The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Christie's narrowly beat out rival Sotheby's in a billion-dollar week for both auction houses, thanks in part to eight-figure sales by bold-faced artists.
Christie’s sold $1.1 billion in the past week, while Sotheby’s moved $1 billion of art, jewellery and watches, according to press releases from both companies.
The Christie’s haul was padded by the $90.3 million sale of David Hockney’s “Portrait of an Artist (Pool with Two Figures)”, who eclipsed Jeff Koons as the most expensive living artist to sell at auction. A new record for American art was also set by the company with the $92 million sale of Edward Hopper’s “Chop Suey.”
Billionaire currency trader Joe Lewis was the seller of the Hockney. The Hopper came from the collection of deceased businessman Barney A Ebsworth. The buyers weren’t disclosed.
ADVERTISEMENT
The highlight at Sotheby’s was the sale of a pearl and diamond necklace once owned by Marie Antoinette. The jewels sold for $36.2 million. The auction house said it’s had a 15 percent increase over last year in sales of impressionist, modern and contemporary works.
Phillips, a smaller auction house, announced $88.5 million of sales, with works from Joan Miro, Andy Warhol and Jean-Michel Basquiat bringing in the largest sums.
By Caleb Melby; editors: Matthew G Miller and James Ludden
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.