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Date: Wed, 26 Mar 2025 22:00:35 +0000
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Subject: Boetti Arbitrage, A Hong Kong Sales Report & The $41M South Asian Bonanza
From: Marion Maneker <marion@puck.news>
To: enzo@showfile.com
Message-Id: <20250326220035.d0c7cb7a2ab8f84d@cio66752.puck.news>

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Mar 26, 2025

Wall Power ( https://puck.news/newsletters/wall-power/?utm_campaign=3DIC+Ex=
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PREVIEW VERSION
PREVIEW VERSION

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Welcome back to Wall Power=E2=80=94the Inner Circle edition. I=E2=80=99m Ma=
rion Maneker, and I
left the light on for you.

Tonight, I=E2=80=99ve got an analysis of the data stemming from last week=
=E2=80=99s South Asian modern and contemporary art sales in New York. Amazi=
ngly, the record-setting M.F. Husain mural that Christie=E2=80=99s sold for=
 $13.8 million now represents the highest-value lot at auction so far this =
year. That distinction may not last the next few days in Hong Kong, but it=
=E2=80=99s still a remarkable factoid to behold. And that category has plen=
ty of room to run. More
details on those sales in a bit.

But first=E2=80=A6

* Some light H.R. news: Formerly an art advisor and director at Tomasso in =
London, Emanuela Tarizzo will begin her new role as...

Can=E2=80=99t see the full story? For full access to Puck Inner Circle cont=
ent, subscribe
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The Boetti =E2=80=98Aerei=E2=80=99 Arbitrage ( https://puck.news/boettis-ae=
rei-at-ben-brown-fine-arts-london/?utm_campaign=3DIC+Exclusive+Wall+Power+-=
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The Boetti =E2=80=98Aerei=E2=80=99 Arbitrage ( https://puck.news/boettis-ae=
rei-at-ben-brown-fine-arts-london/?utm_campaign=3DIC+Exclusive+Wall+Power+-=
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%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e=
3d301d48d28 )
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***************************************************************************=
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Boetti is a complex artist with an even more intricate market structure. Bu=
t Ben Brown
thinks his works on paper will benefit from other, more lucrative segments =
of his oeuvre.

Marion Maneker ( https://puck.news/author/marion-maneker/?utm_campaign=3DIC=
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On the face of it, perhaps there=E2=80=99s nothing extraordinary about Ben =
Brown
opening a new show ( https://www.benbrownfinearts.com/exhibitions/221-aligh=
iero-e-boetti-embellishing-the-sky-curated-by-elena-geuna/?utm_campaign=3DI=
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=2Eio&utm_term=3Df6c60615e3d301d48d2=
8 ) of Alighiero Boetti=E2=80=99s Aerei=
=E2=80=94the templated images of various airplanes, often tinted with water=
colors or hand-colored with ballpoint pen or both=E2=80=94at his undergroun=
d London gallery. Yes, Boetti is one of the most important conceptual artis=
ts of the late 20th century, and
his fame, influence, and market seem to have only grown in recent years. An=
d, yes, the gallery attests that there has never been...

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A Hollywood =E2=80=9CLife Rights=E2=80=9D Riddle

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ERIQ GARDNER

Khanna=E2=80=99s Listening Tour

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PETER HAMBY

L.L.Bean Horror Stories

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SARAH SHAPIRO

Puck

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kit-text-size-adjust:none;text-size-adjust:none;"><div style=3D"display: no=
ne; max-height: 0px; overflow: hidden; mso-hide:all;">Welcome back to Wall =
Power=E2=80=94the Inner Circle edition. I=E2=80=99m Marion Maneker, and I l=
eft the light on for you. Tonight, I=E2=80=99ve got an analysis of the data=
 stemming from last week=E2=80=99s South Asian modern and contemporary art =
sales in New York. Amazingly, the record-setting M.F. Husain mural that Chr=
istie=E2=80=99s sold for $13.8 million now represents the highest-value lot=
 at auction so far this year.</div>
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ce:0pt;word-break:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;=
"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#3=
9;Arial&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:=
150%;text-align:left;mso-line-height-alt:25.5px;"><p style=3D"margin:0;">We=
lcome back to Wall Power=E2=80=94the Inner Circle edition. I=E2=80=99m <str=
ong>Marion Maneker</strong>, and I
left the light on for you.<br/><br/>Tonight, I=E2=80=99ve got an analysis o=
f the data stemming from last week=E2=80=99s South Asian modern and contemp=
orary art sales in New York. Amazingly, the record-setting <strong>M.F. Hus=
ain</strong> mural that Christie=E2=80=99s sold for $13.8 million now repre=
sents the <em>highest-value</em> lot at auction so far this year. That dist=
inction may not last the next few days in Hong Kong, but it=E2=80=99s still=
 a remarkable factoid to behold. And that category has plenty of room to ru=
n. More
details on those sales in a bit.<br/><br/><em>But first=E2=80=A6</em></p></=
div>
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ace:0pt;word-break:break-word;color:#000000;direction:ltr;font-family:&#39;=
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x;line-height:150%;text-align:left;mso-line-height-alt:25.5px;"><tbody><tr>=
<td style=3D"padding-bottom:8px;"><div style=3D"margin-left:-20px"><ul star=
t=3D"1" style=3D"margin-top:0;margin-bottom:0;list-style-type:revert;"><li =
style=3D"Margin:0 0
24px 0;"><em>Some light H.R. news</em>: Formerly an art advisor and directo=
r at Tomasso in London, <strong>Emanuela Tarizzo</strong> will begin her ne=
w role as...</li></ul></div>
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T1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgi=
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lock;height:auto;border:0;width:100%;" width=3D"600" alt=3D"The Boetti =E2=
=80=98Aerei=E2=80=99 Arbitrage" title=3D"The Boetti =E2=80=98Aerei=E2=80=99=
 Arbitrage" height=3D"auto"/></a></div></div>
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border:0;width:100%;" width=3D"142" alt=3D"Inner Circle Exclusive" title=3D=
"Inner Circle Exclusive" height=3D"auto"/></div></div>
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pace:0pt;"><tbody><tr><td style=3D"padding-bottom:16px;padding-left:24px;pa=
dding-right:24px;text-align:center;width:100%;"><h1 style=3D"margin:0;color=
:#000000;direction:ltr;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&=
#39;;font-size:48px;font-weight:400;letter-spacing:normal;line-height:120%;=
text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:57.5999999=
99999994px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ=
4Z1lEQU5TTktOT05LQUdWMUhnOFlWUFJPSV8zRUY1aWpFRT0iLCJocmVmIjoiaHR0cHM6Ly9wdW=
NrLm5ld3MvYm9ldHRpcy1hZXJlaS1hdC1iZW4tYnJvd24tZmluZS1hcnRzLWxvbmRvbi8_dXRtX=
2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4MyUyRjI2JTJGMjUl=
MjlcdTAwMjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rSUMrTEVBRFMrJTI4MyUyRjI2JTJGMjU=
lMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjN=
jA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTM0NTI5fQ/515cc1bd20603ead2208a81c1=
b2ffe23fe25223fa0cd6545aa82e33bee1bddcf" target=3D"_blank" style=3D"text-de=
coration:none;color:#d40000;" data-mce-attribute-name-1=3D"" data-mce-attri=
bute-value-1=3D"" data-mce-attributes-count=3D"1" rel=3D"noopener">The Boet=
ti =E2=80=98Aerei=E2=80=99 Arbitrage</a></h1>
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<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-left:24px;padding-right:2=
4px;"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;=
,&#39;Arial&#39;;font-size:19px;font-weight:400;letter-spacing:0px;line-hei=
ght:150%;text-align:left;mso-line-height-alt:28.5px;"><p style=3D"margin:0;=
">Boetti is a complex artist with an even more intricate market structure. =
But Ben Brown
thinks his works on paper will benefit from other, more lucrative segments =
of his oeuvre.</p></div>
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50%;text-align:left;mso-line-height-alt:25.5px;"><p style=3D"margin:0;">On =
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t <strong>Ben Brown
</strong>opening a new <a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZ=
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e;color:#d40000;">show</a> of <strong>Alighiero Boetti</strong>=E2=80=99s <=
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his fame, influence, and market seem to have only grown in recent years. An=
d, yes, the gallery attests that there has never been...</p></div>
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div class=3D"r" align=3D"center"><a href=3D"https://email.puck.news/e/c/eyJ=
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0px;text-align:center;width:60%;word-break:keep-all;letter-spacing:normal;"=
><span style=3D"word-break:break-word;line-height:28px;">JOIN THE INNER CIR=
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WY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIs=
ImxpbmtfaWQiOjYxNzUxN30/d98ad6b3d8391b290882422de4acd5c3927c188e6d7b156850e=
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ce:0pt;word-break:break-word;"><tbody><tr><td><div style=3D"color:#000000;d=
irection:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;font-size:17px;fon=
t-weight:400;letter-spacing:0px;line-height:120%;text-align:left;mso-line-h=
eight-alt:20.4px;"><p style=3D"margin:0;">Join Emmy Award-winning journalis=
t Peter Hamby, along with the team of expert journalists at Puck, as they l=
et you in on the
conversations insiders are having across the four corners of power in Ameri=
ca: Wall Street, Washington, Silicon Valley, and Hollywood. Presented in pa=
rtnership with Audacy, new episodes publish daily, Monday through Friday.</=
p></div>
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px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"41.=
666666666666664%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-w=
eight:400;text-align:left;padding-bottom:16px;padding-left:24px;padding-rig=
ht:16px;padding-top:16px;vertical-align:top;">
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ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;"><tbody><tr><td style=3D"width:100%;padding-right:0px;padding-left=
:0px;"><div class=3D"r" align=3D"center" style=3D"line-height:10px"><div cl=
ass=3D"f" style=3D"max-width:210px;"><img src=3D"https://userimg-assets.cus=
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PQ7VX9Z5AHF.jpg" style=3D"display:block;height:auto;border:0;width:100%;" w=
idth=3D"210" alt=3D"A Hollywood =E2=80=9CLife Rights=E2=80=9D Riddle" title=
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space:0pt;mso-table-rspace:0pt;font-weight:400;text-align:left;padding-bott=
om:32px;padding-right:24px;padding-top:16px;vertical-align:top;">
<table class=3D"gq n" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rs=
pace:0pt;"><tbody><tr><td style=3D"padding-bottom:8px;text-align:center;wid=
th:100%;"><h2 style=3D"margin:0;color:#000000;direction:ltr;font-family:&#3=
9;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-size:32px;font-weight:400;le=
tter-spacing:normal;line-height:120%;text-align:left;margin-top:0;margin-bo=
ttom:0;mso-line-height-alt:38.4px;"><span style=3D"word-break:break-word;">=
<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktO=
T05LQUdWMUhnOFlWUFJPSV8zRUY1aWpFRT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvcm9=
iZXJ0by1jbGVtZW50ZXMtbGlmZS1yaWdodHMtYXJlLXRoZS1sYXRlc3QtbmlsLWJhdHRsZS8_dX=
RtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4MyUyRjI2JTJGM=
jUlMjlcdTAwMjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rSUMrTEVBRFMrJTI4MyUyRjI2JTJG=
MjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9=
tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTM0MTM3fQ/b6ad8ddd697187aaabeb8a=
56d1d16955e8f798cf2b55719fbc3d4ff05ce5a2d5" target=3D"_blank" style=3D"text=
-decoration:none;color:#d40000;" data-mce-attribute-name-1=3D"" data-mce-at=
tribute-value-1=3D"" data-mce-attributes-count=3D"1" rel=3D"noopener">A Hol=
lywood =E2=80=9CLife Rights=E2=80=9D Riddle</a></span></h2>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;word-break:break-word;"><tbody><tr><td><div style=3D"color:#000;dire=
ction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;font-size:14px;font-w=
eight:700;letter-spacing:0px;line-height:120%;text-align:left;mso-line-heig=
ht-alt:16.8px;"><p style=3D"margin:0;">ERIQ GARDNER</p></div>
</td></tr></tbody></table>
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<table class=3D"q6" align=3D"center" width=3D"100%" border=3D"0" cellpaddin=
g=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0=
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pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"41.=
666666666666664%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-w=
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ht:16px;padding-top:16px;vertical-align:top;">
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ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;"><tbody><tr><td style=3D"width:100%;padding-right:0px;padding-left=
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ass=3D"f" style=3D"max-width:210px;"><img src=3D"https://userimg-assets.cus=
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cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rs=
pace:0pt;"><tbody><tr><td style=3D"padding-bottom:8px;text-align:center;wid=
th:100%;"><h2 style=3D"margin:0;color:#000;direction:ltr;font-family:&#39;P=
uckSerifDisplay&#39;,&#39;Georgia&#39;;font-size:32px;font-weight:400;lette=
r-spacing:normal;line-height:120%;text-align:left;margin-top:0;margin-botto=
m:0;mso-line-height-alt:38.4px;"><span style=3D"word-break:break-word;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05=
LQUdWMUhnOFlWUFJPSV8zRUY1aWpFRT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvZGVtb2=
NyYXRzLXZvaWNlLWZydXN0cmF0aW9ucy1hdC1raGFubmFzLXRvd24taGFsbC8_dXRtX2NhbXBha=
WduPUlDK0V4Y2x1c2l2ZStXYWxsK1Bvd2VyKy0rTEVBRFMrJTI4MyUyRjI2JTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1XYWxsK1Bvd2VyKy0rSUMrTEVBRFMrJTI4MyUyRjI2JTJGMjUlMjlcdTA=
wMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdT=
AwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM=
2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTM0MjA4fQ/2ab6fe51ec6ebbff28ab758862c4e3854=
d522f492655c75036ecedbfa9fe50b2" target=3D"_blank" style=3D"text-decoration=
:none;color:#d40000;" data-mce-attribute-name-1=3D"" data-mce-attribute-val=
ue-1=3D"" data-mce-attributes-count=3D"1" rel=3D"noopener">Khanna=E2=80=99s=
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<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;word-break:break-word;"><tbody><tr><td><div style=3D"color:#000;dire=
ction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;font-size:14px;font-w=
eight:700;letter-spacing:0px;line-height:120%;text-align:left;mso-line-heig=
ht-alt:16.8px;"><p style=3D"margin:0;"><strong>PETER HAMBY</strong></p></di=
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ht:16px;padding-top:16px;vertical-align:top;">
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ace:0pt;"><tbody><tr><td style=3D"width:100%;padding-right:0px;padding-left=
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ass=3D"f" style=3D"max-width:210px;"><img src=3D"https://userimg-assets.cus=
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pace:0pt;"><tbody><tr><td style=3D"padding-bottom:8px;text-align:center;wid=
th:100%;"><h2 style=3D"margin:0;color:#000000;direction:ltr;font-family:&#3=
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ttom:0;mso-line-height-alt:38.4px;"><a href=3D"https://email.puck.news/e/c/=
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E1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjEzMzIzOH0/b6a0f0c802a6754b9ffb864f20b64=
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tion:none;color:#d40000;" data-mce-attribute-name-1=3D"" data-mce-attribute=
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ce:0pt;word-break:break-word;"><tbody><tr><td><div style=3D"color:#000;dire=
ction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;font-size:14px;font-w=
eight:700;letter-spacing:0px;line-height:120%;text-align:left;mso-line-heig=
ht-alt:16.8px;"><p style=3D"margin:0;">SARAH SHAPIRO</p></div>
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