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Subject: Cracks in the Market in Hong Kong
From: Artelligence <artelligence@substack.com>
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View this post on the web at https://artelligence.substack.com/p/cracks-in-=
the-market-in-hong-kong
Welcome to Artelligence
This newsletter analyzing auction data from LiveArt is for paid subscribers=
only.
Subscriptions are $12 a month or $120 for a year. For organizations, we off=
er group discounts for 30% for each subscription of two or more. Sharing a =
newsletter on occasion is fine; consistently circumventing group subscripti=
ons is not.=C2=A0
There is also an option to get a 7-day free trial. Just choose the subscrip=
tion plan you want and click on the 7-day trial option before checkout.=C2=
=A0
In This Issue
Lot Watch: Music legend Jerry Moss=E2=80=99s art at Christie=E2=80=99s and =
Fontana=E2=80=99s End of God
Correction: Phillips 20th Century and Contemporary Evening sale in Hong Kon=
g =3D $24.6m
Preview Video:=C2=A0A free recap of our analysis of the Frieze auctions and=
Hong Kong results for Phillips and Sotheby=E2=80=99s that is available to =
paid subscribers below
Looking to London: Amid increasing political and economic strain, more work=
s come to market in London
What Happened in Hong Kong: Asia=E2=80=99s sales reveal a market sorting it=
self out
Lot Watch
Music Legend Jerry Moss=E2=80=99s Eclectic Collection Comes to Christie=E2=
=80=99s
Prominent figures from the music industry are the auction business=E2=80=99=
s new aristocrats. Just as having an inherited title of European nobility o=
nce beguiled bidders in the mid- to late-20th Century, today we see a slew =
of figures from in front of the microphones=E2=80=94Freddie Mercury, Charli=
e Watts=E2=80=94dominate the collectible auction market and powerful figure=
s from behind the boards selling important art. From David Geffen to Jimmy =
Iovine, music industry machers have long been important collectors. In the =
Spring, we saw Mo Ostin=E2=80=99s art amplify an auction season. Now, Chris=
tie=E2=80=99s is announcing the sale of Jerry Moss=E2=80=99s art on Novembe=
r 9th. Partnered with Herb Alpert, Moss created A&M records where he worked=
with talent like Carole King, Cat Stevens, Peter Frampton, Janet Jackson, =
Quincy Jones and Sting. The collection is led by an almost grisaille Picass=
o Nu couch=C3=A9 from 1968 estimated at $10 million. Frida Kahlo=E2=80=99s =
Portrait of Cristina, My Sister from 1928 is estimated at $8 million; Tamar=
a de Lempicka=E2=80=99s Kizette en rose II from 1928-30 carries a $7 millio=
n estimate. Among the other works are potential sleepers like Max Beckmann=
=E2=80=99s Mann mit Vogel from 1950 that is estimated at $2 million and, gi=
ven the bubbling interest in American art these days, Thomas Hart Benton=E2=
=80=99s Evening Concert from 1952-63 is offered at $1.5 million.=C2=A0
Fontana=E2=80=99s $18m La Fine di Dio Offered at Sotheby=E2=80=99s
In response to the rapid advancement of science and technology in the late =
1950s and early 1960s, especially the beginnings of the Space Race with the=
Soviet=E2=80=98s success in putting a man in orbit around the earth, Lucio=
Fontana created a series of works=E2=80=9438 in all=E2=80=94proclaiming th=
e end of god. La Fine di Dio are egg-like canvases transformed by Fontana=
=E2=80=99s signature punctures. Works from this series account for five of =
the top seven auction prices for Fontana whose market has seen quiet progre=
ss at lower price points over last two to three years. Sotheby=E2=80=99s w=
ill sell this white example, one of only 5, on November 15th but the work i=
s being put on view in Milan and Paris before the New York sales previews i=
n November. The estimate is $18 million which is below the selling price of=
all but one of the five that have been auctioned.=C2=A0
Correction
Phillips 20th Century and Contemporary Evening sale in Hong Kong =3D $24.6m
On Friday, we published The Dial for Phillips Evening sale in Hong Kong in =
error. We calculated withdrawn lots as unsold lots. The four withdrawn lots=
had a substantial effect on the sale metrics=E2=80=94as you can see in the=
corrected version. The hammer ratio was still behind the estimates at .93 =
but the sell-through rate was a robust 96%.=C2=A0
Preview Video
Looking to London
The Market Sleepwalks into London...
Unsubscribe https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2V=
uY2Uuc3Vic3RhY2suY29tL2FjdGlvbi9kaXNhYmxlX2VtYWlsP3Rva2VuPWV5SjFjMlZ5WDJsa0=
lqb3hNek15TmpnMk5qRXNJbkJ2YzNSZmFXUWlPakV6TnpjM05ESXdPQ3dpYVdGMElqb3hOamsyT=
1RRek1EazFMQ0psZUhBaU9qRTJPVGsxTXpVd09UVXNJbWx6Y3lJNkluQjFZaTB5TWpVNUlpd2lj=
M1ZpSWpvaVpHbHpZV0pzWlY5bGJXRnBiQ0o5LnltNmt3dzltNnpxUWNQNEZSbktPdF9kNmctY2N=
QS2xVR2RzaEMxbG9aUG8mZXhwaXJlcz0zNjVkIiwicCI6MTM3Nzc0MjA4LCJzIjoyMjU5LCJmIj=
p0cnVlLCJ1IjoxMzMyNjg2NjEsImlhdCI6MTY5Njk0MzA5NSwiZXhwIjoxNjk5NTM1MDk1LCJpc=
3MiOiJwdWItMCIsInN1YiI6ImxpbmstcmVkaXJlY3QifQ.5condfAV5JkZFiNtPk7XXSlI49DHQ=
heE5WCUBRKa2y4?
--019ee9cd0a50a867c6f08303a185ee80519ef01e0e9922b1c96f5e46dd2e
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</style></head><body class=3D"email-body" style=3D"font-kerning: auto;"><im=
g src=3D"https://eotrx.substackcdn.com/open?token=3DeyJtIjoiPDIwMjMxMDEwMTM=
wMjA2LjMuNTViZDdmYmY2ZmMxZmY0MkBtZy1kMC5zdWJzdGFjay5jb20-IiwidSI6MTMzMjY4Nj=
YxLCJyIjoiZW56b0BzaG93ZmlsZS5jb20iLCJkIjoibWctZDAuc3Vic3RhY2suY29tIiwicCI6M=
TM3Nzc0MjA4LCJ0IjoibmV3c2xldHRlciIsImEiOiJvbmx5X3BhaWQiLCJzIjoyMjU5LCJjIjoi=
cG9zdCIsImYiOnRydWUsInBvc2l0aW9uIjoidG9wIiwiaWF0IjoxNjk2OTQzMDk2LCJleHAiOjE=
2OTk1MzUwOTYsImlzcyI6InB1Yi0wIiwic3ViIjoiZW8ifQ.cOVde51aRNY0blf3lcQeoGg04mo=
SEr9hu3fmhuwAgac" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=3D"h=
eight:1px !important;width:1px !important;border-width:0 !important;margin-=
top:0 !important;margin-bottom:0 !important;margin-right:0 !important;margi=
n-left:0 !important;padding-top:0 !important;padding-bottom:0 !important;pa=
dding-right:0 !important;padding-left:0 !important;"/><div style=3D"display=
:none;font-size:1px;color:#333333;line-height:1px;max-height:0px;max-width:=
0px;opacity:0;overflow:hidden;" class=3D"preview">What to Expect in London =
+ Fontana's $18m End of God + Frida Kahlo  ‌ ‌ &=
#8204; ‌ ‌ ‌ ‌ ‌=
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204; ‌</div><table role=3D"presentation" width=3D"100%" border=
=3D"0" cellspacing=3D"0" cellpadding=3D"0" class=3D"email-body-container"><=
tr><td></td><td width=3D"550" class=3D"content"></td><td></td></tr><tr><td>=
</td><td align=3D"left" width=3D"550" class=3D"content"><div style=3D"font-=
size: 16px; line-height: 26px; margin: 0 auto; max-width: 550px; overflow-w=
rap: break-word; width: 100%;"><table role=3D"presentation" width=3D"100%" =
border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td align=3D"right" st=
yle=3D"height: 20px;"><table role=3D"presentation" width=3D"auto" border=3D=
"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td style=3D"vertical-align: mi=
ddle;"><span class=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8 f=
rontend-pencraft-Text-module__reset--dW0zZ tw-font-body tw-text-ssm tw-text=
-substack-secondary" style=3D"color: rgb(128, 128, 128) !important; font-fa=
mily: SF Pro Text, -apple-system, BlinkMacSystemFont, Inter, Segoe UI, Robo=
to, Helvetica, Arial, sans-serif, Apple Color Emoji, Segoe UI Emoji, Segoe =
UI Symbol !important; font-size: 13px !important; margin: 0; text-decoratio=
n: unset;"><div class=3D"pencraft frontend-pencraft-Box-module__reset--VfQY=
8 frontend-pencraft-Text-module__align-right--PcYkZ frontend-pencraft-Text-=
module__size-12--KorQF frontend-pencraft-Text-module__reset--dW0zZ" style=
=3D"color: unset; font-size: 12px; letter-spacing: 0; line-height: 16px; ma=
rgin: 0; text-align: right; text-decoration: unset;"><span translated class=
=3D"pencraft frontend-pencraft-Box-module__reset--VfQY8 frontend-pencraft-T=
ext-module__reset--dW0zZ" style=3D"color: unset; margin: 0; text-decoration=
: unset;">Forwarded this email? <a href=3D"https://substack.com/redirect/2/=
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1cmNlPWVtYWlsJnV0bV9jYW1wYWlnbj1lbWFpbC1zdWJzY3JpYmUmcj0yN2NlcjkiLCJwIjoxMz=
c3NzQyMDgsInMiOjIyNTksImYiOnRydWUsInUiOjEzMzI2ODY2MSwiaWF0IjoxNjk2OTQzMDk1L=
CJleHAiOjE2OTk1MzUwOTUsImlzcyI6InB1Yi0wIiwic3ViIjoibGluay1yZWRpcmVjdCJ9.Vk4=
iXNHX-Hbwtouqv1epK656EfIJGLjwfzm3rymfVPE?" class=3D"pencraft frontend-pencr=
aft-Box-module__reset--VfQY8 frontend-pencraft-Text-module__decoration-unde=
rline--sj8pE frontend-pencraft-Text-module__reset--dW0zZ" style=3D"color: u=
nset; margin: 0; text-decoration: unset; text-decoration-line: underline;">=
Subscribe here</a> for more</span></div></span></td></tr></table></td></tr>=
</table><table role=3D"presentation" width=3D"auto" class=3D"header graphic=
-header" style=3D"border-spacing: 0; padding: 16px 0 32px;"><tr><td align=
=3D"center" style=3D"padding: 0; text-align: center;"><a href=3D"https://su=
bstack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9hcnRlbGxpZ2VuY2Uuc3Vic3RhY2suY29tL=
3AvY3JhY2tzLWluLXRoZS1tYXJrZXQtaW4taG9uZy1rb25nP3V0bV9jYW1wYWlnbj1lbWFpbC1o=
YWxmLXBvc3Qmcj0yN2NlcjkmdG9rZW49ZXlKMWMyVnlYMmxrSWpveE16TXlOamcyTmpFc0luQnZ=
jM1JmYVdRaU9qRXpOemMzTkRJd09Dd2lhV0YwSWpveE5qazJPVFF6TURrMUxDSmxlSEFpT2pFMk=
9UazFNelV3T1RVc0ltbHpjeUk2SW5CMVlpMHlNalU1SWl3aWMzVmlJam9pY0c5emRDMXlaV0ZqZ=
EdsdmJpSjkuNkFxeFp5SHZwUFFBYXJSYzF0Sk9td3dEU3E2ZE9fVmp4dGh6aWs1WUpycyIsInAi=
OjEzNzc3NDIwOCwicyI6MjI1OSwiZiI6dHJ1ZSwidSI6MTMzMjY4NjYxLCJpYXQiOjE2OTY5NDM=
wOTUsImV4cCI6MTY5OTUzNTA5NSwiaXNzIjoicHViLTAiLCJzdWIiOiJsaW5rLXJlZGlyZWN0In=
0.U_zxseTXD0VlTf00DVp3P8UNuSqNcIjP9jwUbaWOTEY?"><img role=3D"presentation" =
width=3D"550" height=3D"117" src=3D"https://substackcdn.com/image/fetch/w_1=
100,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-=
post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fecde5dbd-aa76-4984-bfac-acb=
56639185e_2800x591.png" class=3D"header-image" style=3D"border: none !impor=
tant; display: block; height: auto; margin: 0 auto; max-width: 550px; verti=
cal-align: middle; width: 100%;"></a></td></tr></table><div dir=3D"auto" cl=
ass=3D"post typography" style=3D"font-size: 16px; line-height: 26px; paddin=
g: 16px 0 0 0;"><div class=3D"post-header" style=3D"font-size: 16px; line-h=
eight: 26px;"><h1 class=3D"post-title published" style=3D"-moz-appearance: =
optimizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearanc=
e: optimizelegibility; -webkit-font-smoothing: antialiased; appearance: opt=
imizelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact Display',=
-apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, s=
ans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-s=
ize: 32px; font-weight: bold; line-height: 36px; margin: 0;"><a href=3D"htt=
ps://substack.com/app-link/post?publication_id=3D2259&post_id=3D137774208&u=
tm_source=3Dpost-email-title&utm_campaign=3Demail-post-title&isFreemail=3Dt=
rue&r=3D27cer9&token=3DeyJ1c2VyX2lkIjoxMzMyNjg2NjEsInBvc3RfaWQiOjEzNzc3NDIw=
OCwiaWF0IjoxNjk2OTQzMDk1LCJleHAiOjE2OTk1MzUwOTUsImlzcyI6InB1Yi0yMjU5Iiwic3V=
iIjoicG9zdC1yZWFjdGlvbiJ9.6AqxZyHvpPQAarRc1tJOmwwDSq6dO_Vjxthzik5YJrs" styl=
e=3D"color: rgb(64, 64, 64); text-decoration: none;">Cracks in the Market i=
n Hong Kong</a></h1><h3 class=3D"subtitle" style=3D"-moz-appearance: optimi=
zelegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: opt=
imizelegibility; -webkit-font-smoothing: antialiased; appearance: optimizel=
egibility; color: #808080; font-family: 'SF Compact Display', -apple-system=
, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Ap=
ple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 18px; fon=
t-weight: normal; line-height: 24px; margin: 4px 0 0; margin-top: 12px;">Wh=
at to Expect in London + Fontana's $18m End of God + Frida Kahlo </h3><tabl=
e role=3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cellp=
adding=3D"0" class=3D"post-meta" style=3D"align-items: center; height: 20px=
; margin: 1em 0;"><tr><td><table role=3D"presentation" width=3D"auto" borde=
r=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td><table role=3D"presenta=
tion" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><=
td style=3D"vertical-align: middle;"><div class=3D"pencraft frontend-pencra=
ft-Box-module__reset--VfQY8 frontend-pencraft-Text-module__size-11--k1e8b f=
rontend-pencraft-Text-module__line-height-20--p0dP8 frontend-pencraft-Text-=
module__weight-medium--x7khA frontend-pencraft-Text-module__font-meta--U_nx=
y frontend-pencraft-Text-module__color-primary--ud4Z0 frontend-pencraft-Tex=
t-module__transform-uppercase--IDkUL frontend-pencraft-Text-module__reset--=
dW0zZ frontend-pencraft-Text-module__meta--jzHdd custom-css-email-post-auth=
or" style=3D"color: rgb(64, 64, 64); font-family: 'SF Compact', -apple-syst=
em, -apple-system, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helv=
etica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI =
Symbol'; font-size: 11px; font-weight: 500; letter-spacing: .2px; line-heig=
ht: 20px; margin: 0; text-decoration: unset; text-transform: uppercase;"><a=
style=3D"color: rgb(64, 64, 64); font-family: 'SF Compact', -apple-system,=
-apple-system, -system-ui, BlinkMacSystemFont, 'Segoe UI', Roboto, Helveti=
ca, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Sym=
bol'; font-size: 11px; font-weight: 500; letter-spacing: .2px; line-height:=
20px; margin: 0; text-decoration: none; text-transform: uppercase;" href=
=3D"https://substack.com/@artelligence" class=3D"pencraft frontend-pencraft=
-Box-module__reset--VfQY8 frontend-pencraft-Text-module__size-11--k1e8b fro=
ntend-pencraft-Text-module__line-height-20--p0dP8 frontend-pencraft-Text-mo=
dule__weight-medium--x7khA frontend-pencraft-Text-module__font-meta--U_nxy =
frontend-pencraft-Text-module__color-primary--ud4Z0 frontend-pencraft-Text-=
module__transform-uppercase--IDkUL frontend-pencraft-Text-module__reset--dW=
0zZ frontend-pencraft-Text-module__meta--jzHdd">Marion Maneker</a></div></t=
d></tr></table></td></tr><tr><td><table role=3D"presentation" width=3D"auto=
" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td style=3D"vertica=
l-align: middle;"><div class=3D"pencraft frontend-pencraft-Box-module__rese=
t--VfQY8 frontend-pencraft-Text-module__size-11--k1e8b frontend-pencraft-Te=
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um--x7khA frontend-pencraft-Text-module__font-meta--U_nxy frontend-pencraft=
-Text-module__color-secondary--WRADg frontend-pencraft-Text-module__transfo=
rm-uppercase--IDkUL frontend-pencraft-Text-module__reset--dW0zZ frontend-pe=
ncraft-Text-module__meta--jzHdd" style=3D"color: rgb(128, 128, 128); font-f=
amily: 'SF Compact', -apple-system, -apple-system, -system-ui, BlinkMacSyst=
emFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoj=
i', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; font-weight: 500;=
letter-spacing: .2px; line-height: 20px; margin: 0; text-decoration: unset=
; text-transform: uppercase;"><time dateTime=3D"2023-10-10T13:04:21.749Z">O=
ct 10</time></div></td><td width=3D"4" style=3D"min-width: 4px"></td><td st=
yle=3D"vertical-align: middle;"><table role=3D"presentation" width=3D"auto"=
border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tr><td style=3D"vertical=
-align: middle;"><div class=3D"pencraft frontend-pencraft-Box-module__reset=
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craft-Text-module__meta--jzHdd" style=3D"color: rgb(128, 128, 128); font-fa=
mily: 'SF Compact', -apple-system, -apple-system, -system-ui, BlinkMacSyste=
mFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji=
', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 11px; font-weight: 500; =
letter-spacing: .2px; line-height: 20px; margin: 0; text-decoration: unset;=
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aft frontend-pencraft-Box-module__reset--VfQY8 frontend-pencraft-Text-modul=
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><div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background=
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2 class=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimizeleg=
ibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optimize=
legibility; -webkit-font-smoothing: antialiased; appearance: optimizelegibi=
lity; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-sys=
tem, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, =
'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625e=
m; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; positio=
n: relative;">In This Issue</h2><ol style=3D"margin-top: 0; padding: 0;"><l=
i style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; color=
: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0; margin-bo=
ttom: 0; padding-left: 4px;"><strong>Lot Watch:</strong><span> Music legend=
Jerry Moss’s art at Christie’s and Fontana’s End of God<=
/span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: =
border-box; color: rgb(64, 64, 64); font-size: 16px; line-height: 26px; mar=
gin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Correction:</strong><=
span> Phillips 20th Century and Contemporary Evening sale in Hong Kong =3D =
$24.6m</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-s=
izing: border-box; color: rgb(64, 64, 64); font-size: 16px; line-height: 26=
px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Preview Video:=
</strong><span> A free recap of our analysis of the Frieze auctions an=
d Hong Kong results for Phillips and Sotheby’s that is available to p=
aid subscribers below</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p=
style=3D"box-sizing: border-box; color: rgb(64, 64, 64); font-size: 16px; =
line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong=
>Looking to London: </strong><span>Amid increasing political and economic s=
train, more works come to market in London</span></p></li><li style=3D"marg=
in: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; color: rgb(64, 64, 6=
4); font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; paddin=
g-left: 4px;"><strong>What Happened in Hong Kong: </strong><span>Asia’=
;s sales reveal a market sorting itself out</span></p></li></ol><div style=
=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e0; =
border: none; height: 1px; margin: 32px 0; padding: 0;"></div><h2 class=3D"=
header-with-anchor-widget" style=3D"-moz-appearance: optimizelegibility; -m=
oz-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegibility;=
-webkit-font-smoothing: antialiased; appearance: optimizelegibility; color=
: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-system, BlinkM=
acSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Colo=
r Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; font-wei=
ght: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; position: relative=
;">Lot Watch</h2><h4 class=3D"header-with-anchor-widget" style=3D"-moz-appe=
arance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -webkit-a=
ppearance: optimizelegibility; -webkit-font-smoothing: antialiased; appeara=
nce: optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Compact D=
isplay', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, =
Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'=
; font-size: 1.125em; font-weight: bold; line-height: 1.16em; margin: 1em 0=
0.625em 0; position: relative;"><strong>Music Legend Jerry Moss’s Ec=
lectic Collection Comes to Christie’s</strong></h4><div class=3D"capt=
ioned-image-container-static" style=3D"font-size: 16px; line-height: 26px; =
margin: 32px auto;"><figure style=3D"margin: 0 auto; width: 100%;"><table c=
lass=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpa=
dding=3D"0" data-component-name=3D"Image2ToDOMStatic" style=3D"mso-padding-=
alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td al=
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padding: 0; position: relative; text-decoration: none; width: auto;"><img d=
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ize":null,"height":1600,"width":1184,"resizeW=
idth":null,"bytes":null,"alt":null,"title&quo=
t;:null,"type":null,"href":null,"belowTheFold"=
;:true,"topImage":false,"internalRedirect":null}" alt w=
idth=3D"550" height=3D"743.2432432432432" class=3D"wide-image" src=3D"https=
://substackcdn.com/image/fetch/w_2368,c_limit,f_auto,q_auto:good,fl_progres=
sive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fim=
ages%2F51ca4d93-a507-4226-ae90-bb97a37c18da_1184x1600.jpeg" style=3D"-ms-in=
terpolation-mode: bicubic; border: none !important; display: block; height:=
auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !important; vertic=
al-align: middle; width: auto !important;"></a></td><td style=3D"text-align=
: center;"></td></tr></tbody></table><figcaption class=3D"image-caption" st=
yle=3D"box-sizing: content-box; color: #808080; font-size: 14px; font-weigh=
t: 400; letter-spacing: -.15px; line-height: 20px; margin-top: 8px; padding=
-left: 15%; padding-right: 15%; text-align: center; width: 70%;"><span>Frid=
a Kahlo’s</span><em> Portrait of Cristina, My Sister</em><span> (1928=
) estimated at $8 million</span></figcaption></figure></div><p style=3D"col=
or: rgb(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0=
;"><span>Prominent figures from the music industry are the auction business=
’s new aristocrats. Just as having an inherited title of European nob=
ility once beguiled bidders in the mid- to late-20th Century, today we see =
a slew of figures from in front of the microphones—Freddie Mercury, C=
harlie Watts—dominate the collectible auction market and powerful fig=
ures from behind the boards selling important art. From David Geffen to Jim=
my Iovine, music industry machers have long been important collectors. In t=
he Spring, we saw Mo Ostin’s art amplify an auction season. Now, Chri=
stie’s is announcing the sale of Jerry Moss’s art on November 9=
th. Partnered with Herb Alpert, Moss created A&M records where he worke=
d with talent like Carole King, Cat Stevens, Peter Frampton, Janet Jackson,=
Quincy Jones and Sting. The collection is led by an almost grisaille </spa=
n><strong>Picasso</strong><span> </span><em>Nu couché</em><span> from =
1968 estimated at $10 million. </span><strong>Frida Kahlo</strong><span>=
217;s</span><em> Portrait of Cristina, My Sister</em><span> from 1928 is es=
timated at $8 million; </span><strong>Tamara de Lempicka</strong><span>R=
17;s </span><em>Kizette en rose II</em><span> from 1928-30 carries a $7 mil=
lion estimate. Among the other works are potential sleepers like </span><st=
rong>Max Beckmann</strong><span>’s </span><em>Mann mit Vogel</em><spa=
n> from 1950 that is estimated at $2 million and, given the bubbling intere=
st in American art these days, </span><strong>Thomas Hart Benton</strong><s=
pan>’s </span><em>Evening Concert </em><span>from 1952-63 is offered =
at $1.5 million. </span></p><h4 class=3D"header-with-anchor-widget" st=
yle=3D"-moz-appearance: optimizelegibility; -moz-osx-font-smoothing: antial=
iased; -webkit-appearance: optimizelegibility; -webkit-font-smoothing: anti=
aliased; appearance: optimizelegibility; color: rgb(64, 64, 64); font-famil=
y: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Rob=
oto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', '=
Segoe UI Symbol'; font-size: 1.125em; font-weight: bold; line-height: 1.16e=
m; margin: 1em 0 0.625em 0; position: relative;"><strong>Fontana’s $1=
8m La Fine di Dio Offered at Sotheby’s</strong></h4><div class=3D"cap=
tioned-image-container-static" style=3D"font-size: 16px; line-height: 26px;=
margin: 32px auto;"><figure style=3D"margin: 0 auto; width: 100%;"><table =
class=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=3D"0" cellp=
adding=3D"0" data-component-name=3D"Image2ToDOMStatic" style=3D"mso-padding=
-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td a=
lign=3D"left" class=3D"content" width=3D"1200" style=3D"text-align: center;=
"><a class=3D"image-link" target=3D"_blank" href=3D"https://substack.com/re=
direct/b3e9bf98-adb4-4377-b95b-033108bdd22e?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3=
c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"align-items: center; bor=
der: none; display: block; flex-direction: column; height: auto; margin: 0;=
padding: 0; position: relative; text-decoration: none; width: auto;"><img =
data-attrs=3D"{"src":"https://substack-post-media.s3.amazona=
ws.com/public/images/897816c9-465b-4ac1-bdee-decb2687a165_1200x1600.jpeg&qu=
ot;,"srcNoWatermark":null,"fullscreen":null,"image=
Size":null,"height":1600,"width":1200,"resize=
Width":null,"bytes":null,"alt":null,"title&qu=
ot;:null,"type":null,"href":null,"belowTheFold&quo=
t;:true,"topImage":false,"internalRedirect":null}" alt =
width=3D"550" height=3D"733.3333333333334" class=3D"wide-image" src=3D"http=
s://substackcdn.com/image/fetch/w_2400,c_limit,f_auto,q_auto:good,fl_progre=
ssive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fi=
mages%2F897816c9-465b-4ac1-bdee-decb2687a165_1200x1600.jpeg" style=3D"-ms-i=
nterpolation-mode: bicubic; border: none !important; display: block; height=
: auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !important; verti=
cal-align: middle; width: auto !important;"></a></td><td style=3D"text-alig=
n: center;"></td></tr></tbody></table></figure></div><p style=3D"color: rgb=
(64, 64, 64); font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><spa=
n>In response to the rapid advancement of science and technology in the lat=
e 1950s and early 1960s, especially the beginnings of the Space Race with t=
he Soviet‘s success in putting a man in orbit around the earth, Lucio=
Fontana created a series of works—38 in all—proclaiming the en=
d of god. </span><em>La Fine di Dio </em><span>are egg-like canvases transf=
ormed by Fontana’s signature punctures. Works from this series accoun=
t for five of the top seven auction prices for Fontana whose market has see=
n quiet progress at lower price points over last two to three years. Sothe=
by’s will sell this white example, one of only 5, on November 15th bu=
t the work is being put on view in Milan and Paris before the New York sale=
s previews in November. The estimate is $18 million which is below the sell=
ing price of all but one of the five that have been auctioned. </span>=
</p><div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"backgro=
und: #e0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"></div=
><h4 class=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimize=
legibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: optim=
izelegibility; -webkit-font-smoothing: antialiased; appearance: optimizeleg=
ibility; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-=
system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-seri=
f, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.1=
25em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; posi=
tion: relative;"><strong>Correction</strong></h4><h4 class=3D"header-with-a=
nchor-widget" style=3D"-moz-appearance: optimizelegibility; -moz-osx-font-s=
moothing: antialiased; -webkit-appearance: optimizelegibility; -webkit-font=
-smoothing: antialiased; appearance: optimizelegibility; color: rgb(64, 64,=
64); font-family: 'SF Compact Display', -apple-system, BlinkMacSystemFont,=
'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Se=
goe UI Emoji', 'Segoe UI Symbol'; font-size: 1.125em; font-weight: bold; li=
ne-height: 1.16em; margin: 1em 0 0.625em 0; position: relative;">Phillips 2=
0th Century and Contemporary Evening sale in Hong Kong =3D $24.6m</h4><div =
class=3D"captioned-image-container-static" style=3D"font-size: 16px; line-h=
eight: 26px; margin: 32px auto;"><figure style=3D"margin: 0 auto; width: 10=
0%;"><table class=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=
=3D"0" cellpadding=3D"0" data-component-name=3D"Image2ToDOMStatic" style=3D=
"mso-padding-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;=
"></td><td align=3D"left" class=3D"content" width=3D"472" style=3D"text-ali=
gn: center;"><a class=3D"image-link" target=3D"_blank" href=3D"https://subs=
tack.com/redirect/142bc2d0-84c1-4f12-b8f1-fd60dff04c64?j=3DeyJ1IjoiMjdjZXI5=
In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel style=3D"align-items: =
center; border: none; display: block; flex-direction: column; height: auto;=
margin: 0; padding: 0; position: relative; text-decoration: none; width: a=
uto;"><img data-attrs=3D"{"src":"https://substack-post-media=
=2Es3.amazonaws.com/public/images/340bf=
299-48c6-42e0-a997-b41e89b19dc6_1024x1=
024.png","srcNoWatermark":null,"fullscreen":null,&=
quot;imageSize":null,"height":1024,"width":1024,&q=
uot;resizeWidth":472,"bytes":null,"alt":null,"=
;title":null,"type":null,"href":null,"belowTh=
eFold":true,"topImage":false,"internalRedirect":nu=
ll}" alt width=3D"472" height=3D"472" class src=3D"https://substackcdn.com/=
image/fetch/w_472,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%=
2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F340bf299-48c6=
-42e0-a997-b41e89b19dc6_1024x1024.png" style=3D"-ms-interpolation-mode: bic=
ubic; border: none !important; display: block; height: auto; margin: 0 auto=
; margin-bottom: 0; max-width: 100% !important; vertical-align: middle; wid=
th: auto !important;"></a></td><td style=3D"text-align: center;"></td></tr>=
</tbody></table></figure></div><p style=3D"color: rgb(64, 64, 64); font-siz=
e: 16px; line-height: 26px; margin: 0 0 20px 0;">On Friday, we published Th=
e Dial for Phillips Evening sale in Hong Kong in error. We calculated withd=
rawn lots as unsold lots. The four withdrawn lots had a substantial effect =
on the sale metrics—as you can see in the corrected version. The hamm=
er ratio was still behind the estimates at .93 but the sell-through rate wa=
s a robust 96%. </p><div style=3D"font-size: 16px; line-height: 26px;"=
><hr style=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px =
0; padding: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz=
-appearance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -web=
kit-appearance: optimizelegibility; -webkit-font-smoothing: antialiased; ap=
pearance: optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Comp=
act Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvet=
ica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Sy=
mbol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em; margin: =
1em 0 0.625em 0; position: relative;"><strong>Preview Video</strong></h2><a=
href=3D"https://substack.com/redirect/fd8576f4-29cd-4365-976b-fd93ed847e35=
?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" targe=
t=3D"_blank" class=3D"youtube-wrap" data-component-name=3D"Youtube2ToDOMSta=
tic" style=3D"display: block; margin: 1.6em 0;"><img src=3D"https://substac=
kcdn.com/image/youtube/w_550,c_limit/l_youtube_play_qyqt8q,w_120/04CPY1vXrV=
g" style=3D"-ms-interpolation-mode: bicubic; border: none !important; displ=
ay: block; height: auto; margin: 0 auto; max-width: 100%; vertical-align: m=
iddle; width: 100%;"></a><div style=3D"font-size: 16px; line-height: 26px;"=
><hr style=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px =
0; padding: 0;"></div><h2 class=3D"header-with-anchor-widget" style=3D"-moz=
-appearance: optimizelegibility; -moz-osx-font-smoothing: antialiased; -web=
kit-appearance: optimizelegibility; -webkit-font-smoothing: antialiased; ap=
pearance: optimizelegibility; color: rgb(64, 64, 64); font-family: 'SF Comp=
act Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvet=
ica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Sy=
mbol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em; margin: =
1em 0 0.625em 0; position: relative;"><strong>Looking to London</strong></h=
2><h4 class=3D"header-with-anchor-widget" style=3D"-moz-appearance: optimiz=
elegibility; -moz-osx-font-smoothing: antialiased; -webkit-appearance: opti=
mizelegibility; -webkit-font-smoothing: antialiased; appearance: optimizele=
gibility; color: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple=
-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-ser=
if, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.=
125em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; mar=
gin-bottom: 0; position: relative;"><strong>The Market Sleepwalks into Lond=
on...</strong></h4></div></div><div data-testid=3D"paywall" data-component-=
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ed; -webkit-appearance: optimizelegibility; -webkit-font-smoothing: antiali=
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y: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Rob=
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-moz-osx-font-smoothing: antialiased; -webkit-appearance: optimizelegibilit=
y; -webkit-font-smoothing: antialiased; appearance: optimizelegibility; col=
or: rgb(64, 64, 64); font-family: 'SF Compact Display', -apple-system, Blin=
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