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Date: Fri, 16 May 2025 22:30:18 +0100
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Welcome back to Wall Power. I’m Marion Maneker—and we’ve made it to the end 
of another gigaweek. Tonight, I’m pouring myself a Sam Smith Organic 
Chocolate Stout (maybe two) and thinking of going to bed early. But before I 
get there, I want to tell you about the contemporary evening sales and day 
sales at Christie’s and Sotheby’s, which I’ll get to below the fold.





May 16, 2025












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PREVIEW VERSION


Start a free 14-day trial to unlock unlimited access to Puck.






 	Marion Maneker


Welcome back to Wall Power. I’m Marion Maneker—and we’ve made it to the end 
of another gigaweek.

Tonight, I’m pouring myself a Sam Smith Organic Chocolate Stout (maybe two) 
and thinking of going to bed early. But before I get there, I want to tell 
you about the contemporary evening sales and day sales at Christie’s and 
Sotheby’s, which I’ll get to below the fold.

Mentioned in this issue: David Geffen, Charles Stewart, Laura Sweeney, 
Lillian Heidenberg, Emily Kaplan, Sarah El-Tamer, Nick Cinque, Max Dolgicer, 
Hugh Gibson, Martha Craig, the Nahmads, the Mugrabis, Brett Gorvy, Alina 
Kohlem, Alain Benatar, Michael Altman, Jussi Pylkkänen, and many more…


*	Sotheby’s The Now & Contemporary makes $127 million: Sotheby’s evening 
contemporary sale was topped by an untitled Jean-Michel Basquiat work on 
paper that made...




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A new campaign starring Julia Garner celebrates the House’s storied silk 
scarves and their enduring legacy within the House’s design codes.


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The Art Market’s Hard Ceiling



The big spring sales have come to a close, leaving in their wake a 
distinctly unremarkable impression: Good works are selling, but there’s a 
limit to how high prices will go—and how far anyone is willing to stick 
their neck out, even for something they believe in.




 	Marion Maneker




How’s everyone feeling after the week we’ve had? Yeah, me too. I would say 
it was a roller coaster, but perhaps it was simply a week filled with a 
little false drama, some wary hopes, and a bit of good old-fashioned 
commerce. I’ll have more to say next week, probably in Wednesday’s Inner 
Circle email (you can sign up here). But the overall impression was of a 
market where there were many bidders, but few who would go past a clear, 
predetermined limit. One of the issues may be...




KEEP READING WITH A FREE TRIAL




A MESSAGE FROM OUR SPONSOR







A new campaign starring Julia Garner celebrates the House’s storied silk 
scarves and their enduring legacy within the House’s design codes.


DISCOVER MORE







The ultimate fashion industry bible, offering incisive reportage on all 
aspects of the business and its biggest players. Anchored by preeminent 
fashion journalist Lauren Sherman, Line Sheet also features veteran reporter 
Rachel Strugatz, who delivers unparalleled intel on what’s happening in the 
beauty industry, and Sarah Shapiro, a longtime retail strategist who writes 
about e-commerce, brick-and-mortar, D.T.C., and more.







Puck founding partner Matt Belloni takes you inside the business of 
Hollywood, using exclusive reporting and insight to explain the backstories 
on everything from Marvel movies to the streaming wars.




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Unofficial Upfronts Awards



MATTHEW BELLONI




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A State Department Scandal



JULIA IOFFE




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Arnaults in the Oval



LAUREN SHERMAN








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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" style=3D"padding-top:24px;"><div class=3D"r" =
align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid =
#d9d9d9;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
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</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table class=3D"np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r5" =
style=3D"vertical-align:middle;color:#d40000;font-family:&#39;PuckSerifDi=
splay&#39;,&#39;Georgia&#39;;font-size:20px;font-weight:400;padding-botto=
m:24px;text-align:left;">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249V2FsbCtQb3dlcistK0xFQURTKyU=
yODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dlcistK0xFQURTKyUy=
ODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc=
291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLC=
JpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODQ3ODE3fQ/f23b=
a5078b7861a2b6ff2636d35090fc118790c6d088350c25c209049b1ac7a3" =
target=3D"_self" style=3D"text-decoration:none;"><img alt=3D"Marion =
Maneker" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1739207842260_avatar-marion-update-2025-02-10_01JKRDV6FXDFC5A7AK1PGGWTBD=
.png" height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/></a>
</td><td =
style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:undefined;text-align:left;line-height:normal;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249V2FsbCtQb3dlcistK0xFQURTKyU=
yODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dlcistK0xFQURTKyUy=
ODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc=
291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLC=
JpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODQ3ODE3fQ/f23b=
a5078b7861a2b6ff2636d35090fc118790c6d088350c25c209049b1ac7a3" =
target=3D"_self" style=3D"color:#d40000;text-decoration:none;">Marion =
Maneker</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"c4 oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:27px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;">Welcome back to Wall Power. I=E2=80=99m =
<strong>Marion Maneker</strong>=E2=80=94and we=E2=80=99ve made it to
the end of another gigaweek.<br/><br/>Tonight, I=E2=80=99m pouring =
myself a Sam Smith Organic Chocolate Stout (maybe two) and thinking of =
going to bed early. But before I get there, I want to tell you about the =
contemporary evening sales and day sales at Christie=E2=80=99s and =
Sotheby=E2=80=99s, which I=E2=80=99ll get to below the =
fold.<br/><br/><em>Mentioned in this issue</em>: <strong>David</strong> =
<strong>Geffen</strong>, <strong>Charles</strong> =
<strong>Stewart</strong>, <strong>Laura</strong> =
<strong>Sweeney</strong>,
<strong>Lillian</strong> <strong>Heidenberg</strong>, =
<strong>Emily</strong> <strong>Kaplan</strong>, <strong>Sarah =
El-Tamer</strong>, <strong>Nick Cinque,</strong> <strong>Max =
Dolgicer</strong>, <strong>Hugh Gibson</strong>, <strong>Martha Craig, =
</strong>the <strong>Nahmads</strong>, the <strong>Mugrabis</strong>, =
<strong>Brett</strong> <strong>Gorvy</strong>, <strong>Alina =
Kohlem</strong>, <strong>Alain Benatar</strong>, <strong>Michael =
Altman</strong>, <strong>Jussi Pylkk=C3=A4nen</strong>, and
many more=E2=80=A6</p></div>
</td></tr></tbody></table>
<table class=3D"q" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;f=
ont-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn:left;mso-line-height-alt:26px;"><tbody><tr><td class=3D"r5" =
style=3D"padding-bottom:8px;"><div style=3D"margin-left:-20px"><ul =
style=3D"margin-top:0;margin-bottom:0;list-style-type:revert;"><li =
style=3D"Margin:0 0 24px
0;"><em>Sotheby=E2=80=99s The Now &amp; Contemporary makes $127 =
million</em>: Sotheby=E2=80=99s evening contemporary sale was topped by =
an untitled <strong>Jean-Michel Basquiat </strong>work on paper that =
made...</li></ul></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
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cellspacing=3D"0" role=3D"presentation" =
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<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;border-bottom:1px solid #d40000;border-top:1px solid =
#d40000;padding-bottom:32px;padding-left:24px;padding-right:24px;padding-=
top:32px;
vertical-align:top;">
<table class=3D"c4 np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">A =
MESSAGE FROM OUR SPONSOR</p></div>
</td></tr></tbody></table>
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cellspacing=3D"0" role=3D"presentation" =
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class=3D"r5" style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
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style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;mso-hide:all;display:n=
one;max-height:0;overflow:hidden;"><tbody><tr><td class=3D"r5" =
style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzMjkxMDMyO2RjX2xhdD07=
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CU3QkdEUFIlN0Q7Z2Rwcl9jb25zZW50PSQlN0JHRFBSX0NPTlNFTlRfNzU1JTdEO2x0ZD07ZG=
NfdGR2PTE_dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSU=
yOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUy=
OVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lc=
i5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNm=
M2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxOTU2MDR9/8763f5036006a82bfc20b6=
8b2cf11574e4002090df6493631d27e73050de774d" target=3D"_blank" =
style=3D"outline:none" tabindex=3D"-1"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
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style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"Gucci" title=3D"Gucci" height=3D"auto"/></a></div></div>
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<table class=3D"c4" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p =
style=3D"margin:0;margin-bottom:0px;">A new campaign starring Julia =
Garner celebrates the House=E2=80=99s storied silk scarves and their
enduring legacy within the House=E2=80=99s design codes.</p><p =
style=3D"margin:0;"><br/><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzMjkxMDMyO2RjX2xhdD07=
ZGNfcmRpZD07dGFnX2Zvcl9jaGlsZF9kaXJlY3RlZF90cmVhdG1lbnQ9O3RmdWE9O2dkcHI9J=
CU3QkdEUFIlN0Q7Z2Rwcl9jb25zZW50PSQlN0JHRFBSX0NPTlNFTlRfNzU1JTdEO2x0ZD07ZG=
NfdGR2PTE_dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSU=
yOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUy=
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i5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNm=
M2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxOTU2MDR9/8763f5036006a82bfc20b6=
8b2cf11574e4002090df6493631d27e73050de774d" target=3D"_blank" =
style=3D"text-decoration:underline;color:#d40000;" =
rel=3D"noopener"><strong>DISCOVER MORE</strong></a></p></div>
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<table class=3D"w" align=3D"center" width=3D"100%" border=3D"0" =
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:12px;vertical-=
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"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><em>Can=E2=80=99t see the full =
story?=C2=A0<strong>You=E2=80=99re receiving the free version of Wall
Power at enzo@showfile.com</strong>. For full access to Puck, and to =
each of my colleagues, subscribe today.</em></p></div>
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cellspacing=3D"0" role=3D"presentation" =
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class=3D"r5" style=3D"padding-bottom:37px;text-align:center;"><div =
class=3D"r" align=3D"center"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam=
9pbi8_dXRtX2NhbXBhaWduPVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUyOVx=
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style=3D"color:#ffffff;text-decoration:none;"><span class=3D"m" =
style=3D"background-color:#d40000;border-bottom:2px solid =
#d40000;border-left:2px solid #d40000;border-radius:4px;border-right:2px =
solid #d40000;
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class=3D"r5" style=3D"width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:600px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc3=
ByaW5nLWFydC1hdWN0aW9ucy1yZXZlYWwtY2F1dGlvdXMtYmlkZGluZy8_dXRtX2NhbXBhaWd=
uPVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50=
PVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09Z=
W1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPW=
Y2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCI=
sImxpbmtfaWQiOjIxOTk4NzJ9/6dba19d63bbc9ea96f09667be74a07ce500e4b82ffe7a1f=
7d84ce3182edc3bce" target=3D"_blank" style=3D"outline:none" =
tabindex=3D"-1"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
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style=3D"display:block;height:auto;border:0;width:100%;" width=3D"600" =
alt=3D"The Art Market=E2=80=99s Hard Ceiling" title=3D"The Art =
Market=E2=80=99s Hard Ceiling" height=3D"auto"/></a></div></div>
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<table class=3D"gq oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"padding-bottom:16px;padding-left:24px;padding-right:24px;padding=
-top:16px;text-align:center;width:100%;"><h1 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:48px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;
mso-line-height-alt:58px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc3=
ByaW5nLWFydC1hdWN0aW9ucy1yZXZlYWwtY2F1dGlvdXMtYmlkZGluZy8_dXRtX2NhbXBhaWd=
uPVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50=
PVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09Z=
W1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPW=
Y2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCI=
sImxpbmtfaWQiOjIxOTk4NzJ9/6dba19d63bbc9ea96f09667be74a07ce500e4b82ffe7a1f=
7d84ce3182edc3bce" target=3D"_blank" =
style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener">The Art =
Market=E2=80=99s Hard Ceiling</a></h1>
</td></tr></tbody></table>
<table class=3D"c4" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" =
style=3D"padding-left:24px;padding-right:24px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:19px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:29px;"><p style=3D"margin:0;">The =
big spring sales have come to a close, leaving in their wake a
distinctly unremarkable impression: Good works are selling, but =
there=E2=80=99s a limit to how high prices will go=E2=80=94and how far =
anyone is willing to stick their neck out, even for something they =
believe in.</p></div>
</td></tr></tbody></table>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;border-bottom:8px solid =
transparent;border-left:24px solid transparent;border-right:24px solid =
transparent;border-top:8px solid transparent;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
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left;border-bottom:1px solid #d40000;border-top:1px solid =
#d40000;vertical-align:top;border-radius:0px;">
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eight:0;"><tbody><tr><td class=3D"r5" =
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splay&#39;,&#39;Georgia&#39;;font-size:20px;font-weight:400;padding-botto=
m:8px;padding-right:8px;padding-top:8px;text-align:left;">
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249V2FsbCtQb3dlcistK0xFQURTKyU=
yODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dlcistK0xFQURTKyUy=
ODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc=
291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLC=
JpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODQ3ODE3fQ/f23b=
a5078b7861a2b6ff2636d35090fc118790c6d088350c25c209049b1ac7a3" =
target=3D"_self" style=3D"text-decoration:none;"><img alt=3D"Marion =
Maneker" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1739207842260_avatar-marion-update-2025-02-10_01JKRDV6FXDFC5A7AK1PGGWTBD=
.png" height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/></a>
</td><td =
style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:undefined;text-align:left;line-height:normal;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL21hcmlvbi1tYW5la2VyLz91dG1fY2FtcGFpZ249V2FsbCtQb3dlcistK0xFQURTKyU=
yODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dlcistK0xFQURTKyUy=
ODUlMkYxNiUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc=
291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLC=
JpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODQ3ODE3fQ/f23b=
a5078b7861a2b6ff2636d35090fc118790c6d088350c25c209049b1ac7a3" =
target=3D"_self" style=3D"color:#d40000;text-decoration:none;">Marion =
Maneker</a>
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<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:12px;vertical-=
align:top;">
<table class=3D"c4 np" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;">How=E2=80=99s everyone feeling after the week =
we=E2=80=99ve had? Yeah, me too. I would say it was a
roller coaster, but perhaps it was simply a week filled with a little =
false drama, some wary hopes, and a bit of good old-fashioned commerce. =
I=E2=80=99ll have more to say next week, probably in Wednesday=E2=80=99s =
Inner Circle email (you can <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvbX=
ktYWNjb3VudC9iaWxsaW5nLz91dG1fY2FtcGFpZ249V2FsbCtQb3dlcistK0xFQURTKyUyODU=
lMkYxNiUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V2FsbCtQb3dlcistK0xFQURTKyUyODUl=
MkYxNiUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291c=
mNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbn=
Rlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6NjQ1fQ/1d22069bd580=
ea1b7a836585739e44f95de185d5995a9cbe00fc183e45bf0631" =
style=3D"text-decoration:underline;color:#d40000;">sign up here</a>). =
But the overall impression was of a market where there were many =
bidders, but few who would go past a clear, predetermined limit. One of =
the issues may
be...</p></div>
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cellspacing=3D"0" role=3D"presentation" =
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width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" =
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class=3D"r5" style=3D"padding-bottom:32px;text-align:center;"><div =
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ByaW5nLWFydC1hdWN0aW9ucy1yZXZlYWwtY2F1dGlvdXMtYmlkZGluZy8_dXRtX2NhbXBhaWd=
uPVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50=
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Y2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCI=
sImxpbmtfaWQiOjIxOTk4NzJ9/6dba19d63bbc9ea96f09667be74a07ce500e4b82ffe7a1f=
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top:32px;
vertical-align:top;">
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style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">A =
MESSAGE FROM OUR SPONSOR</p></div>
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05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL040OTcwMS40MjM1OTIxUFVDSy9CMzMzOTU2MjcuNDE4ODA=
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i5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNm=
M2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxOTU2MDZ9/11b938c9265bd3023c0f48=
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one;max-height:0;overflow:hidden;"><tbody><tr><td class=3D"r5" =
style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdXMndFYi13ZDlMUUpxOFZhd2pEMD0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
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wMDgyO2RjX3Rya19haWQ9NjExMzk5NjQ1O2RjX3Rya19jaWQ9MjMzODMwNDQ5O2RjX2xhdD07=
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r5"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p =
style=3D"margin:0;margin-bottom:0px;">A new campaign starring Julia =
Garner celebrates the House=E2=80=99s storied silk scarves and their
enduring legacy within the House=E2=80=99s design codes.</p><p =
style=3D"margin:0;"><br/><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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yOVx1MDAyNnV0bV9jb250ZW50PVdhbGwrUG93ZXIrLStMRUFEUyslMjg1JTJGMTYlMkYyNSUy=
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style=3D"text-decoration:underline;color:#d40000;" =
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Sheet also features veteran reporter Rachel Strugatz, who delivers =
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and Sarah Shapiro, a longtime retail strategist who writes about =
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style=3D"width:100%;padding-right:0px;padding-left:0px;"><div =
class=3D"r" align=3D"center"><div class=3D"f" =
style=3D"max-width:210px;"><img =
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alt=3D"A State Department Scandal" title=3D"A State Department Scandal" =
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000;direction:ltr;font-family:&#39;PuckSerifDisp=
lay&#39;,&#39;Georgia&#39;;font-size:32px;font-weight:400;letter-spacing:=
normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-l=
ine-height-alt:38px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener"><span =
style=3D"word-break:break-word;position:relative;" =
data-position=3D"10-1-0" data-qa=3D"tinyeditor-root-element">A State =
Department Scandal</span></a></h2>
</td></tr></tbody></table>
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
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style=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&=
#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">JULIA =
IOFFE</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"u" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
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width=3D"600"><tbody><tr><td class=3D"yq o" =
width=3D"41.666666666666664%" =
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r5" =
style=3D"width:100%;padding-right:0px;padding-left:0px;"><div =
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style=3D"display:block;height:auto;border:0;width:100%;" width=3D"210" =
alt=3D"Arnaults
in the Oval" title=3D"Arnaults in the Oval" =
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style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
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ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
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href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">LAUREN =
SHERMAN</p></div>
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