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Subject: =?UTF-8?q?The_Inigo_Comeback_&_Pappajohns=E2=80=99_Jasper_Johns?=
From: Marion Maneker <marion@puck.news>
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Welcome back to Wall Power, my biweekly take on what=E2=80=99s really going=
on behind the scenes in the art market. I=E2=80=99ve been trying to avoid =
writing any more about Inigo Philbrick since that Vanity Fair article, whic=
h seemed like his first attempt at a triumphant return to the art market si=
nce leaving prison. That was cringe, as the kids say. But recently there ha=
ve been more developments that suggest Inigo=E2=80=99s comeback tour has of=
ficially kicked off.
=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=
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=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=
=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=
=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=C2=A0=
=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=
=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=
=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=
=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0
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WELCOME BACK!
You=E2=80=99re receiving a complimentary version of Wall Power as a welcome=
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Welcome back to Wall Power, my biweekly take on what=E2=80=99s really going=
on behind the scenes in the art market. I=E2=80=99m Marion Maneker.
I=E2=80=99ve been trying to avoid writing any more about Inigo Philbrick si=
nce that Vanity Fair article, which seemed like his first attempt at a triu=
mphant return to the art market since leaving prison. That was cringe, as t=
he kids say. But recently there have been more developments that suggest In=
igo=E2=80=99s comeback tour has officially kicked off.
If the name isn=E2=80=99t familiar to you, Inigo=E2=80=99s secondary market=
dealing came to a screeching halt in 2019 when his various counterparties =
realized he=E2=80=99d been running a classic Peter-Paul scam. In the end, h=
e pleaded guilty to fraud to the tune of $86 million. (He now disputes that=
figure.) Also, it seems like he=E2=80=99s come to
believe his own publicity suggesting that he=E2=80=99s some sort of loveabl=
e rogue. With that in mind, I spoke to several people in the art market who=
had dealings with Inigo in the past. I=E2=80=99ll tell you what they said =
and what I=E2=80=99ve observed.
A MESSAGE FROM OUR SPONSOR
$(ad4_title) ( https://www.christies.com/events/20th-21st-century-new-york/=
what-is-on?cid=3DEM_DIS_puck_MSLP_VHG_2021M__2021CNY0524_EN__nwsltr600x400 =
)
Discover the compelling, narrative art of Reggie Burrows Hodges, among othe=
r rising stars in our 20th and 21st Century Art auctions in New York. ( htt=
ps://www.christies.com/events/20th-21st-century-new-york/what-is-on?cid=3DE=
M_DIS_puck_MSLP_VHG_2021M__2021CNY0524_EN__nwsltr600x400text )
But, first=E2=80=A6
* Private view: Starting on May 10, I=E2=80=99ll be hosting a private SMS c=
hannel for Wall Power subscribers. Wall Power SMS will give you my commenta=
ry on auctions, art fairs, and gallery and museum shows while I=E2=80=99m o=
ut in the wild. Think of it as real-time access to me. (Don=E2=80=99t worry=
, the channel allows you to text me directly but not the whole group.) If y=
ou=E2=80=99ve got a good question, I=E2=80=99ll try to answer it for you an=
d everyone else. You=E2=80=99ll receive an email tomorrow explaining how to=
sign up.
* The Pappajohns=E2=80=99 Johns: Many important estates are waiting out thi=
s season to see where the market goes. But the heirs of Iowa venture capita=
list
John Pappajohn and his wife, Mary, have decided to plunge ahead. An early i=
nvestor in Caremark, Pappajohn was also an early buyer of Jasper Johns=E2=
=80=94including one of the artist=E2=80=99s number paintings, from a series=
that recently got a boost from an exhibition at the Philadelphia Museum th=
at essentially put those works on par with Johns=E2=80=99 breakthrough pain=
tings of flags and targets. The Pappajohns=E2=80=99 0 through 9 (1961), mad=
e from Sculp-metal, comes from early in the series and is estimated at $5 m=
illion. The work also debuted in Johns=E2=80=99 first European show at the =
Galerie Rive Droite in 1961. However, there are few examples at public auct=
ion to use as comparables.
Another artist in the Pappajohns=E2=80=99 collection, Bruce Nauman, also ha=
s few comparables. But his neon work from 1985, Hanged Man, one of an editi=
on of three, is estimated at $4 million. Other neon works have sold for pri=
ces from $2.7 million to $4 million. One sale of
a neon work=E2=80=94Pain, from 1983=E2=80=94is the artist=E2=80=99s high-wa=
ter mark at $8.9 million.
The final top painting in the collection is Agnes Martin=E2=80=99s Untitled=
#7, from 1996, estimated at $3 million. A similar work from the same year =
was sold a year ago for $4.16 million.
https://images.scalero.io/email_assets/4014/XCRN39L1J2WXBI3JU71YXTIRRVB1VKR=
I1E8JN1UBZH4LKDNHKSO837C3R8ZIFPWO.jpg
Jasper Johns, 0 through 9 (1961), estimated at $5 million
You=E2=80=99re receiving a complimentary version of Wall Power at enzo@show=
file.com as a welcome gift to new readers. For full access to Puck, and to =
each of my colleagues, you can
subscribe here ( https://puck.news/join/?utm_campaign=3DWall+Power+-+LEADS+=
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dium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d2=
8 ).
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Inigo Time ( https://puck.news/inigo-philbrick-kicks-off-his-comeback-tour/=
?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Pow=
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r.io&utm_term=3Df6c60615e3d301d48d28 )
Inigo Time ( https://puck.news/inigo-philbrick-kicks-off-his-comeback-tour/=
?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Pow=
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r.io&utm_term=3Df6c60615e3d301d48d28 )
News, notes, and fresh reporting on Inigo Philbrick=E2=80=99s attempt to re=
habilitate himself and get back in the game after his $86 million fraud.
MARION MANEKER ( https://puck.news/author/marion-maneker/?utm_campaign=3DWa=
ll+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Power+-+LEADS+%284%2F=
14%2F24%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6=
c60615e3d301d48d28 )
MARION MANEKER ( https://puck.news/author/marion-maneker/?utm_campaign=3DWa=
ll+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Power+-+LEADS+%284%2F=
14%2F24%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6=
c60615e3d301d48d28 )
This month, Inigo Philbrick and his wife, Victoria Baker-Harber, have parti=
cipated in splashy, confessional stories in both Vanity Fair and The Times =
of London. Philbrick, of course, was released from federal prison in March =
after serving less than four years of a seven-year sentence for an extensiv=
e fraud scheme wherein he sold =E2=80=9Cmore than 100 percent ownership in =
an artwork to multiple individuals and entities without their knowledge=E2=
=80=9D and also =E2=80=9Csold and used art as collateral for loans without =
informing his co-owners or disclosing those ownership stakes to his lenders=
,=E2=80=9D according to the prosecutors who put him behind bars.
The Times story revealed that Philbrick and Baker-Harber, whose own claim t=
o fame was a villainous turn on British reality series Made in Chelsea, are
also writing a book together and have been cooperating with the BBC on a th=
ree-part documentary. Separately, his former friend and employee, Orlando W=
hitfield, has a memoir out later this week in London, entitled All That Gli=
tters: A Story of Friendship, Fraud, and Fine Art ( https://www.penguinrand=
omhouse.com/books/703052/all-that-glitters-by-orlando-whitfield/?utm_campai=
gn=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Power+-+LEADS+=
%284%2F14%2F24%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_te=
rm=3Df6c60615e3d301d48d28 ). (Whitfield=E2=80=99s book is being developed f=
or HBO by Bad Wolf, the production company behind Industry, the show about =
sex-drugs-and-love among the junior investment banking set that has been re=
newed for a third season.)
Some people might want to disappear after such an ordeal, but Philbrick and=
Baker-Harber seem blithely eager to rehabilitate their image
and return to the art world=E2=80=94a profession where you can=E2=80=99t ge=
t disbarred and a dealer=E2=80=99s stint in prison might even appeal to a r=
ogue collector or two. The couple fantasized to the Times that they=E2=80=
=99d approve Margot Robbie and Timoth=C3=A9e Chalamet portraying them. Inig=
o, who is 37 years old but got his start in the business more than a decade=
ago, was particularly generous to Chalamet, conceding that the young actor=
was qualified to play him because =E2=80=9Che=E2=80=99d have the range.=E2=
=80=9D
There=E2=80=99s a distinct lack of contrition in these public statements. =
=E2=80=9CI don=E2=80=99t think that anyone in this whole story is guilty of=
much more than greed and ambition,=E2=80=9D Inigo told the Times ( https:/=
/www.thetimes.co.uk/article/he-masterminded-an-86m-art-fraud-and-doesnt-fee=
l-guilty-b9wm59h8w?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_=
content=3DWall+Power+-+LEADS+%284%2F14%2F24%29&utm_medium=3Demail_action&ut=
m_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ). =E2=80=9CEveryone=
knew that things were being financed on a kite string. That doesn=E2=80=99=
t excuse me, but that=E2=80=99s a big part of the story.=E2=80=9D He then h=
e seemed to exculpate himself further by noting that his victims weren=E2=
=80=99t really hurt by his actions. =E2=80=9CWe=E2=80=99re dealing with a l=
ot of people who have real generational wealth,=E2=80=9D he insisted, with =
Baker-Harber adding that, to his victims, this was only =E2=80=9CMonopoly m=
oney.=E2=80=9D
Inigo also seems to believe that the most serious crimes were committed not=
by him but by Robert Newland, a former management consultant and colleague=
who became his business manager. Newland, too, was convicted and is servin=
g a nearly two-year prison sentence. =E2=80=9CI was tremendously successful=
,=E2=80=9D Philbrick said, =E2=80=9Cand my mistake was listening to a guy w=
ho
told me I could be that and more.=E2=80=9D It=E2=80=99s true that Newland u=
nlocked additional funds for Philbrick=E2=80=99s compulsive trading. =E2=80=
=9CI would never have had an offshore company nor an art-backed loan had I =
not met Robert Newland,=E2=80=9D he told Vanity Fair ( https://www.vanityfa=
ir.com/style/inigo-philbrick-confessions?utm_campaign=3DWall+Power+-+LEADS+=
%284%2F30%2F24%29&utm_content=3DWall+Power+-+LEADS+%284%2F14%2F24%29&utm_me=
dium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d2=
8 ). But that=E2=80=99s a bit like blaming the guy who got you a hot Ferrar=
i for the damage you caused in a speeding wreck. Inigo was the one with his=
foot on the accelerator.
Excessive nouveau riche spending habits seemed to be part of the compulsion=
=2E Whitfield details plenty of high-fl=
ying details about their professional=20=
exploits: a last-minute trip to New York where the two men stayed in a thre=
e-bedroom Plaza suite with a butler; meetings at the Connaught hotel
bar over Dom P=C3=A9rignon; and ornate dinners at Cipriani to choreograph a=
n interaction that only took seconds. Flouting the consequences of such min=
dless profligacy and feeling socially superior seem to have been the goal, =
even if Inigo now justifies his bonfire of the luxuries as business expense=
s. =E2=80=9CI always drank too much,=E2=80=9D he told Vanity Fair, =E2=80=
=9Cbut would always stagger away with a couple of deals done. =E2=80=A6 I s=
pent money on clothes, but there=E2=80=99s no unshod art dealer, and privat=
e planes were a great setting for closing deals.=E2=80=9D According to Whit=
field=E2=80=99s book, he was also spending thousands of dollars a day up un=
til nearly the end.
Somehow, Inigo can=E2=80=99t see that his own spending was what was getting=
him in so deep. =E2=80=9CUntil the very last moment,=E2=80=9D he told Vani=
ty Fair, =E2=80=9CI=E2=80=99d been squaring off debts, paying out profits, =
and closing accounts.=E2=80=9D In Philbrick=E2=80=99s narrative, even his 2=
019 disappearance in Vanuatu, a country with no extradition
treaty with the U.S., has been transformed into a failure of others to find=
him. As he told the Times, he wasn=E2=80=99t hiding since he was using his=
own name and passport while traveling. =E2=80=9CIf I wanted to hide and wa=
s trying to not get extradited, we=E2=80=99d have gone to Russia, we=E2=80=
=99d have gone to Iran,=E2=80=9D he said.
A MESSAGE FROM OUR SPONSOR
$(ad2_title) ( https://www.christies.com/events/20th-21st-century-new-york/=
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Takako Yamaguchi=E2=80=99s geometric abstractions always invite another loo=
k. Discover this and other in-demand art in our 20th and 21st Century Art a=
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ew-york/what-is-on?cid=3DEM_DIS_puck_MSLP_VHG_2021M__2021CNY0524_EN__nwsltr=
600x400text )
Inigo Fiction
Inigo is hardly the main character of Whitfield=E2=80=99s self-flagellating=
memoir, but the book serves as a character study of sorts. Time and again,=
Philbrick uses his friend, often simply to feel superior. Maddeningly, Whi=
tfield seems in awe of Philbrick and, to his own detriment, in love with hi=
m. =E2=80=9CThis book isn=E2=80=99t journalism,=E2=80=9D he writes, =E2=80=
=9Cfor there can be no objectivity where love has lived.=E2=80=9D
I=E2=80=99ve had my own interactions with Inigo that were as perplexing as =
they were illuminating. We recorded a podcast together ( https://soundcloud=
=2Ecom/artelligence/inigo-philbrick?u=
tm_source=3Dclipboard&utm_medium=3Dtext&=
utm_campaign=3Dsocial_sharing&utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2=
F24%29&utm_content=3DWall+Power+-+LEADS+%284%2F14%2F24%29&utm_medium=3Demai=
l_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) in 2016=
where he was open and engaging. He was performing, but it didn=E2=80=99t f=
eel like a performance. Not long after, I ran into him and a mutual acquain=
tance in the lobby of an Evening auction. The mutual acquaintance tried to =
introduce us, but Inigo would not make eye contact.
To get another perspective on Inigo=E2=80=99s behavior, I talked with forme=
r associates and several collectors who were active market participants dur=
ing the years when he was dealing. Two friends, who met as art collectors 3=
0 years ago, started trading because the artists they loved were going up i=
n value and they were happy to sell to buy more art. =E2=80=9CIn the beginn=
ing, I thought he was one of us,=E2=80=9D said one of the pair. =E2=80=9CHe=
had knowledge, connoisseurship, and views of the market
that we all shared. We felt we found the third musketeer. We talked about i=
t that way. And he had access to stuff that was difficult to source.=E2=80=
=9D
=E2=80=9CInigo was pretty tapped in,=E2=80=9D the other said, describing ho=
w his perch in the middle of Mayfair allowed him to see the kind of art the=
two were interested in owning. =E2=80=9CAnd then he was increasingly tappe=
d in.=E2=80=9D His partner continued: =E2=80=9CBut we honestly believed in =
these artists.=E2=80=9D That may explain why they were willing to pay seven=
-figure prices for works they would have to own if they could not later be =
resold. But the pair made money. In the end, the works they bought were sol=
d for higher prices, not huge payoffs but solid returns, enough to bring th=
em back into other deals.
Originally, the partners were letting Philbrick control the works. They gav=
e him money, and he returned them more. But there was something unusual abo=
ut dealing with Philbrick, and one of the partners eventually did something=
about
it. =E2=80=9CWe exchanged hundreds of emails, texts, and calls over the yea=
rs, but I was only in his presence once,=E2=80=9D one told me. =E2=80=9CWe =
went to look at some art together. I said, Oh my, he is young.=E2=80=9D Eve=
ntually, the group got to one gallery where Philbrick wouldn=E2=80=99t go i=
n. =E2=80=9CMy wife said, =E2=80=98That guy is shady=E2=80=94you=E2=80=99re=
not doing business with him.=E2=80=99=E2=80=9D
Although the pair tried to impose some order on Inigo=E2=80=99s dealing=E2=
=80=94insisting on viewings, invoices, and contracts=E2=80=94the entropy wa=
s too great. =E2=80=9CWhen people lie to me, I don=E2=80=99t buy art from t=
hem,=E2=80=9D one of the collectors said. Once they grew suspicious of Inig=
o, they insisted on having control of the art works. Finally, they sold one=
of the works they owned with Inigo, advised him of the result, and paid th=
emselves what Inigo owed them on the deal and other deals where Inigo had d=
efaulted. Then they walked away. =E2=80=9CYes,=E2=80=9D one of the partners=
admitted, =E2=80=9Cwe came out ahead, but we were early in and
early out with Inigo, and to this day don=E2=80=99t know if our deals were =
part of the shell game he played.=E2=80=9D
To these partners, Inigo=E2=80=99s tragic flaw was his cockiness. =E2=80=9C=
Overall, I really have nothing negative to say about Inigo,=E2=80=9D one sa=
id after some consideration. =E2=80=9CHe was young and inexperienced. But h=
e spoke the language and fit in very well. I think he had=E2=80=A6 undue op=
timism.=E2=80=9D That last phrase was said with a wry twinkle of understate=
ment.
When I asked Inigo via email whether he understood the anger some of his fo=
rmer co-investors feel toward him, even if they didn=E2=80=99t lose money, =
I got this response: =E2=80=9CI absolutely understand and respect both ange=
r and disappointment from my friends and clients.=E2=80=9D He then went on =
to criticize Modern Collections, the Mayfair gallery, and made a veiled swi=
pe at Jay Jopling, his former boss and investor.
$(ad3_title) ( https://www.christies.com/events/20th-21st-century-new-york/=
what-is-on?cid=3DEM_DIS_puck_MSLP_VHG_2021M__2021CNY0524_EN__nwsltr970x250 =
)
Round Two
Other collectors, ones who lost money, were less charitable. Some found Ini=
go to be a chameleon. Whereas the first pair saw a connoisseur, these colle=
ctors saw someone who didn=E2=80=99t seem to actually care about the art. I=
nigo, they said, would present himself to people based on their needs and i=
dentities. Active flippers and market junkies got market gossip. To the par=
ty crowd, he bragged about his exploits in Ibiza. To the status conscious, =
he would talk about how he arrived on a private jet. If you had kids, he wo=
uld tell you a story to portray himself as a caring father.
In the art trade, he had a reputation for high-handed behavior. One auction=
house executive blocked him from getting a third-party guarantee because I=
nigo was trying to go behind his back. The work ended up making a record fo=
r the artist. Inigo=E2=80=99s self-importance had
caused him to miss out on the profits from the guarantee. His desire to see=
m powerful also caused him to occasionally act recklessly. One former frien=
d recounted in the press how Inigo bid against a fairly prominent art advis=
or on a Cy Twombly work apparently just to force the advisor to pay more. I=
nigo, according to the friend, was showing off and avenging some perceived =
slight the advisor had allegedly made ( https://news.artnet.com/art-world-a=
rchives/kenny-schachter-on-the-may-2018-new-york-auctions-1290590?utm_campa=
ign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Power+-+LEADS=
+%284%2F14%2F24%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_t=
erm=3Df6c60615e3d301d48d28 ) against the friend.
One collector doesn=E2=80=99t quite believe Inigo spent all of the $86 mill=
ion he was charged with stealing. It=E2=80=99s true that some of the cash i=
s, as Inigo says, still in art tied up with
competing claims. The size of the losses will ultimately be determined by t=
hose cases. In theory, a disputed work could sell for a very high price and=
make the competing claimants whole. That=E2=80=99s unlikely in this market=
, especially since most of the artists Inigo traded in have seen better day=
s. That doesn=E2=80=99t mean the art isn=E2=80=99t good or valuable, just t=
hat at today=E2=80=99s prices, the losses Inigo=E2=80=99s investors incurre=
d are magnified.
The one thing no one disputes about Philbrick is that he was immersed in th=
e details of the artists he traded. Inigo pored over exhibition photos, pac=
king lists, and catalogs. He knew his artists in precise, database detail. =
One can see how that kind of skill could become useful again. To do that, I=
nigo would have to lie low, prove his worth and act behind the scenes. =E2=
=80=9CI=E2=80=99ve had nice enquiries from a few collectors I used to work =
with, not fast-trading financial types but more mature collections,=E2=80=
=9D he emailed me. =E2=80=9CI=E2=80=99m in no
giant hurry. There are collectors who have a long history of profitable tra=
ding with me and are nonconformist enough to buck public opinion and offer =
me a second chance when I=E2=80=99m ready.=E2=80=9D
It=E2=80=99s also true that Inigo has been out of the game for a while. And=
Whitfield mentions a disturbing pattern where Inigo would repeatedly befri=
end powerful men in the art world like Norman Rosenthal, or a dealer at Haz=
litt Holland-Hibbert, only to later fall out with them. =E2=80=9CIt seemed =
like Inigo eventually outgrew everybody,=E2=80=9D Whitfield writes, includi=
ng, of course, himself.
Inigo isn=E2=80=99t the first dealer to get caught in a squeeze, do somethi=
ng stupid, and go to jail for it. In recent years, there was Los Angeles de=
aler Perry Rubenstein, who fucked around with Michael Ovitz and found out t=
hat embezzlement is a crime. After serving a short prison sentence, he was =
never able to re-establish himself as an art dealer. Ezra Chowaiki, cousin =
to
the powerful Nahmad family, was sentenced to 18 months for fraud. He, too, =
tried to return to the art world with a splashy adventures-in-art-dealing m=
emoir last year. There=E2=80=99s also Ann Freedman, who sold fakes while at=
Knoedler gallery. She settled a civil suit and still has her own gallery o=
n the Upper East Side. That=E2=80=99s all just another way of saying, a com=
eback might be more likely in the Timoth=C3=A9e Chalamet movie version than=
in real life.
FOUR STORIES WE=E2=80=99RE TALKING ABOUT
Not Great, Bob! ( https://puck.news/eulogy-for-bob-bakish/?utm_campaign=3DW=
all+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Power+-+LEADS+%284%2=
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6c60615e3d301d48d28 )
Not Great, Bob! ( https://puck.news/eulogy-for-bob-bakish/?utm_campaign=3DW=
all+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+Power+-+LEADS+%284%2=
F14%2F24%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df=
6c60615e3d301d48d28 )
An epilogue to Bob Bakish=E2=80=99s tenure at Paramount.
MATTHEW BELLONI
Strike a Posen ( https://puck.news/zac-posen-gets-his-hands-dirty-at-gap-in=
c/?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+P=
ower+-+LEADS+%284%2F14%2F24%29&utm_medium=3Demail_action&utm_source=3Dcusto=
mer.io&utm_term=3Df6c60615e3d301d48d28 )
Strike a Posen ( https://puck.news/zac-posen-gets-his-hands-dirty-at-gap-in=
c/?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_content=3DWall+P=
ower+-+LEADS+%284%2F14%2F24%29&utm_medium=3Demail_action&utm_source=3Dcusto=
mer.io&utm_term=3Df6c60615e3d301d48d28 )
Updates on the Zac Posen experiment at Gap.
LAUREN SHERMAN
Biden=E2=80=99s TikTok Trouble ( https://puck.news/rfk-jr-keeps-talking-you=
ng-voters-are-listening/?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%2=
9&utm_content=3DWall+Power+-+LEADS+%284%2F14%2F24%29&utm_medium=3Demail_act=
ion&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )
Biden=E2=80=99s TikTok Trouble ( https://puck.news/rfk-jr-keeps-talking-you=
ng-voters-are-listening/?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%2=
9&utm_content=3DWall+Power+-+LEADS+%284%2F14%2F24%29&utm_medium=3Demail_act=
ion&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )
On Gen Z=E2=80=99s consequential R.F.K. infatuation.
PETER HAMBY
The Caitlinsanity Revolution ( https://puck.news/caitlin-clark-revolution-w=
ill-be-televised/?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_c=
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The Caitlinsanity Revolution ( https://puck.news/caitlin-clark-revolution-w=
ill-be-televised/?utm_campaign=3DWall+Power+-+LEADS+%284%2F30%2F24%29&utm_c=
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_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )
Appraising the oncoming women=E2=80=99s sports=C2=A0gravy train.
JOHN OURAND
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<title>The Inigo Comeback & Pappajohns=E2=80=99 Jasper Johns</title>
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<div style=3D"display: none; max-height: 0px; overflow: hidden;">Welcome =
back to Wall Power, my biweekly take on what=E2=80=99s really going on behi=
nd the scenes in the art market. I=E2=80=99ve been trying to avoid writing =
any more about Inigo Philbrick since that Vanity Fair article, which seemed=
like his first attempt at a triumphant return to the art market since leav=
ing prison. That was cringe, as the kids say. But recently there have been =
more developments that suggest Inigo=E2=80=99s comeback tour has officially=
kicked off.
=20
=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=
=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=
=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=C2=A0=E2=80=8C=
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<p style=3D"margin: 0; color: #000000; font-size: 16px; line-hei=
ght: 30px; margin-top: 0px; margin-bottom: 0;">Welcome back to <i>Wall Powe=
r</i>, my biweekly take on what=E2=80=99s <i>really </i>going on behind the=
scenes in the art market. I=E2=80=99m <b>Marion</b> <b>Maneker</b>. <br/><=
br/>I=E2=80=99ve been trying to avoid writing any more about <b>Inigo Philb=
rick</b> since that <i>Vanity Fair </i>article, which seemed like his first=
attempt at a triumphant return to the art market since leaving prison. Tha=
t was cringe, as the kids say. But recently there have been <i>more</i> dev=
elopments that suggest Inigo=E2=80=99s comeback tour has officially kicked =
off. <br/><br/>If the name isn=E2=80=99t familiar to you, Inigo=E2=80=99s s=
econdary market dealing came to a screeching halt in 2019 when his various =
counterparties realized he=E2=80=99d been running a classic Peter-Paul scam=
=2E In the end, he pleaded guilty to fr=
aud to the tune of $86 million. (He no=
w disputes that figure.) Also, it seems like he=E2=80=99s come to
believe his own publicity suggesting that he=E2=80=99s some sort of loveabl=
e rogue. With that in mind, I spoke to several people in the art market who=
had dealings with Inigo in the past. I=E2=80=99ll tell you what they said =
and what I=E2=80=99ve observed. <br/></p>
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<td style=3D"font-size: 14px; line-height: 17px; color: #8a=
8888;">Discover the compelling, narrative art of Reggie Burrows Hodges, amo=
ng other rising stars in our <u><b><a href=3D"https://email.puck.news/e/c/e=
yJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJo=
cmVmIjoiaHR0cHM6Ly93d3cuY2hyaXN0aWVzLmNvbS9ldmVudHMvMjB0aC0yMXN0LWNlbnR1cnk=
tbmV3LXlvcmsvd2hhdC1pcy1vbj9jaWQ9RU1fRElTX3B1Y2tfTVNMUF9WSEdfMjAyMU1fXzIwMj=
FDTlkwNTI0X0VOX19ud3NsdHI2MDB4NDAwdGV4dCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzM=
DFkNDhkMjgiLCJsaW5rX2lkIjo4NTY1Mjl9/c72305469d25596e32d9101de1ddce77fe4621a=
e56afe6bf6123f7437ffa1c07" class=3D"disable-url-params" style=3D"color:#d40=
000;text-decoration:underline;font-weight:bold" class=3D"sdf">20th and 21st=
Century Art auctions in New York.</a></b></u></td>
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<td style=3D"padding-bottom: 12px; color: #000000; font-size: 16p=
x; line-height: 30px; margin-top: 0; margin-bottom: 0;"><i>But, first=E2=80=
=A6 </i><br/><br/><ul style=3D"margin:0;color:#000000;font-size:16px;line-h=
eight:30px;margin-top:0;margin-bottom:0;list-style-type:square;mso-special-=
format:bullet"><li><i>Private view</i>: Starting on May 10, I=E2=80=99ll be=
hosting a private SMS channel for Wall Power subscribers. <b>Wall Power SM=
S</b> will give you my commentary on auctions, art fairs, and gallery and m=
useum shows while I=E2=80=99m out in the wild. Think of it as real-time acc=
ess to me. (Don=E2=80=99t worry, the channel allows you to text me directly=
but not the whole group.) If you=E2=80=99ve got a good question, I=E2=80=
=99ll try to answer it for you and everyone else. You=E2=80=99ll receive an=
email tomorrow explaining how to sign up. </li><br/><li><i>The Pappajohns=
=E2=80=99 Johns</i>: Many important estates are waiting out this season to =
see where the market goes. But the heirs of Iowa venture capitalist
<b>John Pappajohn</b> and his wife, <b>Mary</b>, have decided to plunge ahe=
ad. An early investor in Caremark, Pappajohn was also an early buyer of <b>=
Jasper Johns</b>=E2=80=94including one of the artist=E2=80=99s number paint=
ings, from a series that recently got a boost from an exhibition at the Phi=
ladelphia Museum that essentially put those works on par with Johns=E2=80=
=99 breakthrough paintings of flags and targets. The Pappajohns=E2=80=99 <i=
>0 through 9</i> (1961), made from Sculp-metal, comes from early in the ser=
ies and is estimated at $5 million. The work also debuted in Johns=E2=80=99=
first European show at the Galerie Rive Droite in 1961. However, there are=
few examples at public auction to use as comparables.<br/><br/>Another art=
ist in the Pappajohns=E2=80=99 collection, <b>Bruce Nauman</b>, also has fe=
w comparables. But his neon work from 1985, <i>Hanged Man</i>, one of an ed=
ition of three, is estimated at $4 million. Other neon works have sold for =
prices from $2.7 million to $4 million. One sale of
a neon work=E2=80=94<i>Pain</i>, from 1983=E2=80=94is the artist=E2=80=99s =
high-water mark at $8.9 million. <br/><br/>The final top painting in the co=
llection is <b>Agnes Martin</b>=E2=80=99s <i>Untitled #7</i>, from 1996, es=
timated at $3 million. A similar work from the same year was sold a year ag=
o for $4.16 million.</li></ul></td>
</tr>
<!-- END OF REGULAR CONTENT -->
<!-- IMAGE -->
<tr class=3D"replica" name=3D"image">
<td align=3D"center" style=3D"padding-bottom: 20px;">
<table cellpadding=3D"0" cellspacing=3D"0" width=3D"100%=
" border=3D"0" role=3D"presentation" style=3D"width: 100%;" class=3D"w100pc=
t">
<tbody><tr>
<td align=3D"center" style=3D"padding: 16px 0;">
<table cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" border=3D"0" role=3D"presentation" style=3D"width: 100%;">
<tbody><tr>
<td>
=20
<img border=3D"0" src=3D"https://images.sc=
alero.io/email_assets/4014/XCRN39L1J2WXBI3JU71YXTIRRVB1VKRI1E8JN1UBZH4LKDNH=
KSO837C3R8ZIFPWO.jpg" alt=3D"https://images.scalero.io/email_assets/4014/XC=
RN39L1J2WXBI3JU71YXTIRRVB1VKRI1E8JN1UBZH4LKDNHKSO837C3R8ZIFPWO.jpg" style=
=3D"width: 540px;" width=3D"540" class=3D"w100pct"/>
=20
</td>
</tr>
<tr class=3D"replica" name=3D"image_caption">
<td align=3D"left" style=3D"padding-top: 10p=
x; color: #5E5E5E; font-size: 10px; line-height: 20px; font-weight: 700">
Jasper Johns, 0 through 9 (1961), estimat=
ed at $5 million
</td>
</tr>
</tbody></table>
</td>
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</tbody></table>
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joiaHR0cHM6Ly9wdWNrLm5ld3Mvam9pbi8_dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStMRUFE=
UyslMjg0JTJGMzAlMkYyNCUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUFEUys=
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NkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiO=
jU1ODY3OX0/42eb0a0cfc61ec6f68a4d19f2a1562ad5e4bd009733de68e3d70538f03827b8e=
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G93ZXIrLStMRUFEUyslMjg0JTJGMTQlMkYyNCUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0=
aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTN=
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f;font-size:13px;font-weight:bold;line-height:44px;text-align:center;text-d=
ecoration:none;width:220px;-webkit-text-size-adjust:none;">Learn More</a><!=
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<tr class=3D"replica" name=3D"hero1">
<td>
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D=
"w100pct" role=3D"presentation" style=3D"width: 100%;" width=3D"100%">
<tbody><tr>
<td style=3D"padding-bottom: 10px;"><a href=3D"https://email.p=
uck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1=
NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW5pZ28tcGhpbGJyaWNrLWtpY2tzL=
W9mZi1oaXMtY29tZWJhY2stdG91ci8_dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStMRUFEUysl=
Mjg0JTJGMzAlMkYyNCUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUFEUyslMjg=
0JTJGMTQlMkYyNCUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdX=
JjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50Z=
XJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjg2NDIwN30/6e10ff815368=
f5a17d3b6debf7e750fb84152369a6fe0dfce02e43f68c8092a7" target=3D"_blank"><im=
g alt=3D"Inigo Time" class=3D"w100pct" src=3D"https://images.scalero.io/ema=
il_assets/4014/LZL0G2E3GNBAXGLN342BID2X7XRWKV254X2GMXI0NZ4860V4JPO8E9K23ZH0=
J1XJ.png" style=3D"width:540px;" width=3D"540"/></a></td>
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<tr>
<td style=3D"padding-bottom: 10px;"><a href=3D"https://email.p=
uck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1=
NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW5pZ28tcGhpbGJyaWNrLWtpY2tzL=
W9mZi1oaXMtY29tZWJhY2stdG91ci8_dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStMRUFEUysl=
Mjg0JTJGMzAlMkYyNCUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUFEUyslMjg=
0JTJGMTQlMkYyNCUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdX=
JjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50Z=
XJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjg2NDIwN30/6e10ff815368=
f5a17d3b6debf7e750fb84152369a6fe0dfce02e43f68c8092a7" rel=3D"noopener" styl=
e=3D"text-decoration: none; color: #d70a09; font-family: Beskerville, Georg=
ia, 'Times New Roman', Times, serif; font-size:30px; line-height:36=
px;" target=3D"_blank">Inigo Time</a></td>
</tr>
<tr>
<td style=3D"font-size:18px; color:#000000;line-height:30px; p=
adding-bottom: 10px;">News, notes, and fresh reporting on Inigo Philbrick=
=E2=80=99s attempt to rehabilitate himself and get back in the game after h=
is $86 million fraud.</td>
</tr>
<tr class=3D"replica" name=3D"author">
<td style=3D"padding-bottom: 24px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"w100pct" role=3D"presentation" style=3D"width: 100%;" width=3D"100%">
<tbody><tr>
<td width=3D"80"><a href=3D"https://email.puck.news/e/c/eyJ=
lbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocm=
VmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYXV0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ=
249V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnRlbnQ9=
V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT1lbWF=
pbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNj=
A2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua=
19pZCI6ODQ3ODE3fQ/80dd55a2b476f8424a467f529609fcd07ece5d90ab9e61f2f15e2aa6f=
61d2eea" target=3D"_blank"><img alt=3D"MARION MANEKER" src=3D"https://image=
s.scalero.io/email_assets/4014/5U91RL8QH35FF9HGFOAQOSQW8H4C5DPTZ2B6X3OWH55F=
47VW83M55HOB5IFV2UDZ.png" style=3D"width:45px;" width=3D"45"/></a></td>
<td style=3D"font-size:18px; color:#555555;line-height:22px=
; border-bottom: 1px solid #bbbbbb;"><a href=3D"https://email.puck.news/e/c=
/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLC=
JocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYXV0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2Ftc=
GFpZ249V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnRl=
bnQ9V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT1=
lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Zj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiwib=
Glua19pZCI6ODQ3ODE3fQ/80dd55a2b476f8424a467f529609fcd07ece5d90ab9e61f2f15e2=
aa6f61d2eea" rel=3D"noopener" style=3D"text-decoration: none; color: #d70a0=
9;" target=3D"_blank"> <strong>MARION MANEKER</strong></a></td>
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<!-- END OF STORY HERO -->
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<tr class=3D"replica" name=3D"s1">
<td style=3D"padding-bottom: 36px; color: #000000; font-size: 16p=
x; line-height: 30px; margin-top: 0; margin-bottom: 0;">This month, <b>Inig=
o Philbrick</b> and his wife, <b>Victoria Baker-Harber</b>, have participat=
ed in splashy, confessional stories in both <i>Vanity Fair</i> and <i>The</=
i> <i>Times </i>of London<i>. </i>Philbrick, of course, was released from f=
ederal prison in March after serving less than four years of a seven-year s=
entence for an extensive fraud scheme wherein he sold =E2=80=9Cmore than 10=
0 percent ownership in an artwork to multiple individuals and entities with=
out their knowledge=E2=80=9D and also =E2=80=9Csold and used art as collate=
ral for loans without informing his co-owners or disclosing those ownership=
stakes to his lenders,=E2=80=9D according to the prosecutors who put him b=
ehind bars. <br/><br/>The <i>Times</i> story revealed that Philbrick and Ba=
ker-Harber, whose own claim to fame was a villainous turn on British realit=
y series <i>Made in Chelsea</i>, are
<i>also </i>writing a book together and have been cooperating with the BBC =
on a three-part documentary. Separately, his former friend and employee, <b=
>Orlando Whitfield</b>, has a memoir out later this week in London, entitle=
d <i><u><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lE=
QU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly93d3cucGV=
uZ3VpbnJhbmRvbWhvdXNlLmNvbS9ib29rcy83MDMwNTIvYWxsLXRoYXQtZ2xpdHRlcnMtYnktb3=
JsYW5kby13aGl0ZmllbGQvP3V0bV9jYW1wYWlnbj1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyR=
jMwJTJGMjQlMjlcdTAwMjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjE0=
JTJGMjQlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3V=
zdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIj=
oiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo4NjQyMDh9/395490a21a9d817b3d39=
68b26175e78c3da2e3acb613128a52647087cc661daf" style=3D"color:#d40000;text-d=
ecoration:none;font-weight:bold" class=3D"sdf">All That Glitters: A Story o=
f Friendship, Fraud, and Fine Art</a></u></i>. (Whitfield=E2=80=99s book is=
being developed for HBO by Bad Wolf, the production company behind <i>Indu=
stry</i>, the show about sex-drugs-and-love among the junior investment ban=
king set that has been renewed for a third season.)<br/><br/>Some people mi=
ght want to disappear after such an ordeal, but Philbrick and Baker-Harber =
seem blithely eager to rehabilitate their image
and return to the art world=E2=80=94a profession where you can=E2=80=99t ge=
t disbarred and a dealer=E2=80=99s stint in prison might even appeal to a r=
ogue collector or two. The couple fantasized to the <i>Times</i> that they=
=E2=80=99d approve <b>Margot Robbie </b>and <b>Timoth=C3=A9e Chalamet</b> p=
ortraying them. Inigo, who is 37 years old but got his start in the busines=
s more than a decade ago, was particularly generous to Chalamet, conceding =
that the young actor was qualified to play him because =E2=80=9Che=E2=80=99=
d have the range.=E2=80=9D<br/><br/>There=E2=80=99s a distinct lack of cont=
rition in these public statements. =E2=80=9CI don=E2=80=99t think that anyo=
ne in this whole story is guilty of much more than greed and ambition,=E2=
=80=9D Inigo <u><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRn=
VDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9=
3d3cudGhldGltZXMuY28udWsvYXJ0aWNsZS9oZS1tYXN0ZXJtaW5kZWQtYW4tODZtLWFydC1mcm=
F1ZC1hbmQtZG9lc250LWZlZWwtZ3VpbHR5LWI5d201OWg4dz91dG1fY2FtcGFpZ249V2FsbCtQb=
3dlcistK0xFQURTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dl=
cistK0xFQURTKyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25=
cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMD=
FkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODY0M=
jA5fQ/728a9f79f20ca669326834637ccca2aca925ea5bd53862e04088794fd594c78d" sty=
le=3D"color:#d40000;text-decoration:none;font-weight:bold" class=3D"sdf">to=
ld the <i>Times</i></a></u>. =E2=80=9CEveryone knew that things were being =
financed on a kite string. That doesn=E2=80=99t excuse me, but that=E2=80=
=99s a big part of the story.=E2=80=9D He then he seemed to exculpate himse=
lf further by noting that his victims weren=E2=80=99t really hurt by his ac=
tions. =E2=80=9CWe=E2=80=99re dealing with a lot of people who have real ge=
nerational wealth,=E2=80=9D he insisted, with Baker-Harber adding that, to =
his victims, this was only =E2=80=9CMonopoly money.=E2=80=9D<br/><br/>Inigo=
also seems to believe that the most serious crimes were committed not by h=
im but by <b>Robert Newland</b>, a former management consultant and colleag=
ue who became his business manager. Newland, too, was convicted and is serv=
ing a nearly two-year prison sentence. =E2=80=9CI was tremendously successf=
ul,=E2=80=9D Philbrick said, =E2=80=9Cand my mistake was listening to a guy=
who
told me I could be that and more.=E2=80=9D It=E2=80=99s true that Newland u=
nlocked additional funds for Philbrick=E2=80=99s compulsive trading. =E2=80=
=9CI would never have had an offshore company nor an art-backed loan had I =
not met Robert Newland,=E2=80=9D he <u><a href=3D"https://email.puck.news/e=
/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0i=
LCJocmVmIjoiaHR0cHM6Ly93d3cudmFuaXR5ZmFpci5jb20vc3R5bGUvaW5pZ28tcGhpbGJyaWN=
rLWNvbmZlc3Npb25zP3V0bV9jYW1wYWlnbj1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjMwJT=
JGMjQlMjlcdTAwMjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjE0JTJGM=
jQlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9t=
ZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo4NjQyMTB9/bbb323a8acf10caf807da95ec=
109ad1bcdd04e401e5ed0a6bd5336d3bc3ba39f" style=3D"color:#d40000;text-decora=
tion:none;font-weight:bold" class=3D"sdf">told <i>Vanity Fair</i></a></u>. =
But that=E2=80=99s a bit like blaming the guy who got you a hot Ferrari for=
the damage you caused in a speeding wreck. Inigo was the one with his foot=
on the accelerator. <br/><br/>Excessive <i>nouveau riche</i> spending habi=
ts seemed to be part of the compulsion. Whitfield details plenty of high-fl=
ying details about their professional exploits: a last-minute trip to New Y=
ork where the two men stayed in a three-bedroom Plaza suite with a butler; =
meetings at the Connaught hotel
bar over Dom P=C3=A9rignon; and ornate dinners at Cipriani to choreograph a=
n interaction that only took seconds. Flouting the consequences of such min=
dless profligacy and feeling socially superior seem to have been the goal, =
even if Inigo now justifies his bonfire of the luxuries as business expense=
s. =E2=80=9CI always drank too much,=E2=80=9D he told <i>Vanity Fair</i>, =
=E2=80=9Cbut would always stagger away with a couple of deals done. =E2=80=
=A6 I spent money on clothes, but there=E2=80=99s no unshod art dealer, and=
private planes were a great setting for closing deals.=E2=80=9D According =
to Whitfield=E2=80=99s book, he was also spending thousands of dollars a da=
y up until nearly the end.<br/><br/>Somehow, Inigo can=E2=80=99t see that h=
is own spending was what was getting him in so deep. =E2=80=9CUntil the ver=
y last moment,=E2=80=9D he told <i>Vanity Fair</i>, =E2=80=9CI=E2=80=99d be=
en squaring off debts, paying out profits, and closing accounts.=E2=80=9D I=
n Philbrick=E2=80=99s narrative, even his 2019 disappearance in Vanuatu, a =
country with no extradition
treaty with the U.S., has been transformed into a failure of others to find=
him. As he told the <i>Times</i>, he wasn=E2=80=99t <i>hiding</i> since he=
was using his own name and passport while traveling. =E2=80=9CIf I wanted =
to hide and was trying to not get extradited, we=E2=80=99d have gone to Rus=
sia, we=E2=80=99d have gone to Iran,=E2=80=9D he said.<br/></td>
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<td style=3D"padding-bottom: 36px; color: #000000; font-size: 16p=
x; line-height: 30px; margin-top: 0; margin-bottom: 0;">Inigo is hardly the=
main character of Whitfield=E2=80=99s self-flagellating memoir, but the bo=
ok serves as a character study of sorts. Time and again, Philbrick uses his=
friend, often simply to feel superior. Maddeningly, Whitfield seems in awe=
of Philbrick and, to his own detriment, in love with him. =E2=80=9CThis bo=
ok isn=E2=80=99t journalism,=E2=80=9D he writes, =E2=80=9Cfor there can be =
no objectivity where love has lived.=E2=80=9D <br/><br/>I=E2=80=99ve had my=
own interactions with Inigo that were as perplexing as they were illuminat=
ing. We <u><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z=
1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9zb3Vu=
ZGNsb3VkLmNvbS9hcnRlbGxpZ2VuY2UvaW5pZ28tcGhpbGJyaWNrP3V0bV9zb3VyY2U9Y2xpcGJ=
vYXJkXHUwMDI2dXRtX21lZGl1bT10ZXh0XHUwMDI2dXRtX2NhbXBhaWduPXNvY2lhbF9zaGFyaW=
5nXHUwMDI2dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStMRUFEUyslMjg0JTJGMzAlMkYyNCUyO=
Vx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUFEUyslMjg0JTJGMTQlMkYyNCUyOVx1=
MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x=
1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjg2NDIxMX0/add71134bc00e6abcd49b51d64c5320b3=
ce04094b86d581ccc67c60b9c3718de" style=3D"color:#d40000;text-decoration:non=
e;font-weight:bold" class=3D"sdf">recorded a podcast together</a></u> in 20=
16 where he was open and engaging. He was performing, but it didn=E2=80=99t=
feel like a performance. Not long after, I ran into him and a mutual acqua=
intance in the lobby of an Evening auction. The mutual acquaintance tried t=
o introduce us, but Inigo would not make eye contact. <br/><br/>To get anot=
her perspective on Inigo=E2=80=99s behavior, I talked with former associate=
s and several collectors who were active market participants during the yea=
rs when he was dealing. Two friends, who met as art collectors 30 years ago=
, started trading because the artists they loved were going up in value and=
they were happy to sell to buy more art. =E2=80=9CIn the beginning, I thou=
ght he was one of us,=E2=80=9D said one of the pair. =E2=80=9CHe had knowle=
dge, connoisseurship, and views of the market
that we all shared. We felt we found the third musketeer. We talked about i=
t that way. And he had access to stuff that was difficult to source.=E2=80=
=9D<br/><br/>=E2=80=9CInigo was pretty tapped in,=E2=80=9D the other said, =
describing how his perch in the middle of Mayfair allowed him to see the ki=
nd of art the two were interested in owning. =E2=80=9CAnd then he was incre=
asingly tapped in.=E2=80=9D His partner continued: =E2=80=9CBut we honestly=
believed in these artists.=E2=80=9D That may explain why they were willing=
to pay seven-figure prices for works they would have to own if they could =
not later be resold. But the pair made money. In the end, the works they bo=
ught were sold for higher prices, not huge payoffs but solid returns, enoug=
h to bring them back into other deals. <br/><br/>Originally, the partners w=
ere letting Philbrick control the works. They gave him money, and he return=
ed them more. But there was something unusual about dealing with Philbrick,=
and one of the partners eventually did something about
it. =E2=80=9CWe exchanged hundreds of emails, texts, and calls over the yea=
rs, but I was only in his presence once,=E2=80=9D one told me. =E2=80=9CWe =
went to look at some art together. I said, <i>Oh</i> my, he is <i>young</i>=
=2E=E2=80=9D Eventually, the group got to=20=
one gallery where Philbrick wouldn=
=E2=80=99t go in. =E2=80=9CMy wife said, =E2=80=98That guy is shady=E2=80=
=94you=E2=80=99re not doing business with him.=E2=80=99=E2=80=9D <br/><br/>=
Although the pair tried to impose some order on Inigo=E2=80=99s dealing=E2=
=80=94insisting on viewings, invoices, and contracts=E2=80=94the entropy wa=
s too great. =E2=80=9CWhen people lie to me, I don=E2=80=99t buy art from t=
hem,=E2=80=9D one of the collectors said. Once they grew suspicious of Inig=
o, they insisted on having control of the art works. Finally, they sold one=
of the works they owned with Inigo, advised him of the result, and paid th=
emselves what Inigo owed them on the deal and other deals where Inigo had d=
efaulted. Then they walked away. =E2=80=9CYes,=E2=80=9D one of the partners=
admitted, =E2=80=9Cwe came out ahead, but we were early in and
early out with Inigo, and to this day don=E2=80=99t know if our deals were =
part of the shell game he played.=E2=80=9D <br/><br/>To these partners, Ini=
go=E2=80=99s tragic flaw was his cockiness. =E2=80=9COverall, I really have=
nothing negative to say about Inigo,=E2=80=9D one said after some consider=
ation. =E2=80=9CHe was young and inexperienced. But he spoke the language a=
nd fit in very well. I think he had=E2=80=A6 undue optimism.=E2=80=9D That =
last phrase was said with a wry twinkle of understatement. <br/><br/>When I=
asked Inigo via email whether he understood the anger some of his former c=
o-investors feel toward him, even if they didn=E2=80=99t lose money, I got =
this response: =E2=80=9CI absolutely understand and respect both anger and =
disappointment from my friends and clients.=E2=80=9D He then went on to cri=
ticize Modern Collections, the Mayfair gallery, and made a veiled swipe at =
<b>Jay Jopling</b>, his former boss and investor. <br/></td>
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<td style=3D"padding-bottom: 36px; color: #000000; font-size: 16p=
x; line-height: 30px; margin-top: 0; margin-bottom: 0;">Other collectors, o=
nes who lost money, were less charitable. Some found Inigo to be a chameleo=
n. Whereas the first pair saw a connoisseur, these collectors saw someone w=
ho didn=E2=80=99t seem to actually care about the art. Inigo, they said, wo=
uld present himself to people based on their needs and identities. Active f=
lippers and market junkies got market gossip. To the party crowd, he bragge=
d about his exploits in Ibiza. To the status conscious, he would talk about=
how he arrived on a private jet. If you had kids, he would tell you a sto=
ry to portray himself as a caring father. <br/><br/>In the art trade, he ha=
d a reputation for high-handed behavior. One auction house executive blocke=
d him from getting a third-party guarantee because Inigo was trying to go b=
ehind his back. The work ended up making a record for the artist. Inigo=E2=
=80=99s self-importance had
caused him to miss out on the profits from the guarantee. His desire to see=
m powerful also caused him to occasionally act recklessly. One former frien=
d recounted in the press how Inigo bid against a fairly prominent art advis=
or on a <b>Cy Twombly</b> work apparently just to force the advisor to pay =
more. Inigo, according to the friend, was showing off and avenging some per=
ceived slight the advisor <u><a href=3D"https://email.puck.news/e/c/eyJlbWF=
pbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIj=
oiaHR0cHM6Ly9uZXdzLmFydG5ldC5jb20vYXJ0LXdvcmxkLWFyY2hpdmVzL2tlbm55LXNjaGFja=
HRlci1vbi10aGUtbWF5LTIwMTgtbmV3LXlvcmstYXVjdGlvbnMtMTI5MDU5MD91dG1fY2FtcGFp=
Z249V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnRlbnQ=
9V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT1lbW=
FpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjN=
jA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlu=
a19pZCI6ODY0MjEyfQ/effbd1ef2166f4d3299c78cb8a76a4d2620cdd5dff2e855789e38895=
f885df9d" style=3D"color:#d40000;text-decoration:none;font-weight:bold" cla=
ss=3D"sdf">had allegedly made</a></u> against the friend. <br/><br/>One col=
lector doesn=E2=80=99t quite believe Inigo spent all of the $86 million he =
was charged with stealing. It=E2=80=99s true that some of the cash is, as I=
nigo says, still in art tied up with
competing claims. The size of the losses will ultimately be determined by t=
hose cases. In theory, a disputed work could sell for a very high price and=
make the competing claimants whole. That=E2=80=99s unlikely in this market=
, especially since most of the artists Inigo traded in have seen better day=
s. That doesn=E2=80=99t mean the art isn=E2=80=99t good or valuable, just t=
hat at today=E2=80=99s prices, the losses Inigo=E2=80=99s investors incurre=
d are magnified. <br/><br/>The one thing no one disputes about Philbrick i=
s that he was immersed in the details of the artists he traded. Inigo pored=
over exhibition photos, packing lists, and catalogs. He knew his artists i=
n precise, database detail. One can see how that kind of skill could become=
useful again. To do that, Inigo would have to lie low, prove his worth and=
act behind the scenes. =E2=80=9CI=E2=80=99ve had nice enquiries from a few=
collectors I used to work with, not fast-trading financial types but more =
mature collections,=E2=80=9D he emailed me. =E2=80=9CI=E2=80=99m in no
giant hurry. There are collectors who have a long history of profitable tra=
ding with me and are nonconformist enough to buck public opinion and offer =
me a second chance when I=E2=80=99m ready.=E2=80=9D<br/><br/>It=E2=80=99s a=
lso true that Inigo has been out of the game for a while. And Whitfield men=
tions a disturbing pattern where Inigo would repeatedly befriend powerful m=
en in the art world like <b>Norman Rosenthal</b>, or a dealer at Hazlitt Ho=
lland-Hibbert, only to later fall out with them. =E2=80=9CIt seemed like In=
igo eventually outgrew everybody,=E2=80=9D Whitfield writes, including, of =
course, himself. <br/><br/>Inigo isn=E2=80=99t the first dealer to get caug=
ht in a squeeze, do something stupid, and go to jail for it. In recent year=
s, there was Los Angeles dealer <b>Perry Rubenstein</b>, who fucked around =
with <b>Michael Ovitz</b> and found out that embezzlement is a crime. After=
serving a short prison sentence, he was never able to re-establish himself=
as an art dealer. <b>Ezra Chowaiki</b>, cousin to
the powerful <b>Nahmad</b> family, was sentenced to 18 months for fraud. He=
, too, tried to return to the art world with a splashy adventures-in-art-de=
aling memoir last year. There=E2=80=99s also <b>Ann Freedman</b>, who sold =
fakes while at Knoedler gallery. She settled a civil suit and still has her=
own gallery on the Upper East Side. That=E2=80=99s all just another way of=
saying, a comeback might be more likely in the Timoth=C3=A9e Chalamet movi=
e version than in real life. <br/></td>
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<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D=
"w100pct" role=3D"presentation" style=3D"width: 100%;" width=3D"100%">
<!-- STORY ITEM -->
<tbody><tr class=3D"replica" name=3D"story1">
<td style=3D"padding-right: 10px; padding-bottom: 10px;" valig=
n=3D"top"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1=
lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrL=
m5ld3MvZXVsb2d5LWZvci1ib2ItYmFraXNoLz91dG1fY2FtcGFpZ249V2FsbCtQb3dlcistK0xF=
QURTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dlcistK0xFQUR=
TKyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG=
1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiL=
CJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODYzNTI0fQ/84005=
0655967ccc5e0f0bcd4d8236f284dc260671f4a45543bb288970dc5ca2f" target=3D"_bla=
nk"><img alt=3D"Not Great, Bob!" class=3D"w80" src=3D"https://userimg-bee.c=
ustomeriomail.com/images/client-env-107382/Icon_Martini.png" style=3D"width=
:145px;" width=3D"145"/></a></td>
<td class=3D"padB30" style=3D"padding-bottom: 10px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"w100pct" role=3D"presentation" style=3D"width: 100%;" width=3D"100%">
<tbody><tr>
<td class=3D"padB10" style=3D"padding-bottom: 20px;"><a cla=
ss=3D"fs22" href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvZXVsb2d5LWZvci1ib2ItYmFraXNoLz91dG1fY2FtcGFpZ249V2FsbCtQb3dlcistK0xFQ=
URTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dlcistK0xFQURT=
KyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1=
fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLC=
JpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODYzNTI0fQ/840050=
655967ccc5e0f0bcd4d8236f284dc260671f4a45543bb288970dc5ca2f" rel=3D"noopener=
" style=3D"text-decoration: none; color: #d40000; font-size: 22px; font-wei=
ght: 700; line-height: 26px; font-family: Beskerville,Georgia,'Times Ne=
w Roman',Times,serif;" target=3D"_blank">Not Great, Bob!</a></td>
</tr>
<tr>
<td class=3D"padB10 fs14" style=3D"font-size:14px;color:#55=
5;line-height:16px; padding-bottom: 20px;">An epilogue to Bob Bakish=E2=80=
=99s tenure at Paramount.</td>
</tr>
<tr>
<td class=3D"fs14" style=3D"font-size:14px;color:#000000;li=
ne-height:16px;"><strong>MATTHEW BELLONI</strong></td>
</tr>
</tbody></table>
</td>
</tr>
<!-- END OF STORY ITEM -->
<!-- STORY ITEM -->
<tr class=3D"replica" name=3D"story2">
<td style=3D"padding-right: 10px; padding-bottom: 10px;" valig=
n=3D"top"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1=
lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrL=
m5ld3MvemFjLXBvc2VuLWdldHMtaGlzLWhhbmRzLWRpcnR5LWF0LWdhcC1pbmMvP3V0bV9jYW1w=
YWlnbj1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjMwJTJGMjQlMjlcdTAwMjZ1dG1fY29udGV=
udD1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjE0JTJGMjQlMjlcdTAwMjZ1dG1fbWVkaXVtPW=
VtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mN=
mM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJs=
aW5rX2lkIjo4NjIyMzd9/9bf3b409203711c0a67dc3fedc929dafbff376d6ef520078109a89=
f0b9d5cc55" target=3D"_blank"><img alt=3D"Strike a Posen" class=3D"w80" src=
=3D"https://userimg-bee.customeriomail.com/images/client-env-107382/Icon_Mo=
neyBag.png" style=3D"width:145px;" width=3D"145"/></a></td>
<td class=3D"padB30" style=3D"padding-bottom: 10px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"w100pct" role=3D"presentation" style=3D"width: 100%;" width=3D"100%">
<tbody><tr>
<td class=3D"padB10" style=3D"padding-bottom: 20px;"><a cla=
ss=3D"fs22" href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvemFjLXBvc2VuLWdldHMtaGlzLWhhbmRzLWRpcnR5LWF0LWdhcC1pbmMvP3V0bV9jYW1wY=
Wlnbj1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjMwJTJGMjQlMjlcdTAwMjZ1dG1fY29udGVu=
dD1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjE0JTJGMjQlMjlcdTAwMjZ1dG1fbWVkaXVtPWV=
tYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNm=
M2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsa=
W5rX2lkIjo4NjIyMzd9/9bf3b409203711c0a67dc3fedc929dafbff376d6ef520078109a89f=
0b9d5cc55" rel=3D"noopener" style=3D"text-decoration: none; color: #d40000;=
font-size: 22px; font-weight: 700; line-height: 26px; font-family: Beskerv=
ille,Georgia,'Times New Roman',Times,serif;" target=3D"_blank">Stri=
ke a Posen</a></td>
</tr>
<tr>
<td class=3D"padB10 fs14" style=3D"font-size:14px;color:#55=
5;line-height:16px; padding-bottom: 20px;">Updates on the Zac Posen experim=
ent at Gap.</td>
</tr>
<tr>
<td class=3D"fs14" style=3D"font-size:14px;color:#000000;li=
ne-height:16px;"><strong>LAUREN SHERMAN</strong></td>
</tr>
</tbody></table>
</td>
</tr>
<!-- END OF STORY ITEM -->
<!-- STORY ITEM -->
<tr class=3D"replica" name=3D"story3">
<td style=3D"padding-right: 10px; padding-bottom: 10px;" valig=
n=3D"top"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1=
lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrL=
m5ld3MvcmZrLWpyLWtlZXBzLXRhbGtpbmcteW91bmctdm90ZXJzLWFyZS1saXN0ZW5pbmcvP3V0=
bV9jYW1wYWlnbj1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjMwJTJGMjQlMjlcdTAwMjZ1dG1=
fY29udGVudD1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjE0JTJGMjQlMjlcdTAwMjZ1dG1fbW=
VkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fd=
GVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhk=
MjgiLCJsaW5rX2lkIjo4NjMxNjB9/ab7303823e9e8d6728f12f023354ee1085fad3ae6d251b=
7530793ec9f9e8518d" target=3D"_blank"><img alt=3D"Biden=E2=80=99s TikTok Tr=
ouble" class=3D"w80" src=3D"https://userimg-bee.customeriomail.com/images/c=
lient-env-107382/Icon_UFO.png" style=3D"width:145px;" width=3D"145"/></a></=
td>
<td class=3D"padB30" style=3D"padding-bottom: 10px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"w100pct" role=3D"presentation" style=3D"width: 100%;" width=3D"100%">
<tbody><tr>
<td class=3D"padB10" style=3D"padding-bottom: 20px;"><a cla=
ss=3D"fs22" href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvcmZrLWpyLWtlZXBzLXRhbGtpbmcteW91bmctdm90ZXJzLWFyZS1saXN0ZW5pbmcvP3V0b=
V9jYW1wYWlnbj1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjMwJTJGMjQlMjlcdTAwMjZ1dG1f=
Y29udGVudD1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjE0JTJGMjQlMjlcdTAwMjZ1dG1fbWV=
kaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkM=
jgiLCJsaW5rX2lkIjo4NjMxNjB9/ab7303823e9e8d6728f12f023354ee1085fad3ae6d251b7=
530793ec9f9e8518d" rel=3D"noopener" style=3D"text-decoration: none; color: =
#d40000; font-size: 22px; font-weight: 700; line-height: 26px; font-family:=
Beskerville,Georgia,'Times New Roman',Times,serif;" target=3D"_bla=
nk">Biden=E2=80=99s TikTok Trouble</a></td>
</tr>
<tr>
<td class=3D"padB10 fs14" style=3D"font-size:14px;color:#55=
5;line-height:16px; padding-bottom: 20px;">On Gen Z=E2=80=99s consequential=
R.F.K. infatuation.</td>
</tr>
<tr>
<td class=3D"fs14" style=3D"font-size:14px;color:#000000;li=
ne-height:16px;"><strong>PETER HAMBY</strong></td>
</tr>
</tbody></table>
</td>
</tr>
<!-- END OF STORY ITEM -->
<!-- STORY ITEM -->
<tr class=3D"replica" name=3D"story4">
<td style=3D"padding-right: 10px; padding-bottom: 10px;" valig=
n=3D"top"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1=
lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrL=
m5ld3MvY2FpdGxpbi1jbGFyay1yZXZvbHV0aW9uLXdpbGwtYmUtdGVsZXZpc2VkLz91dG1fY2Ft=
cGFpZ249V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnR=
lbnQ9V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT=
1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Z=
jZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiwi=
bGlua19pZCI6ODYyOTc4fQ/7de12a551107a0d7db0e544de3f0f82b3a5768b0ffae0fed65dd=
59380df2a39f" target=3D"_blank"><img alt=3D"The Caitlinsanity Revolution" c=
lass=3D"w80" src=3D"https://userimg-bee.customeriomail.com/images/client-en=
v-107382/Icon_Ace.png" style=3D"width:145px;" width=3D"145"/></a></td>
<td class=3D"padB30" style=3D"padding-bottom: 10px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=
=3D"w100pct" role=3D"presentation" style=3D"width: 100%;" width=3D"100%">
<tbody><tr>
<td class=3D"padB10" style=3D"padding-bottom: 20px;"><a cla=
ss=3D"fs22" href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvY2FpdGxpbi1jbGFyay1yZXZvbHV0aW9uLXdpbGwtYmUtdGVsZXZpc2VkLz91dG1fY2Ftc=
GFpZ249V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYzMCUyRjI0JTI5XHUwMDI2dXRtX2NvbnRl=
bnQ9V2FsbCtQb3dlcistK0xFQURTKyUyODQlMkYxNCUyRjI0JTI5XHUwMDI2dXRtX21lZGl1bT1=
lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Zj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiwib=
Glua19pZCI6ODYyOTc4fQ/7de12a551107a0d7db0e544de3f0f82b3a5768b0ffae0fed65dd5=
9380df2a39f" rel=3D"noopener" style=3D"text-decoration: none; color: #d4000=
0; font-size: 22px; font-weight: 700; line-height: 26px; font-family: Beske=
rville,Georgia,'Times New Roman',Times,serif;" target=3D"_blank">Th=
e Caitlinsanity Revolution</a></td>
</tr>
<tr>
<td class=3D"padB10 fs14" style=3D"font-size:14px;color:#55=
5;line-height:16px; padding-bottom: 20px;">Appraising the oncoming women=E2=
=80=99s sports=C2=A0gravy train.</td>
</tr>
<tr>
<td class=3D"fs14" style=3D"font-size:14px;color:#000000;li=
ne-height:16px;"><strong>JOHN OURAND</strong></td>
</tr>
</tbody></table>
</td>
</tr>
<!-- END OF STORY ITEM -->
</tbody></table>
</td>
</tr>
</tbody></table>
</td>
</tr>
<!-- END OF OTHER STORIES -->
<!-- DIVIDER -->
<tr class=3D"replica" name=3D"quote3">
<td align=3D"center" style=3D"padding-bottom: 20px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"w1=
00pct" role=3D"presentation" style=3D"width: 540px;" width=3D"540">
<tbody><tr>
<td align=3D"center" style=3D"font-size:20px; line-height:34px; b=
order-top:1px solid #BBBBBB; padding: 0px 0;">
</td>
</tr>
</tbody></table>
</td>
</tr>
<!-- DIVIDER -->
<!-- IMAGE -->
<tr class=3D"replica" name=3D"image">
<td align=3D"center" style=3D"padding: 10px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"w1=
00pct" role=3D"presentation" style=3D"width: 540px;" width=3D"540">
<tbody><tr>
<td align=3D"center" style=3D"padding: 16px 0;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"=
presentation" style=3D"width: 100%;" width=3D"100%">
<tbody><tr>
<td align=3D"center"><a href=3D"https://email.puck.news/e/c/ey=
JlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTVpMD0iLCJoc=
mVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam9pbi8_dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStM=
RUFEUyslMjg0JTJGMzAlMkYyNCUyOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUF=
EUyslMjg0JTJGMTQlMkYyNCUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dX=
RtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4I=
iwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjU1ODY3OX0/42eb=
0a0cfc61ec6f68a4d19f2a1562ad5e4bd009733de68e3d70538f03827b8e" target=3D"_bl=
ank"><img alt=3D"Start your free trial today" border=3D"0" class=3D"w100pct=
" src=3D"https://images.scalero.io/email_assets/2253/7RWTT0DHVQ58C08FARBHAC=
TOFLPIIERZ38SQAJ21ZIY1UZI7QAIIR83OH81KK0QN.png" style=3D"width: 540px;" wid=
th=3D"540"/></a></td>
</tr>
</tbody></table>
</td>
</tr>
</tbody></table>
</td>
</tr>
<!-- END OF IMAGE -->
<!-- FOOTER -->
<tr>
<td align=3D"center" class=3D"padL20 padR20" style=3D"padding: 50px =
0 30px;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pre=
sentation" width=3D"100%">
<tbody><tr>
<td align=3D"center" style=3D"padding-bottom: 20px;"><a href=3D"h=
ttps://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlG=
Sm1xZFdPNnV0U1NVVTVpMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvP3V0bV9jYW1wYWl=
nbj1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjMwJTJGMjQlMjlcdTAwMjZ1dG1fY29udGVudD=
1XYWxsK1Bvd2VyKy0rTEVBRFMrJTI4NCUyRjE0JTJGMjQlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtY=
WlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2=
MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5=
rX2lkIjoxfQ/9800671f423b46499f80c4df7add82be55f8c2673eb8155cb89bd7a1fd0c66c=
9" target=3D"_blank"><img alt=3D"Puck" src=3D"https://images.scalero.io/ema=
il_assets/2419/PH11UUE1DH0FLVW3ZTAP8F32P0TL01M9PHL0QR4EMT1VD8R7ZBZMSHRDZGEB=
64OU.png" style=3D"width:120px;border: 0;" width=3D"120"/></a></td>
</tr>
<!-- FOOTER SOCIAL -->
<tr>
<td align=3D"center" style=3D"padding-bottom: 16px;">
<table align=3D"center" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation">
<tbody><tr>
<td style=3D"padding: 0 10px;"><a href=3D"https://email.puck.n=
ews/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdQTVlGSm1xZFdPNnV0U1NVVTV=
pMD0iLCJocmVmIjoiaHR0cHM6Ly9mYWNlYm9vay5jb20vcHVja2RvdG5ld3M_dXRtX2NhbXBhaW=
duPVdhbGwrUG93ZXIrLStMRUFEUyslMjg0JTJGMzAlMkYyNCUyOVx1MDAyNnV0bV9jb250ZW50P=
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