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Good morning. It's Monday, June the eighth. I'm Sharon, and
this is Open Bid from ALT/FNDATA.
A Jackson Pollock owned by dealer Arne Glimcher, reportedly
priced around fifty million dollars, has failed to sell in a
Sotheby's private sale. Artnet reports the painting did not
find a buyer.
It follows last week's news that Pace Gallery is cutting
roughly fifty artists from its roster and that chief
executive Marc Glimcher called the mega-gallery model
"unfixable." Artnet this morning is asking openly whether
that model is collapsing, and reports that Asia's art market
is recalibrating. The pressure is concentrated at the top of
the market.
Two appointments in luxury. Printemps, the French department
store group, has named Remy Baume chief executive, effective
immediately. The role had been vacant since September of last
year — nine months without permanent leadership.
And at Carven, Kai Nesselrath has been named design director.
Nesselrath comes from Anthony Vaccarello's Saint Laurent
studio, and will present his debut collection for the ICCF-
owned label at Paris Fashion Week in the autumn.
Prada and Axiom Space have unveiled a new inner-layer garment
for NASA astronauts to wear on the lunar surface, ahead of the
Artemis IV mission. The suit was shown at Prada's SoHo
flagship in New York. It is part of Prada's push to be the
first major luxury house to make inroads into the space
industry.
A record in private aviation: Bombardier's new Global 8000
flew from Montreal to Nice in just over six hours.
In luxury real estate, two very different stories. Entourage
actor Jeremy Piven has sold his Hollywood Hills home for 6.85
million dollars — just fifty thousand more than he paid in
2017, after first listing at 9.5 million. But in London, per
Bloomberg, the buyer of a Regent's Park mansion has flipped it
for about 195 million pounds — a markup of roughly 56 million,
one of the highest-value UK home sales on record. Trophy
assets can move sideways, or they can move like that.
On the collectible-spirits front, Espolon has released a new
Extra Anejo tequila finished in Chardonnay casks. It is the
brand's second extra anejo expression, and a notably different
one.
And in retail, Timberland has opened a store at the American
Dream Mall in New Jersey — part of a plan to open twenty new
stores in fiscal 2027.
In Florence, the Galileo Museum has reunited Leonardo da
Vinci's Codex Atlanticus for the first time in roughly four
hundred years. The museum's Leonardotheka project digitally
restored the five hundred and fifty pages that a sixteenth-
century sculptor had cut from the manuscript. The institution
says it is retaining intellectual ownership of the digital
reconstruction.
A quick look at the European luxury names, which opened lower
this morning. LVMH, ticker MC on Euronext Paris, opened at 473
euros, down from a Friday close of 479. Hermes opened at 1,591
euros, from 1,619. Kering, ticker KER, opened at 244 euros and
50 cents, down from a Friday close of 249 — the weakest of the
group, off about two percent. In Zurich, Richemont
opened at 162 Swiss francs and Swatch at 201. The sector is
down roughly one to two percent at the bell — following
Friday's global tech selloff, though the broader market is
rebounding this morning. U.S. names open at nine-thirty
Eastern; we'll have those tonight on Closing Price.
Sotheby's Magnificent Jewels in New York on June 9th.
Christie's watches June 10th. Bonhams watches June 11th.
Phillips watches June 13th and 14th. Sotheby's watches
June 15th. Bonhams National Automobile Museum on June 13th
in Reno.
That is Open Bid for Monday, June the eighth. Closing Price
is this evening at five PM Eastern.
I'm Sharon, from ALT/FNDATA.
