3.6 million. Another example sold two years ago =
for $2.9 million. That=E2=80=99s a 27% rise even though the work sold withi=
n the estimates. Collectors are buying quality but sellers already know the=
price that should be paid.</p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"> </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>Managed=
boredom:</strong> Too much of the reaction to these auctions seems to=
be built upon the assumption without wild bidding there is no art market. =
Instead, we=E2=80=99re seeing what might be considered a soft landing. It=
=E2=80=99s true that the economy remains stronger than corporate expectatio=
ns. So these sales haven=E2=80=99t run into a full buyer=E2=80=99s strike w=
here little sells. And the auction houses have become quite adept at deal-m=
aking in the days leading up to the sales which makes for boring theater bu=
t decent business. </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"> </p>
<p style=3D"mso-line-height-rule:exactly; line-height:175%"><strong>Warhol,=
Where Art Thou? </strong>A final illustration of this phenomenon=
comes from the <em data-stringify-type=3D"italic">White Disaster</em>=
painting that Sotheby=E2=80=99s sold for $85.3 million. The Warhol ma=
rket has been difficult to read for the past few years. On the one hand, hi=
s imagery remains very much in demand if we use the prints and multiples ma=
rket as a measure. One theory is that as more Warhols sell for ever higher =
prices, demand goes down into the prints which were made with a similar met=
hod and cost a tiny fraction of what the big works go for. On the other han=
d, Warhol=E2=80=99s auction record nearly doubled earlier this year. <=
a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW5=
9nWHY1P8jP8W4PtzZh4Sv3PbN7zrx1h3q3n_V1-WJV7CgXBgW2GqHWD210Z9-N2HmmW131zBjW2=
PLKJZ2ym95jW3GR7hp2KZ4thW3RR8CL54gNynW2zZyBs18h4npN26wjLGLmFSHW3-hgMS3V_xPC=
N3qlm6bghQDVV6v1h33mrP76W7XSLdH82B7q6W9gBVM02SqFS_W8TL1bL1bYt4-W1WRF665pFZR=
mW2Qh-yG1w1Bq3W6pKD4x2c4s2xW77McjG6CYHBHW7b0kTz8SKdMgW4Qdvhy7NHds8W57631s2t=
R5vBW1S4t931qcbTnW77fkYJ1WjV8tW1n7tRs15VRsCW25dCrT1gT2PbW6Tx2cl1lNwKLW6CQWP=
t49s8R33gqN1" target=3D"_blank" rel=3D"noopener noreferrer" data-stringify-=
link=3D"https://issuu.com/liveartmarketmonitor/docs/liveart.io-warhol-repor=
t-final" data-sk=3D"tooltip_parent" data-remove-tab-index=3D"true" style=3D=
"mso-line-height-rule:exactly; color:#ff24ff" data-hs-link-id=3D"0">We spec=
ulated that the Marilyn sale would allow</a> for more sales between th=
e old public record of $105 million and the new one of $195 million. The&nb=
sp;<em data-stringify-type=3D"italic">White Disaster</em> seemed to of=
fer a good test case. Priced at $80 million, bidding to a selling price in =
the low nine figures didn=E2=80=99t seem out of the question. That obviousl=
y didn=E2=80=99t materialize. The seller may have been attracted by that po=
tential but that doesn=E2=80=99t mean the sale did not do well for them. Th=
e work was acquired in 1996 before a major jump in Warhol prices. It=E2=80=
=99s likely the buyer paid much less than eight figures. The work was offer=
ed without a guarantee or an irrevocable bid. Sotheby=E2=80=99s team worked=
to line up buyers and just before the sale, the seller took a third-party =
guarantee. In the end, there were two bids below the $80 million ask. Those=
bids were in line with previous large disaster paintings. The sale surely =
netted the sellers a gain of $70 million or more. That=E2=80=99s not bad fo=
r a quarter-century investment.</p></div></div></td></tr></tbody></table>
</div>
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left:10px; padding-right:10px">
=20
=20
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pse;border-spacing:0;">
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<table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-=
table-lspace:0pt; mso-table-rspace:0pt"><tbody><tr><td class=3D"hs_padded" =
style=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-famil=
y:Arial, sans-serif; font-size:15px; color:#000000; word-break:break-word; =
padding:10px 20px"><div id=3D"hs_cos_wrapper_module_16685213300681" class=
=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=
=3D"color: inherit; font-size: inherit; line-height: inherit;" data-hs-cos-=
general-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_cos_wrapp=
er_module_16685213300681_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs=
_cos_wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; l=
ine-height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=
=3D"rich_text"><p style=3D"mso-line-height-rule:exactly; line-height:175%; =
text-align:center; font-weight:bold" align=3D"center"><span style=3D"font-s=
tyle: italic;">If this email was forwarded to you, </span><a href=3D"h=
ttps://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8=
W4PtzZh4Sv3PbN7zrx0p3q3n5V1-WJV7CgWK-W7S9kp-1rZxRRVv3qFb94TdC5W1tKSfv4FZfjN=
W248KzZ8_FTX7W2rSQ2C5vTzhKW7p7gF_83MmzxW3dJPdz55fDH2W26gJdx8hwNvtW1dcTF_8mv=
bvhVBT_L58fZYN2W20DcDG5sc6lJW6Djh4C4g8MkyW3ljxj85Cg2nbW287HtV77Z3cDW8ktmqS8=
mY8VWW1fGKwP4q8dZ8W76xdjm6108T6V__V1N6xxqcdW6qfP8p218ZblN60zyP3V4S1f32gc1" =
target=3D"_blank" style=3D"mso-line-height-rule:exactly; color:#ff24ff; fon=
t-style:italic; font-weight:bold" rel=3D"noopener" data-hs-link-id=3D"0">si=
gn up here!</a></p></div></div></td></tr></tbody></table>
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adding-right:10px">
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table-lspace:0pt; mso-table-rspace:0pt"><tbody><tr><td class=3D"hs_padded" =
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y:Arial, sans-serif; font-size:15px; color:#000000; word-break:break-word; =
padding:10px 20px"><div id=3D"hs_cos_wrapper_module_16614615803261" class=
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<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
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Z80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0p3q3n5V1-WJV7CgQ53W3-vzpw2Rxq6MW84gW=
yB18-Dr9W46t2hF2YQFVzW1WBVXZ1wRdLYW4lCsdC6j1Y7vW41bnYF5b8lcdW73lLT06my9P1W3=
szp1P6vpXFGW3bGNwh3BymrtW7mSyvR556JBSW2xH16j8yRXnfW6h68Fp1w1bq6W3bVjck8tNQ5=
ZW2dbC_T8HgmbNW4w2DzB4YP-wqW302dbX1GJzkDW8MGNmb6PC3X1N8K6zV192t6VW7xx-kW9hG=
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ck" data-hs-link-id=3D"0">
<strong style=3D"color:#FFFFFF;font-weight:normal;text-decoration=
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</a>
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<td class=3D"social-network-cell" style=3D"border-collapse:collapse; =
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<tr align=3D"center">
=20
<td class=3D"display_block_on_small_screens" style=3D"border-=
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line-height:1; vertical-align:middle" valign=3D"middle">
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to">
=20
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=20
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=20
<td class=3D"social-network-cell" style=3D"border-collapse:collapse; =
mso-line-height-rule:exactly; font-family:Arial, sans-serif; font-size:15px=
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<table role=3D"presentation" align=3D"center" style=3D"border-spaci=
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ial_module_single" width=3D"auto">
<tbody>
<tr align=3D"center">
=20
<td class=3D"display_block_on_small_screens" style=3D"border-=
collapse:collapse; mso-line-height-rule:exactly; font-family:Arial, sans-se=
rif; font-size:15px; color:#000000; word-break:break-word; padding:8px 5px;=
line-height:1; vertical-align:middle" valign=3D"middle">
<a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp=
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</a>
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=20
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</tbody>
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</td>
=20
<td class=3D"social-network-cell" style=3D"border-collapse:collapse; =
mso-line-height-rule:exactly; font-family:Arial, sans-serif; font-size:15px=
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<tbody>
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<td class=3D"display_block_on_small_screens" style=3D"border-=
collapse:collapse; mso-line-height-rule:exactly; font-family:Arial, sans-se=
rif; font-size:15px; color:#000000; word-break:break-word; padding:8px 5px;=
line-height:1; vertical-align:middle" valign=3D"middle">
<a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp=
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=20
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=20
</a>
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=20
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=20
<td class=3D"social-network-cell" style=3D"border-collapse:collapse; =
mso-line-height-rule:exactly; font-family:Arial, sans-serif; font-size:15px=
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<table role=3D"presentation" align=3D"center" style=3D"border-spaci=
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ial_module_single" width=3D"auto">
<tbody>
<tr align=3D"center">
=20
<td class=3D"display_block_on_small_screens" style=3D"border-=
collapse:collapse; mso-line-height-rule:exactly; font-family:Arial, sans-se=
rif; font-size:15px; color:#000000; word-break:break-word; padding:8px 5px;=
line-height:1; vertical-align:middle" valign=3D"middle">
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=20
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mso-line-height-rule:exactly; font-family:Arial, sans-serif; font-size:15px=
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ial_module_single" width=3D"auto">
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collapse:collapse; mso-line-height-rule:exactly; font-family:Arial, sans-se=
rif; font-size:15px; color:#000000; word-break:break-word; padding:8px 5px;=
line-height:1; vertical-align:middle" valign=3D"middle">
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nk-id=3D"0" target=3D"_blank">
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</a>
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=20
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=20
</tr>
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</div></td></tr></tbody></table>
<div id=3D"hs_cos_wrapper_module_166091123325426" class=3D"hs_cos_wrapper h=
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t" data-hs-cos-type=3D"module">
=09
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lpadding=3D"0" cellspacing=3D"0" style=3D"border-spacing:0 !important; bord=
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<tbody>
<tr>
<td align=3D"center" valign=3D"top" style=3D"border-collapse:co=
llapse; mso-line-height-rule:exactly; font-family:Arial, sans-serif; color:=
#000000; word-break:break-word; text-align:center; padding:5px 20px; font-s=
ize:0px">
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xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0J3q3npV1-WJV7CgQqRW1y6D5=
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style=3D"color:#00a4bd; mso-line-height-rule:exactly" data-hs-link-id=3D"0=
">
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00w" sizes=3D"(max-width: 300px) 100vw, 300px">
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<table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0" width=3D"1=
00%" style=3D"border-spacing:0 !important; border-collapse:collapse; mso-ta=
ble-lspace:0pt; mso-table-rspace:0pt"><tbody><tr><td class=3D"hs_padded" st=
yle=3D"border-collapse:collapse; mso-line-height-rule:exactly; font-family:=
Arial, sans-serif; font-size:15px; color:#000000; word-break:break-word; pa=
dding:10px 5px"><div id=3D"hs_cos_wrapper_module_166091123325427" class=3D"=
hs_cos_wrapper hs_cos_wrapper_widget hs_cos_wrapper_type_module" style=3D"c=
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al-type=3D"widget" data-hs-cos-type=3D"module"><div id=3D"hs_cos_wrapper_mo=
dule_166091123325427_" class=3D"hs_cos_wrapper hs_cos_wrapper_widget hs_cos=
_wrapper_type_rich_text" style=3D"color: inherit; font-size: inherit; line-=
height: inherit;" data-hs-cos-general-type=3D"widget" data-hs-cos-type=3D"r=
ich_text"><p style=3D"mso-line-height-rule:exactly; font-size:12px; line-he=
ight:125%; text-align:center; font-weight:bold" align=3D"center"><span styl=
e=3D"color: #ffffff;"><a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/=
d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0J3q3npV1-WJV7CgLRBW61F=
zzM5h24F2W410Z6j1JNVw6W7NGHYJ90Dss_N51YSFQ31wHtN48t6g4kjx92W6J8LK735CFQbW5r=
zd4l4GDVK1W8JrHh43nXb7JN2j333z9vv-lW3g7WK-5hSWl4W3jzcQx3Jlv0_W8L7G7M27tgwNL=
q7qqjY2tmW6QrHbw6-5VCFW5kXglL7FzZTGW2x2cTh613_lCW6tk1vj5rprBcW9lW1tF6H9F2WW=
7j1NzG4vPdhjW4-YYy73z36fqW2RmyrK9k0WLjW6v7S_s7d88kF3bKp1" style=3D"mso-line=
-height-rule:exactly; color:#ffffff; font-weight:bold" rel=3D"noopener" dat=
a-hs-link-id=3D"0" target=3D"_blank">BUY</a> | <a href=3D"https=
://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4Pt=
zZh4Sv3PbN7zrx0J3q3npV1-WJV7CgVbGVxxvTG3Ls_jsVg1tt32Stqd_MrBkdcHGFYmV1qtJY7=
CfR68W2nQZcj7DVJBSW6dVdVD5fjv0YW3L9_fN40jwqyVZVWN06Slf-XN7ynxTpgKBvpW1YfDsK=
4CvWm-N6HkzQlGRxxFW1dbwgN7WtQHXW8Jl7TF7tFz5hW77BKCP17PrFPW62YfC67-4Y8CW1tYR=
2B2kdrSMW6Z5xRv70QF1gW9fqch93TyY4nW8J__zT1gnS3hW6Jzjhp83tRYPVfzddM963X0zVD4=
VK_2pVQMs3mBG1" style=3D"mso-line-height-rule:exactly; font-weight:bold; co=
lor:#ffffff" rel=3D"noopener" data-hs-link-id=3D"0" target=3D"_blank">SELL<=
/a> | <a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/V=
WgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0J3q3npV1-WJV7CgN1wW2hLtmV3yLmkjV=
zpNKd7m_tB9W7Lk0J07TVHKqW6Wtd5n3J5flbW7xwg_S4qFgpNW62Q8kk8168BkW6FVfnY8d-V5=
WVcBb5Q3WYVDvW2yh_CG5gQrH7W8C9hlC5v-z8kVTRbGM8QsfJFW3BYNzG5DmZV4W2-tmHR2kz0=
6_W97qGNr3c6RZ5W7-rZjB5zHwZfW8_TjHP5gMX2gW4HtDLg7xCNXVVt1PC47yWFSjN17lswG1Y=
XNXN6FBby4LPRtbW2R7vtL3G198DW7x9dKJ1Y426j38y11" style=3D"mso-line-height-ru=
le:exactly; color:#ffffff; font-weight:bold" rel=3D"noopener" data-hs-link-=
id=3D"0" target=3D"_blank">TRADING FLOOR</a> | <a href=3D"https://ema=
il02.liveart.io/e3t/Ctc/DO+113/d2xBdp04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv=
3PbN7zrx0J3q3npV1-WJV7CgPp6W93g_0H68JMlnW224H0N2zDVnJW13CVYh9dJ3_BN7tyx-R1n=
qhXW6dRKfm4l-_gpW7vqNtT96GCjlN6H9s4VTBccgW1pFJSf629YNnW7rfYT48_FH2nW5vcRYS2=
GMKXhW4z0bkf12D03DW1MT3jL1fJdcRW8SFjbN977KvFW72fCtQ5M5xK7W1BXrlB1R-Q_KW56LX=
sK2v534fW1__dsB1mQN1YW2mrWNy8--Y3cW4Jltkc1t43wPW1XHzXS7Sd0McW2JgM7q74pVZyW4=
x86b18k2XGM31wZ1" style=3D"mso-line-height-rule:exactly; font-weight:bold; =
color:#ffffff" rel=3D"noopener" data-hs-link-id=3D"0" target=3D"_blank">STO=
RIES</a> | <a href=3D"https://email02.liveart.io/e3t/Ctc/DO+113/d2xBd=
p04/VWgrPZ80xwgHW59nWHY1P8jP8W4PtzZh4Sv3PbN7zrx0p3q3n5V1-WJV7CgHL4Vm7MN34ZY=
4_XW8bgwv_5zW_FJW1P5Wr46htgf5W1cK4tT8d_14jW5PXR5P1HPF5gVZ4WTL6jVxRGN8DCy1mv=
tjQZW1d9fpr1d6X-VW57c9Fz2x7BknW2HRmld4FLt9JW3SM-1s3wphD2W7D6jwD2CSx3xW9fBXd=
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