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Subject: After Action Report: Sotheby's Contemporary Day sale + Phillips Day sale
update
From: Artelligence <artelligence@substack.com>
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View this post on the web at https://artelligence.substack.com/p/after-acti=
on-report-sothebys-contemporary
Say Goodbye to Artelligence=E2=80=99s Gigaweek Coverage
Today is the last New York sales cycle newsletter. Next week we will return=
to our regular schedule with results and analysis on the entire two weeks =
on Tuesday followed by a free newsletter on Friday.=20
If you want to share some insights of your own, have suggestions for covera=
ge, a question you want us to poll our readers about, or simply want to ven=
t=E2=80=94feel free to =E2=80=A6
Subscriptions are $12 a month or $120 for a year. For organizations, we off=
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o sign up.
In This Issue
Sotheby=E2=80=99s Contemporary Day sale: $82m total; 1.05 hammer ratio; 83%=
sell-through rate
About the Last Two Weeks: Sotheby=E2=80=99s strength in Contemporary art co=
ntinues through the day sale
Vox Orbis Artis: How do you feel about the art market now?
Charts: Results, Top Ten by Premium, Top Ten by Hammer Ratio
Phillips Update: Yes, these Phillips updates are getting to be a thing. But=
the auction house updated their day sale results with five sales made imme=
diately after the auction. These lots are now included in the public result=
s. Here are the updated Phillips Day sale statistics:
The Dial
Sotheby=E2=80=99s Contemporary Day sale =3D $82m
John Cheim=E2=80=99s small Mitchell=E2=80=99s, a Lichtenstein and a Lee Bon=
tecou powered Sotheby=E2=80=99s Contemporary Day sale to a solid number tha=
t was only down 13% from the previous year=E2=80=99s sale. Contemporary art=
remains the most buoyant category in art.=20
About the Last Two Weeks
The total for all of the sales in the last two weeks was close to $2.15 bil=
lion which is a billion fewer dollars than this same set of sales last year=
=2E No one is surprised to learn that t=
he sales are down 33%. After all, that=
=E2=80=99s pretty much the drop we saw starting the year in Europe. Add to =
that the extraordinary circumstances surrounding 2022 and we should be able=
to conclude that the market has worked its way back to a more sustainable =
level. We=E2=80=99re now back at a level below 2021. Does the market rebuil=
d from here? Move sideways for a while? Or still have farther to fall?=20
Vox Orbis Artis
Charts...
Unsubscribe https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2V=
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</style></head><body class=3D"email-body" style=3D"font-kerning: auto;"><im=
g src=3D"https://eotrx.substackcdn.com/open?token=3DeyJtIjoiPDIwMjMxMTE3MTk=
wMDIxLjMuN2ZjNDg0ODhmNWQ5MTY0MkBtZzIuc3Vic3RhY2suY29tPiIsInUiOjEzMzI2ODY2MS=
wiciI6ImVuem9Ac2hvd2ZpbGUuY29tIiwiZCI6Im1nMi5zdWJzdGFjay5jb20iLCJwIjoxMzg5N=
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IiwiZiI6dHJ1ZSwicG9zaXRpb24iOiJ0b3AiLCJpYXQiOjE3MDAyNDc2NjcsImV4cCI6MTcwMjg=
zOTY2NywiaXNzIjoicHViLTAiLCJzdWIiOiJlbyJ9.vDMS4u1vkf5Yza668XxoWkXJ0kudWvu7_=
FHNmCYIj-4" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=3D"height:=
1px !important;width:1px !important;border-width:0 !important;margin-top:0 =
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right:0 !important;padding-left:0 !important;"/><div style=3D"display:none;=
font-size:1px;color:#333333;line-height:1px;max-height:0px;max-width:0px;op=
acity:0;overflow:hidden;" class=3D"preview">Last email of the New York sale=
s cycle  ‌ ‌ ‌ ‌ ‌&#=
160;‌ ‌ ‌ ‌ ‌ ‌=
; ‌ ‌ ‌ ‌ ‌ =
204; ‌ ‌ ‌ ‌ ‌ =
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#8204; ‌ ‌ ‌ ‌</div><table role=
=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=
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0" class=3D"content"><div style=3D"font-size: 16px; line-height: 26px; marg=
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le role=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cell=
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ontend-pencraft-Box-module__reset--VfQY8 frontend-pencraft-Text-module__res=
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or: rgb(128, 128, 128) !important; font-family: SF Pro Text, -apple-system,=
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coration: unset;"><span translated class=3D"pencraft frontend-pencraft-Box-=
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ecoration-underline--sj8pE frontend-pencraft-Text-module__reset--dW0zZ" sty=
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tr><td align=3D"center" style=3D"padding: 0; text-align: center;"><a href=
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jg2NjEsImlhdCI6MTcwMDI0NzY2NywiZXhwIjoxNzAyODM5NjY3LCJpc3MiOiJwdWItMCIsInN1=
YiI6ImxpbmstcmVkaXJlY3QifQ.wsQKHBEVW2lDsbs3frGBykaWRmPFtlZEQ74_PBKWpGQ?"><i=
mg role=3D"presentation" width=3D"550" height=3D"117" src=3D"https://substa=
ckcdn.com/image/fetch/w_1100,c_limit,f_auto,q_auto:good,fl_progressive:stee=
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de5dbd-aa76-4984-bfac-acb56639185e_2800x591.png" class=3D"header-image" sty=
le=3D"border: none !important; display: block; height: auto; margin: 0 auto=
; max-width: 550px; vertical-align: middle; width: 100%;"></a></td></tr></t=
able><div dir=3D"auto" class=3D"post typography" style=3D"font-size: 16px; =
line-height: 26px; padding: 16px 0 0 0;"><div class=3D"post-header" style=
=3D"font-size: 16px; line-height: 26px;"><h1 class=3D"post-title published"=
style=3D"-moz-appearance: optimizelegibility; -moz-osx-font-smoothing: ant=
ialiased; -webkit-appearance: optimizelegibility; -webkit-font-smoothing: a=
ntialiased; appearance: optimizelegibility; color: rgb(64, 64, 64); font-fa=
mily: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', =
Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji'=
, 'Segoe UI Symbol'; font-size: 32px; font-weight: bold; line-height: 36px;=
margin: 0;"><a href=3D"https://substack.com/app-link/post?publication_id=
=3D2259&post_id=3D138949015&utm_source=3Dpost-email-title&utm_campaign=3Dem=
ail-post-title&isFreemail=3Dtrue&r=3D27cer9&token=3DeyJ1c2VyX2lkIjoxMzMyNjg=
2NjEsInBvc3RfaWQiOjEzODk0OTAxNSwiaWF0IjoxNzAwMjQ3NjY3LCJleHAiOjE3MDI4Mzk2Nj=
csImlzcyI6InB1Yi0yMjU5Iiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.u7UjX8y9ulrzoWTurvt1=
1DfqRV1oRODgHh_SBBqffFI" style=3D"color: rgb(64, 64, 64); text-decoration: =
none;">After Action Report: Sotheby's Contemporary Day sale + Phillips Day =
sale update</a></h1><h3 class=3D"subtitle" style=3D"-moz-appearance: optimi=
zelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: opt=
imizelegibility; -webkit-font-smoothing: antialiased; appearance: optimizel=
egibility; color: #808080; font-family: 'SF Compact Display', -apple-system=
, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Ap=
ple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 18px; fon=
t-weight: normal; line-height: 24px; margin: 4px 0 0; margin-top: 12px;"> L=
ast email of the New York sales cycle</h3><table role=3D"presentation" widt=
h=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" class=3D"post-m=
eta" style=3D"align-items: center; height: 20px; margin: 1em 0;"><tr><td><t=
able role=3D"presentation" width=3D"auto" border=3D"0" cellspacing=3D"0" ce=
llpadding=3D"0"><tr><td><table role=3D"presentation" width=3D"auto" border=
=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td style=3D"vertical-align:=
middle;"><div class=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8=
frontend-pencraft-Text-module__size-11--k1e8b frontend-pencraft-Text-modul=
e__line-height-20--p0dP8 frontend-pencraft-Text-module__weight-medium--x7kh=
A frontend-pencraft-Text-module__font-meta--U_nxy frontend-pencraft-Text-mo=
dule__color-primary--ud4Z0 frontend-pencraft-Text-module__transform-upperca=
se--IDkUL frontend-pencraft-Text-module__reset--dW0zZ frontend-pencraft-Tex=
t-module__meta--jzHdd custom-css-email-post-author" style=3D"color: rgb(64,=
64, 64); font-family: 'SF Compact', -apple-system, -apple-system, -system-=
ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, '=
Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; f=
ont-weight: 500; letter-spacing: .2px; line-height: 20px; margin: 0; text-d=
ecoration: unset; text-transform: uppercase;"><a style=3D"color: rgb(64, 64=
, 64); font-family: 'SF Compact', -apple-system, -apple-system, -system-ui,=
BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'App=
le Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; font=
-weight: 500; letter-spacing: .2px; line-height: 20px; margin: 0; text-deco=
ration: none; text-transform: uppercase;" href=3D"https://substack.com/@art=
elligence" class=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8 fro=
ntend-pencraft-Text-module__size-11--k1e8b frontend-pencraft-Text-module__l=
ine-height-20--p0dP8 frontend-pencraft-Text-module__weight-medium--x7khA fr=
ontend-pencraft-Text-module__font-meta--U_nxy frontend-pencraft-Text-module=
__color-primary--ud4Z0 frontend-pencraft-Text-module__transform-uppercase--=
IDkUL frontend-pencraft-Text-module__reset--dW0zZ frontend-pencraft-Text-mo=
dule__meta--jzHdd">Marion Maneker</a></div></td></tr></table></td></tr><tr>=
<td><table role=3D"presentation" width=3D"auto" border=3D"0" cellspacing=3D=
"0" cellpadding=3D"0"><tr><td style=3D"vertical-align: middle;"><div class=
=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8 frontend-pencraft-T=
ext-module__size-11--k1e8b frontend-pencraft-Text-module__line-height-20--p=
0dP8 frontend-pencraft-Text-module__weight-medium--x7khA frontend-pencraft-=
Text-module__font-meta--U_nxy frontend-pencraft-Text-module__color-secondar=
y--WRADg frontend-pencraft-Text-module__transform-uppercase--IDkUL frontend=
-pencraft-Text-module__reset--dW0zZ frontend-pencraft-Text-module__meta--jz=
Hdd" style=3D"color: rgb(128, 128, 128); font-family: 'SF Compact', -apple-=
system, -apple-system, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, =
Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe=
UI Symbol'; font-size: 11px; font-weight: 500; letter-spacing: .2px; line-=
height: 20px; margin: 0; text-decoration: unset; text-transform: uppercase;=
"><time dateTime=3D"2023-11-17T19:00:27.069Z">Nov 17</time></div></td><td w=
idth=3D"4" style=3D"min-width: 4px"></td><td style=3D"vertical-align: middl=
e;"><table role=3D"presentation" width=3D"auto" border=3D"0" cellspacing=3D=
"0" cellpadding=3D"0"><tr><td style=3D"vertical-align: middle;"><div class=
=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8 frontend-pencraft-T=
ext-module__size-11--k1e8b frontend-pencraft-Text-module__line-height-20--p=
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Text-module__font-meta--U_nxy frontend-pencraft-Text-module__color-secondar=
y--WRADg frontend-pencraft-Text-module__transform-uppercase--IDkUL frontend=
-pencraft-Text-module__reset--dW0zZ frontend-pencraft-Text-module__meta--jz=
Hdd" style=3D"color: rgb(128, 128, 128); font-family: 'SF Compact', -apple-=
system, -apple-system, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, =
Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe=
UI Symbol'; font-size: 11px; font-weight: 500; letter-spacing: .2px; line-=
height: 20px; margin: 0; text-decoration: unset; text-transform: uppercase;=
">∙</div></td><td width=3D"4" style=3D"min-width: 4px"></td><td style=
=3D"vertical-align: middle;"><div class=3D"pencraft frontend-pencraft-Box-m=
odule__reset--VfQY8 frontend-pencraft-Text-module__size-11--k1e8b frontend-=
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weight-medium--x7khA frontend-pencraft-Text-module__font-meta--U_nxy fronte=
nd-pencraft-Text-module__color-accent-purple--XfjiI frontend-pencraft-Text-=
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0zZ frontend-pencraft-Text-module__meta--jzHdd" style=3D"color: #702dff; fo=
nt-family: 'SF Compact', -apple-system, -apple-system, -system-ui, BlinkMac=
SystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color =
Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; font-weight: =
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nset; text-transform: uppercase;">Preview</div></td></tr></table></td></tr>=
</table></td></tr></table></td></tr></table><table role=3D"presentation" wi=
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style=3D"color: #ffffff; text-decoration: none;">Upgrade to paid</span></a>=
</p></div><div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"b=
ackground: #e0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"=
></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-appearance: op=
timizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance:=
optimizelegibility; -webkit-font-smoothing: antialiased; appearance: optim=
izelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -=
apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, san=
s-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-siz=
e: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0=
; position: relative;">In This Issue</h2><ol style=3D"margin-top: 0; paddin=
g: 0;"><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-b=
ox; color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0; =
margin-bottom: 0; padding-left: 4px;"><strong>Sotheby’s Contemporary =
Day sale</strong><span>: $82m total; 1.05 hammer ratio; 83% sell-through ra=
te</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizin=
g: border-box; color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; =
margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>About the Last Two=
Weeks: </strong><span>Sotheby’s strength in Contemporary art continu=
es through the day sale</span></p></li><li style=3D"margin: 8px 0 0 32px;">=
<p style=3D"box-sizing: border-box; color: rgb(64, 64, 64); font-size: 16px=
; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><stro=
ng>Vox Orbis Artis:</strong><span> How do you feel about the art market now=
?</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing=
: border-box; color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; m=
argin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Charts: </strong><s=
pan>Results, Top Ten by Premium, Top Ten by Hammer Ratio</span></p></li><li=
style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; color:=
rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0; m=
argin-bottom: 0; padding-left: 4px;"><strong>Phillips Update:</strong><span=
> Yes, these Phillips updates are getting to be a thing. But the auction ho=
use updated their day sale results with five sales made immediately after t=
he auction. These lots are now included in the public results. Here are the=
updated Phillips Day sale statistics:</span></p><div class=3D"captioned-im=
age-container-static" style=3D"font-size: 16px; line-height: 26px; margin: =
32px auto; margin-bottom: 0;"><figure style=3D"margin: 0 auto; width: 100%;=
"><table class=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=3D=
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o-padding-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"><=
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;resizeWidth":null,"bytes":308569,"alt":null,"=
;title":null,"type":"image/png","href":n=
ull,"belowTheFold":true,"topImage":false,"internal=
Redirect":null}" alt width=3D"550" height=3D"288.22115384615387" class=
=3D"wide-image" src=3D"https://substackcdn.com/image/fetch/w_2912,c_limit,f=
_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3=
=2Eamazonaws.com%2Fpublic%2Fimages%2F0d=
8ec151-2155-48e6-b117-744b0d1ea267_195=
4x1024.png" style=3D"-ms-interpolation-mode: bicubic; border: none !importa=
nt; display: block; height: auto; margin: 0 auto; margin-bottom: 0; max-wid=
th: 100% !important; vertical-align: middle; width: auto !important;"></a><=
/td><td style=3D"text-align: center;"></td></tr></tbody></table></figure></=
div></li></ol><div style=3D"font-size: 16px; line-height: 26px;"><hr style=
=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px 0; padding=
: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-appearanc=
e: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appear=
ance: optimizelegibility; -webkit-font-smoothing: antialiased; appearance: =
optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact Displa=
y', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial=
, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; fon=
t-size: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.62=
5em 0; position: relative;">The Dial</h2><p style=3D"color: rgb(64, 64, 64)=
; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><strong>Sotheby&=
#8217;s Contemporary Day sale =3D $82m</strong></p><div class=3D"captioned-=
image-container-static" style=3D"font-size: 16px; line-height: 26px; margin=
: 32px auto;"><figure style=3D"margin: 0 auto; width: 100%;"><table class=
=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpaddin=
g=3D"0" data-component-name=3D"Image2ToDOMStatic" style=3D"mso-padding-alt:=
1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td align=
=3D"left" class=3D"content" width=3D"412" style=3D"text-align: center;"><a =
class=3D"image-link" target=3D"_blank" href=3D"https://substack.com/redirec=
t/e2c5733e-477d-4e6e-bda5-1c0d17e76921?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0j=
QmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"align-items: center; border: =
none; display: block; flex-direction: column; height: auto; margin: 0; padd=
ing: 0; position: relative; text-decoration: none; width: auto;"><img data-=
attrs=3D"{"src":"https://substack-post-media.s3.amazonaws.co=
m/public/images/d91967c6-3799-4f1b-89eb-920c219607e8_1024x1024.png",&q=
uot;srcNoWatermark":null,"fullscreen":null,"imageSize&q=
uot;:null,"height":1024,"width":1024,"resizeWidth&=
quot;:412,"bytes":125498,"alt":null,"title":n=
ull,"type":"image/png","href":null,"belo=
wTheFold":true,"topImage":false,"internalRedirect"=
:null}" alt width=3D"412" height=3D"412" class src=3D"https://substackcdn.c=
om/image/fetch/w_412,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%=
3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd91967c6-3=
799-4f1b-89eb-920c219607e8_1024x1024.png" style=3D"-ms-interpolation-mode: =
bicubic; border: none !important; display: block; height: auto; margin: 0 a=
uto; margin-bottom: 0; max-width: 100% !important; vertical-align: middle; =
width: auto !important;"></a></td><td style=3D"text-align: center;"></td></=
tr></tbody></table></figure></div><p style=3D"color: rgb(64, 64, 64); font-=
size: 16px; line-height: 26px; margin: 0 0 20px 0;">John Cheim’s smal=
l Mitchell’s, a Lichtenstein and a Lee Bontecou powered Sotheby’=
;s Contemporary Day sale to a solid number that was only down 13% from the =
previous year’s sale. Contemporary art remains the most buoyant categ=
ory in art. </p><div style=3D"font-size: 16px; line-height: 26px;"><hr styl=
e=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px 0; paddin=
g: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-appearan=
ce: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appea=
rance: optimizelegibility; -webkit-font-smoothing: antialiased; appearance:=
optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact Displ=
ay', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Aria=
l, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; fo=
nt-size: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.6=
25em 0; position: relative;">About the Last Two Weeks</h2><p style=3D"color=
: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"=
>The total for all of the sales in the last two weeks was close to $2.15 bi=
llion which is a billion fewer dollars than this same set of sales last yea=
r. No one is surprised to learn that the sales are down 33%. After all, tha=
t’s pretty much the drop we saw starting the year in Europe. Add to t=
hat the extraordinary circumstances surrounding 2022 and we should be able =
to conclude that the market has worked its way back to a more sustainable l=
evel. We’re now back at a level below 2021. Does the market rebuild f=
rom here? Move sideways for a while? Or still have farther to fall? </p><di=
v style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e=
0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"></div><h2 cl=
ass=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimizelegibil=
ity; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegi=
bility; -webkit-font-smoothing: antialiased; appearance: optimizelegibility=
; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-system,=
BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'App=
le Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; f=
ont-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; position: r=
elative;">Vox Orbis Artis</h2><table cellSpacing=3D"16px" width=3D"100%" cl=
ass=3D"poll-embed poll-email" style=3D"margin: 32px auto; max-width: 600px;=
"><tbody><tr><td align=3D"center"><table role=3D"presentation" width=3D"aut=
o" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" data-component-name=3D"=
StaticPoll" class=3D"poll-email-wrapper" style=3D"border: 1px solid rgba(0,=
0, 0, .13); border-radius: 12px; color: rgb(64, 64, 64); font-family: -app=
le-system, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, A=
rial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';=
padding: 16px 16px 8px; width: 100%;"><tr><td><table role=3D"presentation"=
width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td cl=
ass=3D"poll-header" style=3D"color: rgb(128, 128, 128); font-size: 12px; fo=
nt-weight: 500; line-height: 20px; margin-bottom: 4px; padding: 0;">POLL</t=
d></tr><tr width=3D"100%" class=3D"poll-question" style=3D"color: rgb(64, 6=
4, 64); font-family: 'SF Pro Display', -apple-system-headline, -apple-syste=
m, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sa=
ns-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-si=
ze: 20px; font-weight: 700; line-height: 32px; margin-bottom: 8px; vertical=
-align: top;"><td>How did you view the last two weeks?</td></tr><tr><td><ta=
ble role=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cel=
lpadding=3D"0" class=3D"poll-options" style=3D"border-spacing: 0 12px;"><tr=
><td width=3D"100%" class=3D"poll-option"><a href=3D"https://substack.com/r=
edirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY2suY29tL2FwaS92MS9wb=
2xsL3ZvdGUvZW1haWw_dG9rZW49ZXlKMWMyVnlYMmxrSWpveE16TXlOamcyTmpFc0luQnZjM1Jm=
YVdRaU9qRXpPRGswT1RBeE5Td2ljRzlzYkY5cFpDSTZNVEl3TnprNUxDSndiMnhzWDI5d2RHbHZ=
ibDlwWkNJNk16a3lORFl3TENKcFlYUWlPakUzTURBeU5EYzJOamNzSW1WNGNDSTZNVGN3TWpnek=
9UWTJOeXdpYVhOeklqb2ljSFZpTFRJeU5Ua2lMQ0p6ZFdJaU9pSndiMnhzTFhadmRHVWlmUS5Gb=
WtRZVZPbnVwMVE4c1F4ckhmRG1CQVQ5b3pzdmRlQVJQM3cwZzdVV0s4IiwicCI6MTM4OTQ5MDE1=
LCJzIjoyMjU5LCJmIjp0cnVlLCJ1IjoxMzMyNjg2NjEsImlhdCI6MTcwMDI0NzY2NywiZXhwIjo=
xNzAyODM5NjY3LCJpc3MiOiJwdWItMCIsInN1YiI6ImxpbmstcmVkaXJlY3QifQ.ewNx-5xmplV=
7cwuWS6V2XqczD_CpA7mEAqM7zzlHaMw?" width=3D"100%" class=3D"poll-vote-link" =
style=3D"background-color: rgb(238, 238, 238); border: 1px solid rgba(0, 0,=
0, .13); border-radius: 6px; color: rgb(128, 128, 128); display: block; he=
ight: 100%; padding: 10px 0; text-align: center; text-decoration: none; wid=
th: 100%;"><div class=3D"poll-vote-contents" style=3D"color: rgb(64, 64, 64=
); display: block; font-size: 14px; font-weight: 600; height: 100%; line-he=
ight: 20px; width: 100%;">Still overpriced</div></a></td></tr><tr><td width=
=3D"100%" class=3D"poll-option"><a href=3D"https://substack.com/redirect/2/=
eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY2suY29tL2FwaS92MS9wb2xsL3ZvdGU=
vZW1haWw_dG9rZW49ZXlKMWMyVnlYMmxrSWpveE16TXlOamcyTmpFc0luQnZjM1JmYVdRaU9qRX=
pPRGswT1RBeE5Td2ljRzlzYkY5cFpDSTZNVEl3TnprNUxDSndiMnhzWDI5d2RHbHZibDlwWkNJN=
k16a3lORFl4TENKcFlYUWlPakUzTURBeU5EYzJOamNzSW1WNGNDSTZNVGN3TWpnek9UWTJOeXdp=
YVhOeklqb2ljSFZpTFRJeU5Ua2lMQ0p6ZFdJaU9pSndiMnhzTFhadmRHVWlmUS5ReVc2RUI1UTh=
WdERaM2FzcDNfTVY4dExYQnlkb3JXTEwzcFc0N1VOZnMwIiwicCI6MTM4OTQ5MDE1LCJzIjoyMj=
U5LCJmIjp0cnVlLCJ1IjoxMzMyNjg2NjEsImlhdCI6MTcwMDI0NzY2NywiZXhwIjoxNzAyODM5N=
jY3LCJpc3MiOiJwdWItMCIsInN1YiI6ImxpbmstcmVkaXJlY3QifQ.JuRQW6dQ85kXs2zOSWCcD=
RnN_yC3VCVhOVrfmSOuRSw?" width=3D"100%" class=3D"poll-vote-link" style=3D"b=
ackground-color: rgb(238, 238, 238); border: 1px solid rgba(0, 0, 0, .13); =
border-radius: 6px; color: rgb(128, 128, 128); display: block; height: 100%=
; padding: 10px 0; text-align: center; text-decoration: none; width: 100%;"=
><div class=3D"poll-vote-contents" style=3D"color: rgb(64, 64, 64); display=
: block; font-size: 14px; font-weight: 600; height: 100%; line-height: 20px=
; width: 100%;">Looked (maybe bid) but didn't buy</div></a></td></tr><tr><t=
d width=3D"100%" class=3D"poll-option"><a href=3D"https://substack.com/redi=
rect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY2suY29tL2FwaS92MS9wb2xs=
L3ZvdGUvZW1haWw_dG9rZW49ZXlKMWMyVnlYMmxrSWpveE16TXlOamcyTmpFc0luQnZjM1JmYVd=
RaU9qRXpPRGswT1RBeE5Td2ljRzlzYkY5cFpDSTZNVEl3TnprNUxDSndiMnhzWDI5d2RHbHZibD=
lwWkNJNk16a3lORFl5TENKcFlYUWlPakUzTURBeU5EYzJOamNzSW1WNGNDSTZNVGN3TWpnek9UW=
TJOeXdpYVhOeklqb2ljSFZpTFRJeU5Ua2lMQ0p6ZFdJaU9pSndiMnhzTFhadmRHVWlmUS5KRmp5=
LVRTUGpVMW5KaVloNGllWE1NQk1ZZldkenhRN1VvU2JyS0kwSUMwIiwicCI6MTM4OTQ5MDE1LCJ=
zIjoyMjU5LCJmIjp0cnVlLCJ1IjoxMzMyNjg2NjEsImlhdCI6MTcwMDI0NzY2NywiZXhwIjoxNz=
AyODM5NjY3LCJpc3MiOiJwdWItMCIsInN1YiI6ImxpbmstcmVkaXJlY3QifQ.KDQXaBWkdqfHz2=
wBpHUVGoHiMAislD8zrPvZwgeS7eE?" width=3D"100%" class=3D"poll-vote-link" sty=
le=3D"background-color: rgb(238, 238, 238); border: 1px solid rgba(0, 0, 0,=
.13); border-radius: 6px; color: rgb(128, 128, 128); display: block; heigh=
t: 100%; padding: 10px 0; text-align: center; text-decoration: none; width:=
100%;"><div class=3D"poll-vote-contents" style=3D"color: rgb(64, 64, 64); =
display: block; font-size: 14px; font-weight: 600; height: 100%; line-heigh=
t: 20px; width: 100%;">Picked up a few good things</div></a></td></tr><tr><=
td width=3D"100%" class=3D"poll-option"><a href=3D"https://substack.com/red=
irect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY2suY29tL2FwaS92MS9wb2x=
sL3ZvdGUvZW1haWw_dG9rZW49ZXlKMWMyVnlYMmxrSWpveE16TXlOamcyTmpFc0luQnZjM1JmYV=
dRaU9qRXpPRGswT1RBeE5Td2ljRzlzYkY5cFpDSTZNVEl3TnprNUxDSndiMnhzWDI5d2RHbHZib=
DlwWkNJNk16a3lORFl6TENKcFlYUWlPakUzTURBeU5EYzJOamNzSW1WNGNDSTZNVGN3TWpnek9U=
WTJOeXdpYVhOeklqb2ljSFZpTFRJeU5Ua2lMQ0p6ZFdJaU9pSndiMnhzTFhadmRHVWlmUS40Z21=
pa0JsTURNN2VLNV81UTd3X3l4LTVuVnFRY1VOMkpNVTU2aS1QVXBjIiwicCI6MTM4OTQ5MDE1LC=
JzIjoyMjU5LCJmIjp0cnVlLCJ1IjoxMzMyNjg2NjEsImlhdCI6MTcwMDI0NzY2NywiZXhwIjoxN=
zAyODM5NjY3LCJpc3MiOiJwdWItMCIsInN1YiI6ImxpbmstcmVkaXJlY3QifQ.8kPkJ71IlBt-Q=
IZaBnB1SIsQRat-1L3QhEJ45_wo9ww?" width=3D"100%" class=3D"poll-vote-link" st=
yle=3D"background-color: rgb(238, 238, 238); border: 1px solid rgba(0, 0, 0=
, .13); border-radius: 6px; color: rgb(128, 128, 128); display: block; heig=
ht: 100%; padding: 10px 0; text-align: center; text-decoration: none; width=
: 100%;"><div class=3D"poll-vote-contents" style=3D"color: rgb(64, 64, 64);=
display: block; font-size: 14px; font-weight: 600; height: 100%; line-heig=
ht: 20px; width: 100%;">This is the bottom. Start buying.</div></a></td></t=
r></table></td></tr></table></td></tr></table></td></tr></tbody></table><di=
v style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e=
0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"></div><h2 cl=
ass=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimizelegibil=
ity; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegi=
bility; -webkit-font-smoothing: antialiased; appearance: optimizelegibility=
; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-system,=
BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'App=
le Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; f=
ont-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; margin-bott=
om: 0; position: relative;">Charts...</h2></div></div><div data-testid=3D"p=
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Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 16px; line-he=
ight: 26px; margin-bottom: 16px; margin-top: 6px; padding: 32px 24px 16px 2=
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t !important; font-family: 'SF Compact Display', -apple-system, BlinkMacSys=
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ji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 22px; font-weight: 700=
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