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Welcome back to Wall Power’s Inner Circle, where you get the kind of art 
market information no one else will give you. I’m Marion Maneker. Many of 
you were keen to go deeper on the top 50 artists of the year, and our 
friends at ARTDAI were also interested in digging into the next layer of art 
market information. So they cut their data by auction house size and 
generated a list of the top 50 artists by total dollar volume, number of 
lots, overall hammer ratio, and highest price for an individual lot at the 
mid-market tier—Bonhams, Heritage, Freeman’s Hindman, Doyle, 
Rago/Wright/LAMA/Toomey, and Swann.





Aug 13, 2025












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PREVIEW VERSION


For full access to Puck Inner Circle content, subscribe today.




 	Marion Maneker


Welcome back to Wall Power’s Inner Circle, where you get the kind of art 
market information no one else will give you. I’m Marion Maneker.

Many of you were keen to go deeper on the top 50 artists of the year, and 
our friends at ARTDAI were also interested in digging into the next layer of 
art market information. So they cut their data by auction house size and 
generated a list of the top 50 artists by total dollar volume, number of 
lots, overall hammer ratio, and highest price for an individual lot at the 
mid-market tier—Bonhams, Heritage, Freeman’s Hindman, Doyle, 
Rago/Wright/LAMA/Toomey, and Swann. (You can download a copy here.)

I’ll get to that analysis in a minute. But first, there are new names to 
announce for The Art of Influence, our summit on September 15 in partnership 
with The FLAG Art Foundation: Christophe Cherix, the incoming director of 
the Museum of Modern Art, will join us on a panel with the Whitney’s Scott 
Rothkopf and Anne Pasternak of the Brooklyn Museum. Brett Gorvy, of Lévy 
Gorvy Dayan and New Perspectives Art Partners, and Wentworth Beaumont, 
co-founder of Beaumont Nathan, will also join Patti Wong on a panel of art 
advisors. All of that is in addition to our previously announced speakers: 
Larry Gagosian, Nicolas Party, Charles Stewart, Dasha Zhukova, Michael 
Ovitz, Tom Hill, and Glenn Fuhrman.

We are sold out of Inner Circle tickets, but we have a handful of all-access 
tickets still available. I doubt they will last long. I hope you’ll join us.

In the meantime…


*	Matt Bangser joins AIG: When Tim Blum announced he would be winding down 
his gallery operations, I asked his team about his partner Matt Bangser’s 
plans. Bangser had been with...




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The Hottest Artists in the Middle Market



Since the most active sector of the art market lately has been the sales 
below $1 million, ARTDAI has given us a look at the action at the smaller 
auction houses: Rockwell and Abercrombie predominate, and collectors keep 
searching for overlooked value.




 	Marion Maneker




The art world is less a single, monolithic market than a series of 
microeconomies for, say, the work of individual artists or within historical 
movements. These dynamics can easily be overlooked in the aggregate data 
from the global auction houses. Last week, we looked at the top 50 artists 
of the year by overall auction volume, number of lots, overall hammer ratio, 
and top price for the four largest auction houses: Bonhams, Christie’s, 
Phillips, and Sotheby’s. While that list yielded a number of interesting 
market insights, the most active sector of the market, as I’ve noted before, 
has been the sales below $1 million. So the data did not reveal as much as 
we might have hoped.

To compensate, ARTDAI cut the numbers a little differently for us this week. 
They isolated sales at a group of smaller auction houses to develop a 
mid-market list of the top 50 artists by the same criteria. (You can 
download a copy of their report here.) Here’s what they found…




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Finally, a media podcast about what’s actually happening in the media—not 
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Join Dylan Byers, Puck’s veteran media reporter, as he sits down with TV 
personalities, moguls, pundits, and industry executives for raw, honest, 
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Garcia’s Realpolitik



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al&#39;;font-size:14px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:center;mso-line-height-alt:21px;"><p style=3D"margin:0;">For =
full access to Puck Inner Circle content,
<strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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5uZXItY2lyY2xlLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMRUF=
EUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxs=
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2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MD=
YxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5=
rX2lkIjoyMDcyMTY0fQ/562d493c187f965c0dc5fb34b38a5f2ae0088fd64d13eed13e7e8=
21d68ed3b07" target=3D"_blank" =
style=3D"text-decoration:underline;color:#d40000;" =
rel=3D"noopener">subscribe</a></strong> today.</p></div>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
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<table class=3D"np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
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eight:0;"><tbody><tr><td class=3D"r5" =
style=3D"vertical-align:middle;color:#d40000;font-family:&#39;PuckSerifDi=
splay&#39;,&#39;Georgia&#39;;font-size:20px;font-weight:400;padding-botto=
m:24px;text-align:left;">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1=
c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVka=
XVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDh=
kMjgiLCJsaW5rX2lkIjo4NDc4MTd9/1f4739f44a835ab862cf8820d3176c6b85200145cec=
6fc49ffb7ed552116f25d" target=3D"_self" =
style=3D"text-decoration:none;"><img alt=3D"Marion Maneker" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1739207842260_avatar-marion-update-2025-02-10_01JKRDV6FXDFC5A7AK1PGGWTBD=
.png" height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/></a>
</td><td =
style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:undefined;text-align:left;line-height:normal;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1=
c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVka=
XVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDh=
kMjgiLCJsaW5rX2lkIjo4NDc4MTd9/1f4739f44a835ab862cf8820d3176c6b85200145cec=
6fc49ffb7ed552116f25d" target=3D"_self" =
style=3D"color:#d40000;text-decoration:none;">Marion Maneker</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"c4 oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;">Welcome back to Wall Power=E2=80=99s Inner Circle, =
where you get the kind of art market
information no one else will give you. I=E2=80=99m <strong>Marion =
Maneker</strong>.<br/><br/>Many of you were keen to go deeper on the top =
50 artists of the year, and our friends at ARTDAI were also interested =
in digging into the next layer of art market information. So they cut =
their data by auction house size and generated a list of the top 50 =
artists by total dollar volume, number of lots, overall hammer ratio, =
and highest price for an individual lot at the mid-market =
tier=E2=80=94Bonhams, Heritage, Freeman=E2=80=99s
Hindman, Doyle, Rago/Wright/LAMA/Toomey, and Swann. (You can download a =
copy <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd3=
AtY29udGVudC91cGxvYWRzLzIwMjUvMDgvUHVjay14LUFSVERBSS1Ib3QtNTAtUHQuLTItVjI=
tMS5wZGY_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4=
OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrV2FsbCtQb3dlc=
istK0xFQURTKyUyODglMkYxMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb2=
5cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2Q=
zMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6=
MjMxODM1MH0/0e2b4e0b0de26480eb68e406bcff0de75b412fc6b776cd26ff967419900eb=
abe" =
style=3D"text-decoration:underline;color:#d40000;">here</a>.)<br/><br/>I=E2=
=80=99ll get to that analysis in a minute. But first, there are new =
names to announce for The Art of Influence, our <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLmV2ZW50cy=
90aGVhcnRvZmluZmx1ZW5jZS9pbm5lcmNpcmNsZT91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZ=
lK1dhbGwrUG93ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50=
PUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwM=
jZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdT=
AwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTV=
lM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjM2NzQxfQ/e86ff65e7be21598cf9dedfc39afe=
4466dbf11ac375eeee0aaab995faefaa141" =
style=3D"text-decoration:underline;color:#d40000;">summit</a> on =
September 15 in partnership
with The FLAG Art Foundation: <strong>Christophe Cherix</strong>, the =
incoming director of the Museum of Modern Art, will join us on a panel =
with the Whitney=E2=80=99s <strong>Scott Rothkopf </strong>and =
<strong>Anne Pasternak</strong> of the Brooklyn Museum. <strong>Brett =
Gorvy</strong>, of L=C3=A9vy Gorvy Dayan and New Perspectives Art =
Partners, and <strong>Wentworth Beaumont</strong>, co-founder of =
Beaumont Nathan, will also join <strong>Patti Wong</strong> on a panel =
of art advisors. All of that is in
addition to our previously announced speakers: <strong>Larry =
Gagosian</strong>, <strong>Nicolas Party</strong>, <strong>Charles =
Stewart</strong>, <strong>Dasha Zhukova</strong>, <strong>Michael =
Ovitz</strong>, <strong>Tom Hill</strong>, and <strong>Glenn =
Fuhrman</strong>.<br/><br/>We are sold out of Inner Circle tickets, but =
we have a handful of all-access <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLmV2ZW50cy=
90aGVhcnRvZmluZmx1ZW5jZS9pbm5lcmNpcmNsZT91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZ=
lK1dhbGwrUG93ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50=
PUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwM=
jZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdT=
AwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTV=
lM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjM2NzQxfQ/e86ff65e7be21598cf9dedfc39afe=
4466dbf11ac375eeee0aaab995faefaa141" =
style=3D"text-decoration:underline;color:#d40000;">tickets</a> still =
available. I
doubt they will last long. I hope you=E2=80=99ll join =
us.<br/><br/><em>In the meantime=E2=80=A6</em></p></div>
</td></tr></tbody></table>
<table class=3D"q p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;f=
ont-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn:left;mso-line-height-alt:26px;"><tbody><tr><td class=3D"r5" =
style=3D"padding-bottom:3px;"><div style=3D"margin-left:-20px"><ul =
start=3D"1" =
style=3D"margin-top:0;margin-bottom:0;list-style-type:revert;"><li =
style=3D"Margin:0 0 24px 0;"><em>Matt Bangser joins AIG</em>: When =
<strong>Tim Blum</strong> <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcl9jb250ZW50L2JsdW1zLXNob2NrZXItYS0xMzJtLWxvbmRvbi13aW5kZmFsbC1=
maW5hbmNpYWxpemF0aW9uLXF1ZXN0aW9ucy0yLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZl=
K1dhbGwrUG93ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50P=
UlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMj=
Z1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTA=
wMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVl=
M2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMzE4MzUxfQ/57d6087033e60a4b7b2e0f6d3930ba=
8b6350cf8064da859f05ad235e84c3a0e9" =
style=3D"text-decoration:underline;color:#d40000;">announced</a> he =
would be winding down his gallery operations, I asked his team about his =
partner <strong>Matt Bangser</strong>=E2=80=99s plans. Bangser had been =
with...</li></ul></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;border-bottom:1px solid #d40000;border-top:1px solid =
#d40000;padding-bottom:32px;padding-left:24px;padding-right:24px;padding-=
top:32px;
vertical-align:top;">
<table class=3D"c4 np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">A =
MESSAGE FROM OUR SPONSOR</p></div>
</td></tr></tbody></table>
<table class=3D"j oq n5" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL04xOTU1NTA3LjQyMzU5MjFQVUNLL0IzMzI2Njk2Mi40MjQ=
yNjQwOTk7ZGNfdHJrX2FpZD02MTcxODM2Mjg7ZGNfdHJrX2NpZD0yMzgxMjYxMjU7ZGNfbGF0=
PTtkY19yZGlkPTt0YWdfZm9yX2NoaWxkX2RpcmVjdGVkX3RyZWF0bWVudD07dGZ1YT07Z2Rwc=
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d2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2Fjd=
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kIjoyMzE2NTIxfQ/54088bf9ce1abc0eafd0acbcf35604a4051b9f44a6fd93e195571d4e3=
72117cc" target=3D"_blank"><img =
src=3D"https://images.scalero.io/email_assets/2176/G0M91RA6DBQDHLDB9XE77T=
6V7CPRVR5BZ72635V4ZD43H32ST0FZLUIQMXEM467J.gif" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"Range Rover Sport" title=3D"Range Rover Sport" =
height=3D"auto"/></a></div></div>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;mso-hide:all;display:n=
one;max-height:0;overflow:hidden;"><tbody><tr><td class=3D"r5" =
style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL04xOTU1NTA3LjQyMzU5MjFQVUNLL0IzMzI2Njk2Mi40MjQ=
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lMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxsK1Bv=
d2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2Fjd=
Glvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2l=
kIjoyMzE2NTIxfQ/54088bf9ce1abc0eafd0acbcf35604a4051b9f44a6fd93e195571d4e3=
72117cc" target=3D"_blank"><img =
src=3D"https://images.scalero.io/email_assets/2174/5OIQC8W83YNKM13QNFJSVG=
850R6Z779GMVOS6187195DUG1MXSFRK0WM6OF08Z8N.gif" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"Range Rover Sport" title=3D"Range Rover Sport" =
height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"c4" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:center;mso-line-height-alt:20px;"><p =
style=3D"margin:0;"><strong>ALWAYS CONTEMPORARY</strong><br/>With a bold =
silhouette that conveys movement even at standstill, the Range
Rover Sport is striking from every angle.<br/><strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL04xOTU1NTA3LjQyMzU5MjFQVUNLL0IzMzI2Njk2Mi40MjQ=
yNjQwOTk7ZGNfdHJrX2FpZD02MTcxODM2Mjg7ZGNfdHJrX2NpZD0yMzgxMjYxMjU7ZGNfbGF0=
PTtkY19yZGlkPTt0YWdfZm9yX2NoaWxkX2RpcmVjdGVkX3RyZWF0bWVudD07dGZ1YT07Z2Rwc=
j0kJTdCR0RQUiU3RDtnZHByX2NvbnNlbnQ9JCU3QkdEUFJfQ09OU0VOVF83NTUlN0Q7bHRkPT=
tkY190ZHY9MT91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMRUFEUys=
lMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxsK1Bv=
d2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2Fjd=
Glvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2l=
kIjoyMzE2NTIxfQ/54088bf9ce1abc0eafd0acbcf35604a4051b9f44a6fd93e195571d4e3=
72117cc" target=3D"_blank" =
style=3D"text-decoration:underline;color:#d40000;" =
rel=3D"noopener">EXPLORE</a></strong></p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"w" align=3D"center" width=3D"100%" border=3D"0" =
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:16px;vertical-=
align:top;">
<table class=3D"c4 np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><em>Can=E2=80=99t see the full story? For full =
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subscribe today.</em></p></div>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" style=3D"padding-bottom:32px;text-align:center;"><div =
class=3D"r" align=3D"center"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
5uZXItY2lyY2xlLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMRUF=
EUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxs=
K1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX=
2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MD=
YxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5=
rX2lkIjoyMDcyMTY0fQ/562d493c187f965c0dc5fb34b38a5f2ae0088fd64d13eed13e7e8=
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n:center;width:60%;word-break:keep-all;letter-spacing:normal;"><span =
style=3D"word-break:break-word;line-height:28px;">JOIN THE INNER =
CIRCLE</span></span></a></div>
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<table class=3D"x" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:12px;vertical-align:top;border-radius:0px;">
<table class=3D"j np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" style=3D"width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:600px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdG=
hlLTUwLWhvdHRlc3QtYXJ0aXN0cy1pbi10aGUtbWlkZGxlLW1hcmtldC8_dXRtX2NhbXBhaWd=
uPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrV2FsbCtQb3dlcistK0xFQURTKyUyODglMkYxM=
yUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPW=
N1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5=
hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjMxODM1Mn0/123d1b85c9c3=
0535adaf5ecda83185988315bb8b53cf9fddb11b375b8ecaf63a" =
target=3D"_blank"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1755114425696_WPIC_01K2JFHKCN8346ES9G9QH67CKR.jpg" =
style=3D"display:block;height:auto;
border:0;width:100%;" width=3D"600" alt=3D"The Hottest Artists in the =
Middle Market" title=3D"The Hottest Artists in the Middle Market" =
height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"padding-bottom:8px;padding-left:24px;padding-right:24px;padding-=
top:24px;width:100%;"><div class=3D"r" align=3D"left"><div =
style=3D"max-width:142px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1735839782111_ice-badge_01JGM1T57TV42CK4RX9AZ2QJ1N.png" =
style=3D"display:block;height:auto;border:0;width:
100%;" width=3D"142" alt=3D"Inner Circle Exclusive" title=3D"Inner =
Circle Exclusive" height=3D"auto"/></div></div>
</td></tr></tbody></table>
<table class=3D"gq p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"padding-bottom:16px;padding-left:24px;padding-right:24px;text-al=
ign:center;width:100%;"><h1 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:48px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
o-line-height-alt:58px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdG=
hlLTUwLWhvdHRlc3QtYXJ0aXN0cy1pbi10aGUtbWlkZGxlLW1hcmtldC8_dXRtX2NhbXBhaWd=
uPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrV2FsbCtQb3dlcistK0xFQURTKyUyODglMkYxM=
yUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPW=
N1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5=
hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjMxODM1Mn0/123d1b85c9c3=
0535adaf5ecda83185988315bb8b53cf9fddb11b375b8ecaf63a" target=3D"_blank" =
style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener"><span =
style=3D"word-break:break-word;position:relative;" =
data-position=3D"80-0-2" data-qa=3D"tinyeditor-root-element">The Hottest =
Artists in the Middle Market</span></a></h1>
</td></tr></tbody></table>
<table class=3D"c4" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" =
style=3D"padding-left:24px;padding-right:24px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:19px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:29px;"><p style=3D"margin:0;">Since =
the most active sector of the art market lately has been the
sales below $1 million, ARTDAI has given us a look at the action at the =
smaller auction houses: Rockwell and Abercrombie predominate, and =
collectors keep searching for overlooked value.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-bottom:8px solid transparent;border-left:24px solid =
transparent;border-radius:0;border-right:24px solid =
transparent;border-top:8px solid =
transparent;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:
left;border-bottom:1px solid #d40000;border-top:1px solid =
#d40000;vertical-align:top;border-radius:0px;">
<table class=3D"np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r5" =
style=3D"vertical-align:middle;color:#d40000;font-family:&#39;PuckSerifDi=
splay&#39;,&#39;Georgia&#39;;font-size:20px;font-weight:400;padding-botto=
m:8px;padding-right:8px;padding-top:8px;text-align:left;">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1=
c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVka=
XVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDh=
kMjgiLCJsaW5rX2lkIjo4NDc4MTd9/1f4739f44a835ab862cf8820d3176c6b85200145cec=
6fc49ffb7ed552116f25d" target=3D"_self" =
style=3D"text-decoration:none;"><img alt=3D"Marion Maneker" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1739207842260_avatar-marion-update-2025-02-10_01JKRDV6FXDFC5A7AK1PGGWTBD=
.png" height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/></a>
</td><td =
style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:undefined;text-align:left;line-height:normal;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1=
c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVka=
XVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDh=
kMjgiLCJsaW5rX2lkIjo4NDc4MTd9/1f4739f44a835ab862cf8820d3176c6b85200145cec=
6fc49ffb7ed552116f25d" target=3D"_self" =
style=3D"color:#d40000;text-decoration:none;">Marion Maneker</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:16px;vertical-=
align:top;">
<table class=3D"c4 np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">The =
art world is less a single, monolithic market than a series of =
microeconomies
for, say, the work of individual artists or within historical movements. =
These dynamics can easily be overlooked in the aggregate data from the =
global auction houses. Last week, we looked at the <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdG=
hlLXRvcC01MC1hcnRpc3RzLW9mLXRoZS15ZWFyLXNvLWZhci8_dXRtX2NhbXBhaWduPUlDK0V=
4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1f=
Y29udGVudD1JQytFeGNsdXNpdmUrV2FsbCtQb3dlcistK0xFQURTKyUyODglMkYxMyUyRjI1J=
TI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbW=
VyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY=
2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjMwOTcxNH0/8083343beabf758f34fb=
58ee0606ba6442047228f9166746de28d6a0d5f0eca2" =
style=3D"text-decoration:underline;color:#d40000;">top 50 artists</a> of =
the year by overall auction volume, number of lots, overall hammer =
ratio, and top price for the four largest auction houses: Bonhams, =
Christie=E2=80=99s, Phillips, and
Sotheby=E2=80=99s. While that list yielded a number of interesting =
market insights, the most active sector of the market, as I=E2=80=99ve =
noted before, has been the sales below $1 million. So the data did not =
reveal as much as we might have hoped.<br/><br/>To compensate, ARTDAI =
cut the numbers a little differently for us this week. They isolated =
sales at a group of smaller auction houses to develop a mid-market list =
of the top 50 artists by the same criteria. (You can download a copy of =
their report
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd3=
AtY29udGVudC91cGxvYWRzLzIwMjUvMDgvUHVjay14LUFSVERBSS1Ib3QtNTAtUHQuLTItVjI=
tMS5wZGY_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4=
OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrV2FsbCtQb3dlc=
istK0xFQURTKyUyODglMkYxMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb2=
5cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2Q=
zMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6=
MjMxODM1MH0/0e2b4e0b0de26480eb68e406bcff0de75b412fc6b776cd26ff967419900eb=
abe" style=3D"text-decoration:underline;color:#d40000;">here</a>.) =
Here=E2=80=99s what they found=E2=80=A6</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"n3" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
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EUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxs=
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YxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5=
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al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
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MESSAGE FROM OUR SPONSOR</p></div>
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL04xOTU1NTA3LjQyMzU5MjFQVUNLL0IzMzI2Njk2Mi40MjQ=
yNjQwOTk7ZGNfdHJrX2FpZD02MTcxODM2Mjg7ZGNfdHJrX2NpZD0yMzgxMjYxMjU7ZGNfbGF0=
PTtkY19yZGlkPTt0YWdfZm9yX2NoaWxkX2RpcmVjdGVkX3RyZWF0bWVudD07dGZ1YT07Z2Rwc=
j0kJTdCR0RQUiU3RDtnZHByX2NvbnNlbnQ9JCU3QkdEUFJfQ09OU0VOVF83NTUlN0Q7bHRkPT=
tkY190ZHY9MT91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMRUFEUys=
lMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxsK1Bv=
d2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2Fjd=
Glvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2l=
kIjoyMzE2NTIxfQ/54088bf9ce1abc0eafd0acbcf35604a4051b9f44a6fd93e195571d4e3=
72117cc" target=3D"_blank"><img =
src=3D"https://images.scalero.io/email_assets/2176/G0M91RA6DBQDHLDB9XE77T=
6V7CPRVR5BZ72635V4ZD43H32ST0FZLUIQMXEM467J.gif" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"Range Rover Sport" title=3D"Range Rover Sport" =
height=3D"auto"/></a></div></div>
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one;max-height:0;overflow:hidden;"><tbody><tr><td class=3D"r5" =
style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL04xOTU1NTA3LjQyMzU5MjFQVUNLL0IzMzI2Njk2Mi40MjQ=
yNjQwOTk7ZGNfdHJrX2FpZD02MTcxODM2Mjg7ZGNfdHJrX2NpZD0yMzgxMjYxMjU7ZGNfbGF0=
PTtkY19yZGlkPTt0YWdfZm9yX2NoaWxkX2RpcmVjdGVkX3RyZWF0bWVudD07dGZ1YT07Z2Rwc=
j0kJTdCR0RQUiU3RDtnZHByX2NvbnNlbnQ9JCU3QkdEUFJfQ09OU0VOVF83NTUlN0Q7bHRkPT=
tkY190ZHY9MT91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMRUFEUys=
lMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStXYWxsK1Bv=
d2VyKy0rTEVBRFMrJTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2Fjd=
Glvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2l=
kIjoyMzE2NTIxfQ/54088bf9ce1abc0eafd0acbcf35604a4051b9f44a6fd93e195571d4e3=
72117cc" target=3D"_blank"><img =
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850R6Z779GMVOS6187195DUG1MXSFRK0WM6OF08Z8N.gif" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
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height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"c4" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:center;mso-line-height-alt:20px;"><p =
style=3D"margin:0;"><strong>ALWAYS CONTEMPORARY</strong><br/>With a bold =
silhouette that conveys movement even at standstill, the Range
Rover Sport is striking from every angle.<br/><strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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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 =
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and Sarah Shapiro, a longtime retail strategist who writes about =
e-commerce, brick-and-mortar, D.T.C., and more.=C2=A0</p></div>
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align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdHMvdGhlLWdyaWxsLXJvb20vP3V0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrV2FsbCt=
Qb3dlcistK0xFQURTKyUyODglMkYxMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9SUMrRXhj=
bHVzaXZlK1dhbGwrUG93ZXIrLStMRUFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9tZ=
WRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV=
90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ=
0OGQyOCIsImxpbmtfaWQiOjE5NTA0OTF9/21a8513bcd5e33bca643ce597b75b0641df9f3f=
42654add75543b4e79a539513" target=3D"_blank"><img =
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H.png" style=3D"display:block;height:auto;border:0;width:100%;" =
width=3D"552" alt=3D"The Grill Room" title=3D"The Grill Room" =
height=3D"auto"/></a></div></div>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p =
style=3D"margin:0;">Finally, a media podcast about what=E2=80=99s =
<em>actually</em> happening in the media=E2=80=94not the oversanitized,
legal-and-standards-approved version you read online. Join Dylan Byers, =
Puck=E2=80=99s veteran media reporter, as he sits down with TV =
personalities, moguls, pundits, and industry executives for raw, honest, =
sometimes salacious conversations about the business of media and its =
biggest egos. New episodes publish every Tuesday and Friday.</p></div>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
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cellspacing=3D"0" role=3D"presentation" =
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ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:16px;padding-left:24px;padding-right:24px;paddin=
g-top:32px;vertical-align:top;">
<table class=3D"j np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" style=3D"width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1738863107072_rec-title-stories-update-2025-02-05_01JKE52Q3F4W78EVGP6GKY=
QAEG.png" style=3D"display:block;height:auto;border:0;width:100%;" =
width=3D"552" alt=3D"Stories" title=3D"Stories" =
height=3D"auto"/></div></div>
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<table class=3D"s" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" =
width=3D"41.666666666666664%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:16px;padding-left:24px;padding-right:16px;paddin=
g-top:16px;vertical-align:top;">
<table class=3D"j np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"width:100%;padding-right:0px;padding-left:0px;"><div =
class=3D"r" align=3D"center"><div class=3D"f" =
style=3D"max-width:210px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1755111078516_THL_01K2JCBEMPTNCJYBSPK46W4T0S.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"210" =
alt=3D"More GPT-5 Fallout" title=3D"More GPT-5 Fallout" =
height=3D"auto"/></div></div>
</td></tr></tbody></table>
</td><td class=3D"yq pd" width=3D"58.333333333333336%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:32px;padding-right:24px;padding-top:16px;vertica=
l-align:top;">
<table class=3D"gq np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:32px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
o-line-height-alt:38px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaG=
FzLWdwdC01LXNoYXR0ZXJlZC10aGUtYWdpLWZhbnRhc3ktZm9yLWdvb2QvP3V0bV9jYW1wYWl=
nbj1JQytFeGNsdXNpdmUrV2FsbCtQb3dlcistK0xFQURTKyUyODglMkYxMyUyRjI1JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMRUFEUyslMjg4JTJGM=
TMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT=
1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJ=
uYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIzMTcwMDd9/816fd12646f=
b605bc240d23dfa41dadca8275b0b8444f774130384502d933044" target=3D"_blank" =
style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener"><span =
style=3D"word-break:break-word;position:relative;" =
data-position=3D"10-1-0" data-qa=3D"tinyeditor-root-element">More GPT-5 =
Fallout</span></a></h2>
</td></tr></tbody></table>
<table class=3D"c4 oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&=
#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">IAN =
KRIETZBERG</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"t" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" =
width=3D"41.666666666666664%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:16px;padding-left:24px;padding-right:16px;paddin=
g-top:16px;vertical-align:top;">
<table class=3D"j np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"width:100%;padding-right:0px;padding-left:0px;"><div =
class=3D"r" align=3D"center"><div class=3D"f" =
style=3D"max-width:210px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1755111078161_TBTB_01K2JCBE9J2G8MG80E0R6E09D2.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"210" =
alt=3D"Garcia=E2=80=99s
Realpolitik" title=3D"Garcia=E2=80=99s Realpolitik" =
height=3D"auto"/></div></div>
</td></tr></tbody></table>
</td><td class=3D"yq pd" width=3D"58.333333333333336%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:32px;padding-right:24px;padding-top:16px;vertica=
l-align:top;">
<table class=3D"gq np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000;direction:ltr;font-family:&#39;PuckSerifDisp=
lay&#39;,&#39;Georgia&#39;;font-size:32px;font-weight:400;letter-spacing:=
normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-l=
ine-height-alt:38px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvcm=
9iZXJ0LWdhcmNpYS1vbi1nZXJyeW1hbmRlcmluZy1lcHN0ZWluLWFuZC1kZW0tc3RyYXRlZ3k=
vP3V0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrV2FsbCtQb3dlcistK0xFQURTKyUyODglMkYx=
MyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMR=
UFEUyslMjg4JTJGMTMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMD=
I2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ=
4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIzMTc3=
NTR9/59d396f7bcc36bfd62ddb951d67679e2c5692ba64174ba8d8f113c47ada5c332" =
target=3D"_blank" style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener">Garcia=E2=80=99s =
Realpolitik</a></h2>
</td></tr></tbody></table>
<table class=3D"c4 oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&=
#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">JOHN =
HEILEMANN</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"u" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" =
width=3D"41.666666666666664%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
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g-top:16px;vertical-align:top;">
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
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style=3D"width:100%;padding-right:0px;padding-left:0px;"><div =
class=3D"r" align=3D"center"><div class=3D"f" =
style=3D"max-width:210px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
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style=3D"display:block;height:auto;border:0;width:100%;" width=3D"210" =
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height=3D"auto"/></div></div>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:32px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
o-line-height-alt:38px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mva2=
hhaXRlLWhhcy10aHJpdmVkLXVuZGVyLXByaXZhdGUtZXF1aXR5LWNhbi1pdC1zdXJ2aXZlLWV=
4cGFuc2lvbi8_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMr=
JTI4OCUyRjEzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrV2FsbCtQb=
3dlcistK0xFQURTKyUyODglMkYxMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3=
Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTV=
lM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19p=
ZCI6MjMxNzA2NX0/7388a673349ee1519b489311771db1f1335a6e53d535682a4b8fb446e=
a7234d4" target=3D"_blank" style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener"><span =
style=3D"word-break:break-word;position:relative;" =
data-position=3D"10-1-0" data-qa=3D"tinyeditor-root-element">Khaite =
Private Equity</span></a></h2>
</td></tr></tbody></table>
<table class=3D"c4 oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&=
#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">SARAH =
SHAPIRO</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:32px;padding-left:24px;padding-right:24px;paddin=
g-top:32px;vertical-align:top;">
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" style=3D"width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdZcGFsNktPRW5FTFhBczFnaHlBdz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam=
9pbi8_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4OCU=
yRjEzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrV2FsbCtQb3dlcist=
K0xFQURTKyUyODglMkYxMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cd=
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