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Welcome back to the Inner Circle of Wall Power. I’m Marion Maneker. Let’s
keep it down so the others won’t hear us. For tonight, I spoke to Nicholas
Acquavella and Jean-Paul Engelen, soon to be working together at Acquavella
gallery, about how their respective trajectories crossed. I’ll have the full
interview below the fold.
May 28, 2025
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PREVIEW VERSION
For full access to Puck Inner Circle content, subscribe today.
Marion Maneker
Welcome back to the Inner Circle of Wall Power. I’m Marion Maneker. Let’s
keep it down so the others won’t hear us.
For tonight, I spoke to Nicholas Acquavella and Jean-Paul Engelen, soon to
be working together at Acquavella gallery, about how their respective
trajectories crossed. I’ll have the full interview below the fold.
But first…
* Phillips Hong Kong sale = HK$79 million ($10 million): Phillips’ main
spring Hong Kong sale—a combined evening and day sale—made $10 million
yesterday. The top lot was...
A MESSAGE FROM OUR SPONSOR
A new campaign starring Julia Garner celebrates the House’s storied silk
scarves and their enduring legacy within the House’s design codes.
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JOIN THE INNER CIRCLE
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Condition Report: Nicholas Acquavella and Jean-Paul Engelen
As Engelen leaves Phillips and heads over to the Acquavella gallery in July,
I checked in with him and Nick Acquavella about the century-old gallery, the
rise of private dealers in the current market, and the “terrifying concept,”
in Nick’s words, that “no one needs what we sell.”
Marion Maneker
Last week, Jean-Paul Engelen announced that he would be leaving his position
as president of the Americas at Phillips, a company he joined 10 years ago
and helped scale to a billion dollars in sales. In July, he will be joining
Acquavella gallery—one of the oldest art galleries still in business in
America. His return to the private market seemed to me a good opportunity to
learn more about Acquavella, and how dealers are operating these days.
So I got Jean-Paul and Nicholas Acquavella, a third-generation art dealer
who works alongside his father and two siblings, on Zoom to discuss the
move...
JOIN THE INNER CIRCLE
A MESSAGE FROM OUR SPONSOR
A new campaign starring Julia Garner celebrates the House’s storied silk
scarves and their enduring legacy within the House’s design codes.
DISCOVER MORE
The ultimate fashion industry bible, offering incisive reportage on all
aspects of the business and its biggest players. Anchored by preeminent
fashion journalist Lauren Sherman, Line Sheet also features veteran reporter
Rachel Strugatz, who delivers unparalleled intel on what’s happening in the
beauty industry, and Sarah Shapiro, a longtime retail strategist who writes
about e-commerce, brick-and-mortar, D.T.C., and more.
Finally, a media podcast about what’s actually happening in the media—not
the oversanitized, legal-and-standards-approved version you read online.
Join Dylan Byers, Puck’s 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.
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A ‘Thrones’-A.I. Cliffhanger
ERIQ GARDNER
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Jake Tapper’s Blacklist
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Dasha Zhukova in Harlem
MARION MANEKER
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rel=3D"noopener">subscribe</a></strong> today.</p></div>
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cellspacing=3D"0" role=3D"presentation" =
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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%" =
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<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 =
style=3D"vertical-align:middle;color:#d40000;font-family:'PuckSerifDi=
splay','Georgia';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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93=
ZXIrLStJQytMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfY=
WN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNj=
E1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmt=
faWQiOjg0NzgxN30/19565db82117f9300db17b1015a61f14bfb72ffa405885abd877a12e=
55be583b" 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:'PuckSerifDisplay','Georgia';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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93=
ZXIrLStJQytMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfY=
WN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNj=
E1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmt=
faWQiOjg0NzgxN30/19565db82117f9300db17b1015a61f14bfb72ffa405885abd877a12e=
55be583b" target=3D"_self" =
style=3D"color:#d40000;text-decoration:none;">Marion Maneker</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"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 style=3D"padding-bottom:27px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';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 the Inner Circle of Wall Power. =
I=E2=80=99m <strong>Marion Maneker</strong>. Let=E2=80=99s keep it
down so the others won=E2=80=99t hear us.<br/><br/>For tonight, I spoke =
to <strong>Nicholas Acquavella </strong>and <strong>Jean-Paul =
Engelen</strong>, soon to be working together at Acquavella gallery, =
about how their respective trajectories crossed. I=E2=80=99ll have the =
full interview below the fold.<br/><br/><em>But =
first=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:'Inter','Arial';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 =
style=3D"padding-bottom:8px;"><div style=3D"margin-left:-20px"><ul =
style=3D"margin-top:0;margin-bottom:0;list-style-type:revert;"><li =
style=3D"Margin:0 0 24px 0;"><em>Phillips
Hong Kong sale =3D HK$79 million ($10 million)</em>: Phillips=E2=80=99 =
main spring Hong Kong sale=E2=80=94a combined evening and day =
sale=E2=80=94made $10 million yesterday. The top lot =
was...</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" =
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<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"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 style=3D"padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';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>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzMjkxMDMyO2RjX2xhdD07=
ZGNfcmRpZD07dGFnX2Zvcl9jaGlsZF9kaXJlY3RlZF90cmVhdG1lbnQ9O3RmdWE9O2dkcHI9J=
CU3QkdEUFIlN0Q7Z2Rwcl9jb25zZW50PSQlN0JHRFBSX0NPTlNFTlRfNzU1JTdEO2x0ZD07ZG=
NfdGR2PTE_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI=
4NSUyRjI4JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rSUMrTEVBRFMr=
JTI4NSUyRjI4JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0b=
V9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOC=
IsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTk1NjA0fQ/=
b6c259f10e4c91165271390e1f7087fc1f5ef4e3542e114e7df6b0e2e4fe196d" =
target=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1744297781360_SMLG-NA-Celebrity-JuliaGarner_BurgundyFloraPrint-Foulard25=
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style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"Gucci" title=3D"Gucci" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j p n" 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;mso-hide:all;display:n=
one;max-height:0;overflow:hidden;"><tbody><tr><td =
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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzMjkxMDMyO2RjX2xhdD07=
ZGNfcmRpZD07dGFnX2Zvcl9jaGlsZF9kaXJlY3RlZF90cmVhdG1lbnQ9O3RmdWE9O2dkcHI9J=
CU3QkdEUFIlN0Q7Z2Rwcl9jb25zZW50PSQlN0JHRFBSX0NPTlNFTlRfNzU1JTdEO2x0ZD07ZG=
NfdGR2PTE_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI=
4NSUyRjI4JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rSUMrTEVBRFMr=
JTI4NSUyRjI4JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0b=
V9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOC=
IsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTk1NjA0fQ/=
b6c259f10e4c91165271390e1f7087fc1f5ef4e3542e114e7df6b0e2e4fe196d" =
target=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1744297793557_SMLG-NA-Celebrity-JuliaGarner_BurgundyFloraPrint-Foulard25=
_600x700_01JRG4063C2VJ04480VQJ68PWK.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"Gucci" title=3D"Gucci" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table 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><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';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;margin-bottom:0px;">A new campaign starring Julia =
Garner celebrates the House=E2=80=99s storied silk scarves and their =
enduring legacy within the
House=E2=80=99s design codes.</p><p style=3D"margin:0;"><br/><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzMjkxMDMyO2RjX2xhdD07=
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CU3QkdEUFIlN0Q7Z2Rwcl9jb25zZW50PSQlN0JHRFBSX0NPTlNFTlRfNzU1JTdEO2x0ZD07ZG=
NfdGR2PTE_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI=
4NSUyRjI4JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rSUMrTEVBRFMr=
JTI4NSUyRjI4JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0b=
V9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOC=
IsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTk1NjA0fQ/=
b6c259f10e4c91165271390e1f7087fc1f5ef4e3542e114e7df6b0e2e4fe196d" =
target=3D"_blank" style=3D"text-decoration:underline;color:#d40000;" =
rel=3D"noopener"><strong>DISCOVER MORE</strong></a></p></div>
</td></tr></tbody></table>
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<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"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 style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';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 =
access to Puck Inner Circle content, 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 =
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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvbX=
ktYWNjb3VudC9iaWxsaW5nLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXI=
rLStMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIr=
LStJQytMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0a=
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NkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQ=
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" target=3D"_blank" style=3D"color:#ffffff;text-decoration:none;"><span =
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solid #d40000;
border-top:2px solid =
#d40000;color:#ffffff;display:inline-block;font-family:'Inter',&#=
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</td></tr></tbody></table>
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<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 =
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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
ljay1hY3F1YXZlbGxhLW9uLWJyaW5naW5nLWpwLWVuZ2VsZW4tb3Zlci1mcm9tLXBoaWxsaXB=
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TJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdX=
JjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW5=
0ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIyMTE4NDl9/66ddbe9=
9ef3c5b275c73733bcff7253715d48ce601229848268c6f0d108c563b" =
target=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1748463981717_WPIC_01JWC9659KWNDE0AZ1WZ4REG8H.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"600" =
alt=3D"Condition Report: Nicholas Acquavella and Jean-Paul Engelen" =
title=3D"Condition Report: Nicholas Acquavella and Jean-Paul Engelen" =
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 =
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 =
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:'PuckSerifD=
isplay','Georgia';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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
ljay1hY3F1YXZlbGxhLW9uLWJyaW5naW5nLWpwLWVuZ2VsZW4tb3Zlci1mcm9tLXBoaWxsaXB=
zLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJG=
MjglMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStJQytMRUFEUyslMjg1J=
TJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdX=
JjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW5=
0ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIyMTE4NDl9/66ddbe9=
9ef3c5b275c73733bcff7253715d48ce601229848268c6f0d108c563b" =
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">Condition =
Report: Nicholas Acquavella and Jean-Paul Engelen</span></a></h1>
</td></tr></tbody></table>
<table 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 style=3D"padding-left:24px;padding-right:24px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';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;">As =
Engelen leaves Phillips and heads over to the Acquavella gallery in =
July, I checked in
with him and Nick Acquavella about the century-old gallery, the rise of =
private dealers in the current market, and the =E2=80=9Cterrifying =
concept,=E2=80=9D in Nick=E2=80=99s words, that =E2=80=9Cno one needs =
what we sell.=E2=80=9D</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 =
style=3D"vertical-align:middle;color:#d40000;font-family:'PuckSerifDi=
splay','Georgia';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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93=
ZXIrLStJQytMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfY=
WN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNj=
E1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmt=
faWQiOjg0NzgxN30/19565db82117f9300db17b1015a61f14bfb72ffa405885abd877a12e=
55be583b" 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:'PuckSerifDisplay','Georgia';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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG9=
3ZXIrLStMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93=
ZXIrLStJQytMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfY=
WN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNj=
E1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmt=
faWQiOjg0NzgxN30/19565db82117f9300db17b1015a61f14bfb72ffa405885abd877a12e=
55be583b" 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:12px;vertical-=
align:top;">
<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;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';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;">Last =
week, <strong>Jean-Paul Engelen</strong> announced that he would be =
leaving his position as
president of the Americas at Phillips, a company he joined 10 years ago =
and helped scale to a billion dollars in sales. In July, he will be =
joining Acquavella gallery=E2=80=94one of the oldest art galleries still =
in business in America. His return to the private market seemed to me a =
good opportunity to learn more about Acquavella, and how dealers are =
operating these days.<br/><br/>So I got Jean-Paul and <strong>Nicholas =
Acquavella</strong>, a third-generation art dealer who works alongside =
his father and
two siblings, on Zoom to discuss the move...</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" =
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;vertical-align:top;">
<table class=3D"g 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 =
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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvbX=
ktYWNjb3VudC9iaWxsaW5nLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK1dhbGwrUG93ZXI=
rLStMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIr=
LStJQytMRUFEUyslMjg1JTJGMjglMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0a=
W9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZT=
NkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQ=
iOjY0NX0/defde3370d4adf5303aeb20a7d2324f0daedc2363001253bf7df3be5fba052f3=
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class=3D"m" style=3D"background-color:#d40000;border-bottom:2px solid =
#d40000;border-left:2px solid #d40000;border-radius:4px;border-right:2px =
solid #d40000;
border-top:2px solid =
#d40000;color:#ffffff;display:inline-block;font-family:'Inter',&#=
39;Arial';font-size:14px;font-weight:700;mso-border-alt:none;padding-=
bottom:8px;padding-top:8px;padding-left:0px;padding-right:0px;text-align:=
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>
</td></tr></tbody></table>
</td></tr></tbody></table>
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cellspacing=3D"0" role=3D"presentation" =
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<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"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 style=3D"padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';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>
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<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 =
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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzODMwNDQ5O2RjX2xhdD07=
ZGNfcmRpZD07dGFnX2Zvcl9jaGlsZF9kaXJlY3RlZF90cmVhdG1lbnQ9O3RmdWE9O2dkcHI9J=
CU3QkdEUFIlN0Q7Z2Rwcl9jb25zZW50PSQlN0JHRFBSX0NPTlNFTlRfNzU1JTdEO2x0ZD07ZG=
NfdGR2PTE_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI=
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8036b7c9e557420b4e2825bf8e7c79b3517de88dcee2f82c1c112e97ee462949" =
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height:auto;border:0;width:100%;" width=3D"552" alt=3D"Gucci" =
title=3D"Gucci" height=3D"auto"/></a></div></div>
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<table class=3D"j p n" 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;mso-hide:all;display:n=
one;max-height:0;overflow:hidden;"><tbody><tr><td =
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=
05LQUdYR09qb2RZUTlZNF81NUxxVVhhST0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzODMwNDQ5O2RjX2xhdD07=
ZGNfcmRpZD07dGFnX2Zvcl9jaGlsZF9kaXJlY3RlZF90cmVhdG1lbnQ9O3RmdWE9O2dkcHI9J=
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
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al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
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style=3D"margin:0;margin-bottom:0px;">A new campaign starring Julia =
Garner celebrates the House=E2=80=99s storied silk scarves and their =
enduring legacy within the
House=E2=80=99s design codes.</p><p style=3D"margin:0;"><br/><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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aspects of the business and its biggest players.
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and Sarah Shapiro, a longtime retail strategist who writes about =
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ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
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data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
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style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000;direction:ltr;font-family:'PuckSerifDisp=
lay','Georgia';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 =
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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">Jake Tapper=E2=80=99s =
Blacklist</a></h2>
</td></tr></tbody></table>
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cellspacing=3D"0" role=3D"presentation" =
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style=3D"color:#000;direction:ltr;font-family:'Inter','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>
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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" =
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
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style=3D"width:100%;padding-right:0px;padding-left:0px;"><div =
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style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:'PuckSerifD=
isplay','Georgia';font-size:32px;font-weight:400;letter-spaci=
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data-position=3D"10-1-0" data-qa=3D"tinyeditor-root-element" =
data-lt-tmp-id=3D"lt-44706" data-gramm=3D"false">Dasha Zhukova in =
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xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">MARION =
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