This week marked the launch of the ALT/FNDATA podcast network — five shows covering auctions, luxury equities, fine art, collector cars, and high-value luxury goods. Here is a roundup of the major stories we covered across 13 episodes.

Monday, June 1

Open Bid — "Spring Sales Achieve $1.8B Across Christie's, Sotheby's, and Phillips"
New York's May spring auction season concluded with $1.8 billion in combined sales across the three major houses.
• Christie's led with a $1.1 billion evening session. The top lot was Jackson Pollock's "Number 7A, 1948" at $181 million.
• Sotheby's posted $909 million. Mark Rothko's "Brown and Blacks in Red" from the Robert Mnuchin collection realized $85.8 million.
• Phillips finished at $115 million, more than double its 2025 total.
• Sotheby's High Jewelry sale achieved $31.4 million with a 95% sell-through rate.
• Heritage Auctions' spring sale featured a signed Hermes Birkin with Jane Birkin's signature. • Centre Pompidou Hanwha announced its June 4th opening in Seoul.

Closing Price — "LVMH at 52-Week Low as Christie's Posts $1.1B Night"
• LVMH (MC.PA): EUR 473, down 26% YTD. 52-week range: EUR 436.55 to EUR 654.70. Q1 revenue: EUR 19.1 billion, down 6% YoY.
• Richemont (CFR.SW): FY2026 sales EUR 22.4 billion, up 11%. Net profit EUR 3.5 billion, up 27%. Jewelry maisons at 30.5% operating margin.
• Ferrari (RACE): Q1 revenue EUR 1.85 billion, up 3%. Deliveries 3,436 units, down 4.4%. FY2026 guidance reaffirmed at ~EUR 7.5 billion.
• Burberry (BRBY.L): FY2026 adjusted operating profit GBP 160 million, up from GBP 26 million. Net zero target delayed from 2040 to 2050.
• Zegna (ZGN): Major runway show in LA announced for Friday.

Tuesday, June 2

Open Bid — "Global Art Sales Hit $4.55B in 2025 — First Growth Year Since 2022"
• Bank of America spring 2026 art market report: global sales at Christie's, Sotheby's, and Phillips reached $4.55 billion in 2025, up 11.1% from 2024.
• 53% of lots sold above pre-sale estimates in 2025, compared to 48% in 2024.
• Hilde Lynn Helphenstein, known as Jerry Gogosian, died at age 40 in Sao Paulo.
• Dawn Airey announced as new chair of Arts Council England, replacing Nicholas Serota.
• Crystal Bridges Museum of American Art completed a major expansion, adding 50% more space.

Art Market — "Spring Sales Close at $1.8B; Digital Art Ranks Third in Global Spending" (Inaugural Episode)
• Digital art now ranks third in total spending after painting and sculpture, per Art Basel's 2026 report. 51% of high-net-worth respondents purchased a digital artwork in 2024 or 2025.
• Private sales are gaining market share over public auction.
• Bain & Co projects Chinese luxury spending will grow 6% in 2026, reversing a 5% decline in 2025.
• Three notable publications: Susan Owens' "Constable's Year" (Thames & Hudson), Paul Marechal's "Andy Warhol: The Complete Textiles and Fashion" (Prestel), and Daniel Sutherland's "Whistler's Legacy" (Penn State University Press).
• Elsewhere art fair launching in Philadelphia with 26 exhibitors.

Closing Price — "Watches of Switzerland Surges 14%; Richemont Named Top Pick at Four Banks"
• Watches of Switzerland (WOSG.L): surged 14% on FY2026 earnings. Group sales GBP 1.83 billion, up 13%. US sales up 24% YoY.
• Deutsche Bank added Richemont to "Most Preferred" alongside LVMH and Burberry. Kering and Moncler designated "Least Preferred."
• Kering (KER.PA): ex-dividend EUR 2.75.
• Bain & Co: Chinese luxury spending projected +6% in 2026, structural shift toward luxury experiences.

Wednesday, June 3

Open Bid — "Neiman Marcus Closes Dallas Flagship; De Beers Reports 25% Rise in Diamond Spending"
• Neiman Marcus closing its Dallas flagship store, over 100 years old, as part of Saks Global's Chapter 11 restructuring.
• De Beers reported an average cost of a natural mined diamond reached $4,063 in 2025, up 25% from 2023.
• Kao diamond mine going on care and maintenance from July.
• Christie's Hong Kong Important Watches auction: $36 million total, Patek Philippe top lot at $1.8 million.
• Multi-gem ring sold at Christie's Hong Kong for $194,500, five times its high estimate.
• Swiss watch exports to US fell 17% YoY in April. Hong Kong luxury sales up 20% YoY.

Luxury Spending — "De Beers Reports 25% Rise in Diamond Spending; Swiss Watch Exports Fall 17%" (Inaugural Episode)
• Sotheby's NY: 6-carat sapphire heading to auction with $550,000 high estimate.
• Sotheby's inaugural Artistic Luxury auction led by a Faberge diamond and aquamarine necklace from 1911, estimated at up to $600,000.
• Signet Jewelers raised full-year guidance on improved sales.
• Engagement ring insurance shifting from optional to expected.
• Sotheby's Magnificent Jewels June 9th led by 73.11-carat Fancy Vivid Yellow diamond by Glenn Spiro.

Closing Price — "Swiss Watch Exports Fall 17%; Hong Kong Luxury Sales Up 20%"
• Swatch Group (UHR.SW): CHF 215.
• Richemont watchmakers down 4% in FY2026, but stock near record high on strength of jewelry brands.
• Watches of Switzerland holding 14% gain.
• Signet (SIG): raised FY guidance. 

Thursday, June 4

Open Bid — "Centre Pompidou Opens in Seoul; Ferrari 599XX Leads RM Sotheby's Tegernsee at EUR 2.5M"
• Centre Pompidou Hanwha opened in Seoul. 10,000 sqm inside the 63 Building in Yeouido. Designed by Jean-Michel Wilmotte. Inaugural exhibition: "The Cubists: Inventing Modern Vision" — Picasso, Kandinsky, Matisse, Chagall.
• RM Sotheby's Tegernsee consignment announced for July 4th: Ferrari 599XX Evo at EUR 2-2.5 million, Ferrari 812 Competizione at EUR 1.25-1.5 million, Porsche Carrera GT at EUR 1.2-1.6 million, Porsche 356 B at EUR 470-570K, Mercedes 280 SE 3.5 Cabriolet at EUR 300-400K, Mercedes CLK DTM AMG Cabriolet.
• Five watch auctions in seven days beginning June 9th across New York and London.

Auto Market — "Ferrari 599XX at EUR 2.5M Headlines Tegernsee; Bonhams Motorcycle Sale Live with 300+ Lots" (Inaugural Episode)
• RM Sotheby's Tegernsee consignment: modern Ferrari values holding or appreciating; German marques (except Porsche) softening.
• Bonhams National Automobile Museum: nearly 100 cars in Reno on June 13th, many without reserve in the sale.
• Hagerty "Blue Chip vs New Chip" analysis comparing traditional collector cars vs modern instant collectibles.
• Ferrari Q1 2026: 3,436 deliveries, down 4.4%. 29.5% operating margin. 
• BMW M2 gains x Drive AWD for 2027. Previous AWD additions have seen RWD variants trade at premium.
• Bonhams Motorcycles Online Summer Sale live June 5-15: 300+ lots, 250+ without reserve. Mecum January benchmark: 1,800+ bikes, $20M total, 92% sell-through.
• Bonhams earlier this year: Grand Prix MV Agusta sold for over $1 million.
• The Market by Bonhams: Ferrari California ~$34,000, Jaguar F-Type ~$20,000, Porsche 944 Turbo ~$8,000.

Closing Price — "Five Watch Auctions in Seven Days; Ferrari 599XX Leads Tegernsee at EUR 2.5M"
• BMW, Mercedes-Benz, and Porsche testing technical support levels.
• Ferrari: 29.5% operating margin in 2025, revenue EUR 7.1 billion.
• Hanwha Group's cultural investment through Centre Pompidou partnership.
• Watch auction calendar: Sotheby's June 9, Christie's June 10, Bonhams June 11, Phillips June 13-14, Sotheby's June 15.

Friday, June 5

Open Bid — "Pace Gallery Drops 50 Artists; Bonhams Motorcycle Sale with 300+ Lots"
• Pace Gallery cutting ~50 artists from roster of 135, reducing staff from 250 to 200. CEO Marc Glimcher described the mega-gallery model as "unfixable."
• Sagrada Familia completed its 18th and final tower after 144 years of construction.
• Zegna (ZGN) staged Summer 2027 runway in Los Angeles. Villa Zegna private club opened in Hollywood.
• 100+ artists threatened legal action against Venice Biennale.
• London Gallery Weekend opened with 120+ galleries participating.
• Bonhams Motorcycles Summer Sale live through June 15.

Closing Price — "BofA Upgrades LVMH and Zegna to Buy; Kering Up 49% Over Three Months"
• Bank of America upgraded LVMH to Buy, citing 15% upside potential.
• BofA upgraded Zegna to Buy with price objective of $8.90.
• Kering up ~49% over three months on recent analyst upgrades.
• Pace Gallery restructuring as a signal for the primary art market.
• Week in review: $1.8B spring sales, LVMH upgraded, Watches of Switzerland +14%, Richemont at record high, Burberry net zero delay, De Beers diamonds +25%, Swiss exports -17%, HK luxury +20%, Neiman Marcus closing, Pace restructuring.

Week Ahead: June 9-15
• June 9:  Sotheby's Magnificent Jewels, New York — 73.11-carat Fancy Vivid Yellow diamond by Glenn Spiro
• June 10:  Christie's watches, New York
• June 11:  Bonhams watches, London
• June 13:  Bonhams National Automobile Museum, Reno — nearly 100 cars
• June 13-14:  Phillips watches, New York
• June 15:  Sotheby's watches, New York
• June 15:  Bonhams Motorcycles Online Summer Sale closes — 300+ lots
• July 4: RM Sotheby's Tegernsee — Ferrari 599XX Evo at EUR 2-2.5M

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• Open Bid: — Mon-Fri at 6 AM ET: Daily morning briefing on stocks, auctions, luxury market • Closing Price: — Mon-Fri at 5 PM ET: Daily evening equity analysis on luxury firms and auctions
• Art Market: — Tuesdays at 8 AM ET: Global fine art trends, auction data, and market insights
• Luxury Spending: — Wednesdays at 8 AM ET: Auction data and trends in jewelry, watches, gems, and handbags
• Auto Market: — Thursdays at 8 AM ET: Auction data and trends in collector cars, motorcycles, and aircraft

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