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Headlines and Highlights: Week of September 15th

Headlines and Highlights: Week of September 15th
September 15, 2023
Keenan Flack

Sotheby's wins $400 Million Fisher-Landau Consignment

Photo: Sotheby's

The News: Sotheby’s has won the right to auction the late Emily Fisher Landau's art collection, worth an estimated $400 million, over rival Christie's. The collection will be led by a 1932 Picasso painting, Femme à la montre, anticipated to sell for more than $120 million. The sales are scheduled to take place on November 8 and 9.

Why: Emily Fisher Landau, a well-known art collector and trustee of the Whitney Museum of American Art, amassed her collection through strategic purchases and close relationships with contemporary artists. Her collection includes not just Picasso but also works from Ed Ruscha, Mark Rothko, and Jasper Johns, among others. The auction represents a high-stakes market event that could offset a challenging fiscal year for Sotheby's.

What’s Next: The auction will unfold over two dedicated events, featuring around 120 works from Landau's collection. Among the significant pieces are Rothko’s untitled 1968 work related to the Seagram Murals series and a 1986 edition of Jasper Johns’s Flags paintings. Beyond its monetary value, the collection showcases Landau’s knack for meaningful curation and her personal relationships with artists. THEARTNEWSPAPER

eBay Launches Luxury Consignment Service

Photo: eBay

The News: eBay, the online marketplace giant, is upping its luxury game by introducing a new consignment service focused initially on designer handbags. By providing direct access to seasoned expert sellers, eBay aims to make the listing and selling process for luxury items more seamless and professional. The company has collaborated with Linda Lightman, a leading seller of luxury goods and founder of Linda's Stuff, to facilitate this launch.

Why: As the trend of buying and selling authenticated, high-value goods gains traction, eBay is positioning itself as a one-stop destination for luxury transactions. This new service builds upon existing offerings like the Authenticity Guarantee and Certified By Brand, aiming to offer a more comprehensive and trusted platform for both buyers and sellers. The consignment process is all-inclusive, handling everything from professional photography to competitive pricing.

What's Next: The consignment service, which begins with handbags from illustrious brands like Chanel and Louis Vuitton, will broaden its scope next year to include other high-end categories like jewelry and watches. eBay also plans to display an Authenticity Guarantee checkmark for eligible items listed for $500 or more. This move comes after other recent initiatives like the expansion of Authenticity Guarantee to streetwear and the acquisition of AI-powered authentication provider Certilogo. PRNEWSWIRE

Collectible Happenings

A long-lost X-wing fighter model from the original 1977 "Star Wars" film is set to be auctioned by Dallas-based Heritage Auctions, with a starting bid of $400,000. Known as "the missing X-wing," the intricately detailed model belonged to the late Greg Jein, a prominent miniature-maker, and was discovered among his collection by a team of visual effects experts. CNN

A local distillery's 2.2 million-liter tanks burst in São Lourenco do Bairro in Portugal, causing a river of red wine to flow through the town until the Anadia Fire Department diverted it into a field. TWITTER

Over 130 pieces of Elvis Presley memorabilia are featured in a rock and roll history auction with 7 days left to view, register, and bid. GOTTAHAVEROCKANDROLL

The Spiegels have dismissed Juan Garcia from their case against Card Porn without stating a reason. The dismissal is without prejudice, meaning they have the option to sue him again in the future. PAUL LESKO TWITTER

Keith Haring started creating digital art in 1985 using the Commodore Amiga 1000 personal computer. Haring noted that his art style, which closely resembled the concept of pixels, was well-suited for digital translation. 5 days of bidding left! CHRISTIES

Michael Rohana was sentenced to five years' probation for breaking off and stealing a finger from a Chinese terracotta warrior statue at Philadelphia's Franklin Institute in 2017; he will pay a $5,000 fine and complete 100 hours of community service, with further restitution to be determined. Rohana intends to sell his Nike sneaker collection, valued at $32,000, to help cover the expected costs for damages and reparations to the statue. ARTNET

A newly discovered painting by Italian Baroque master Giovanni Francesco Barbieri, known as Il Guercino, is set to inaugurate Moretti Fine Art’s new gallery in Paris with an asking price of $2.2 million. The painting was initially attributed to an anonymous follower of Guido Reni and auctioned last November for around $610,000, but has since been restored and authenticated as a work by Guercino. ARTNET

Richard Beale, owner of London-based Roma Numismatics, has pleaded guilty to forging provenance documentation for the sale of ancient coins, including a $4.2 million Eid Mar coin. Facing up to 25 years in prison, Beale admitted to multiple counts of conspiracy and criminal possession of stolen property related to high-profile sales conducted by his company. ARTNET

The U.S. District Court for the Southern District of New York ruled that Gagosian Gallery is not liable for unrealized profits from the sale of Richard Prince’s “New Portraits” series, dismissing photographer Donald Graham's claims of copyright infringement. This ruling is the latest in a series of legal battles involving Prince's work, which repurposes Instagram photos; previous claims against him and Gagosian have mostly been unsuccessful, as courts have generally sided with their argument that the works are "transformative" and thus not subject to copyright. ARTNET

2015-16 Connor Mcdavid card sells for $181,800 at Goldin this week potentially setting a new record for the athlete. GOLDIN

PredictionStrike, a fantasy sports app that allows users to trade athlete "stocks," has raised $10 million in a Series A venture capital round led by Bullpen Capital. The company, founded in 2019, has processed $60 million in transactions and garnered more than 175,000 users; it aims to reach a benchmark of executing $100 million in trades within the next year. SPORTICO

PSA, the industry's largest third-party authenticator for collectibles, is expanding its presence in Canada with a new submission center located at AMG Collectibles in Halifax, Nova Scotia, opening on September 14. In addition to the new center, PSA will offer on-site grading services at the Toronto Sport Card Expo in November, allowing Canadian collectors a more localized experience for submitting items for authentication. PSACARD

Sotheby’s sells Princess Diana “Black Sheep” Sweater for $1.14 million against an estimate of $50-$80,000. SOTHEBYS

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