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Good morning. It's Thursday, June the fourth. I'm Sharon, and
this is Open Bid from ALT/FNDATA.
Centre Pompidou Hanwha opens today in Seoul — a 10,000 square
meter museum inside the 63 Building in Yeouido, the city's
finance district. French architect Jean-Michel Wilmotte
converted a former aquarium into what the museum is calling
a "box of light." The inaugural exhibition is "The Cubists:
Inventing Modern Vision," with works by Picasso, Kandinsky,
Matisse, and Chagall from the Pompidou's Paris collection.
The museum is backed by the Hanwha Foundation, the
philanthropic arm of the Hanwha conglomerate. It opens on the
140th anniversary of France-Korea diplomatic relations.
RM Sotheby's has announced its consignment for the Tegernsee
auction on July 4th at Gut Kaltenbrunn in the Bavarian Alps,
in partnership with the Concours of Elegance Germany.
The headline lot is a 2009 Ferrari 599XX Evo, estimated at
EUR 2 million to EUR 2.5 million. Also featured: a 2023
Ferrari 812 Competizione at EUR 1.25 million to EUR 1.5
million, a 2004 Porsche Carrera GT at EUR 1.2 million to EUR
1.6 million, a 1960 Porsche 356 B Carrera 1600 GS/GT Coupe by
Reutter at EUR 470,000 to EUR 570,000, a 1971 Mercedes-Benz
280 SE 3.5 Cabriolet at EUR 300,000 to EUR 400,000, and a
2006 Mercedes-Benz CLK DTM AMG Cabriolet.
The sale is heavy on German engineering and modern Ferrari —
two segments that have been diverging in the secondary market.
Five major watch auctions across three houses in seven days,
all starting next week: Sotheby's Magnificent Jewels on June
9th. Christie's watches on June 10th. Bonhams watches on June
11th. Phillips watches on June 13th and 14th. And Sotheby's
watches on June 15th. All in New York and London.
LVMH is at EUR 477 after a 25% three-month decline. BMW,
Mercedes, and Porsche are all testing technical support levels.
Ferrari remains the outlier in the auto sector, with a 29.5%
operating margin.
That is Open Bid for Thursday, June the fourth. Auto Market
is out at eight AM this morning — our inaugural episode,
previewing the collector car auction calendar. And Closing
Price returns at five PM Eastern.
I'm Sharon, from ALT/FNDATA. See you tomorrow morning.
