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A banana duct-taped to a white wall — or an acclaimed piece of art, depending how you look at it — sold at a Sotheby's auction for $6.24 million on Wednesday. The artwork debuted at Art Basel Miami Beach in December 2019 and was initially estimated to sell around $1.5 million, according to Sotheby's. At one point, someone even took the banana off the wall and ate it. According to Sotheby's, Cattelan "single-handedly prompted the world to reconsider how we define art, and the value we seek in it." As Galperin put it, "There is no better forum to adjudicate the value of art and a single object than the platform of auction."

Persons: —, Maurizio Cattelan's, Nancy Durrant, Maurizio Cattelan, David Galperin, Sotheby's, rhapsodically, Durrant, Lucius Elliot, Durrant —, Elliot, Maurizio, Emmanuel Perrotin, Perrotin, Galperin Organizations: Art Basel Miami Beach, Art Basel, Americas, New, New York Post, Vogue Locations: New York

☆ Stained-glass Tiffany window sells for record $12.48 million at auction
▼ + stars: | 2024-11-20 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

CNN —A stained-glass Tiffany window originally designed for an Ohio church has sold for $12.48 million at auction. This is the first time the window has come to auction in 24 years and the sale sets a new auction record for Tiffany Studios. It sold for $2 million back in 2000, which was a world record for a Tiffany window at that time. That was the “thematic precursor” for the Danner Memorial Window 10 years later, Sotheby’s said in a press statement. The museum acquired Garden Landscape, designed in 1912, a three-part window designed by Northrop, last year.

Persons: Danner, Louis Comfort Tiffany –, Tiffany, Charles Lewis Tiffany –, Agnes Northrop, Northrop, Sotheby’s, John, Terressa Danner, Alan Gerry, Jodi Pollack, Louis Comfort Tiffany, Agnes Northrop’s Organizations: CNN, Tiffany Studios, Reformed, Baptist Church, Metropolitan Museum of Art, Northrop Locations: Ohio, York, Sotheby’s, Reformed Church, Flushing, New York, Canton , Ohio

☆ A bumper crop of art is hitting the New York auction market. Will Trump help?
▼ + stars: | 2024-11-19 | by ( Auzinea Bacon | John Towfighi | ) edition.cnn.com time to read: +6 min

Art on the auction blockA little more than half of Phillips, Christie’s and Sotheby’s sales — which will carry the three aforementioned art pieces — were based in New York, where 34 of the top 50 auction lots were sold in 2023, according to an Art Basel and UBS Art Market Report. Christie’s is auctioning 689 lots this week as part of the November art auctions. But Todd Levin of Levin Art Group was skeptical that tax cuts would do much for the art market. Interest ratesAnother drag on the art market over the last few years: high interest rates. A signal for what’s to comeNew York’s art auctions in the spring and fall could be a sign of things to come for the global art market, according to Woodham.

Persons: Maurizio Cattelan’s, ”, Andy Warhol’s “, Rene Magritte’s “, Sotheby’s, Phillips, Merrill Lynch, Donald Trump, Alex Glauber, ” Glauber, Christie’s, René Magritte, Marc Porter, Hiroko Masuike, Trump, bode, Todd Levin, “ It’s, Doug Woodham, —, Fernando Botero's, Kena Batancur, Glauber, Amy Whitaker, ’, ” Whitaker Organizations: New, New York CNN, Andy Warhol’s “ New York Skyscrapers, of, Christie’s, Association of Professional Art Advisors, CNN, Art Basel, UBS Art, New York Times, UBS Survey, Global, Trump White, Levin Art, Federal Reserve, Trump, NYU Steinhardt Locations: New York, Belgian, Christie’s Americas, Woodham, AFP, Miami

☆ How a viral, duct-taped banana came to be worth $1 million
▼ + stars: | 2024-11-17 | by ( ) www.cnbc.com time to read: +4 min

But a banana duct-taped to a wall? That might sell for more than $1 million at an upcoming auction at Sotheby's in New York. The yellow banana fixed to the white wall with silver duct tape is a work entitled "Comedian," by Italian artist Maurizio Cattelan. Now, the conceptual artwork has an estimated value of between $1 million and $1.5 million at Sotheby's auction on Nov. 20. When asked to compare Cattelan's banana to a classic like Monet's "Nymphéas," Galperin says impressionism was not considered art when the movement began.

Persons: Maurizio Cattelan, David Datuna, David Galperin, Galperin, Sotheby's, Cattelan, Chloé Cooper Jones, Cooper Jones, Claude Monet Organizations: Art Basel Miami Beach, Columbia University School of, Arts Locations: Miami Beach , Florida, Sotheby's, New York, Italian, Selfie, Miami

☆ Oldest stone tablet inscribed with Bible’s Ten Commandments to be sold at auction
▼ + stars: | 2024-11-13 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

CNN —The oldest known tablet inscribed with the Ten Commandments from the Old Testament is expected to fetch up to $2 million when it goes up for auction next month. The ancient stone will be on show in Sotheby's New York showroom from December 5, before going on sale later in the month. The inscription was placed face upward and the stone was exposed to heavy foot traffic. According to a press statement sent to CNN by Sotheby’s, which will auction the tablet in New York next month, the stone was sold to a scholar in 1943. Last year, a Hebrew Bible more than 1,000 years old was sold for $38.1 million at Sotheby’s in New York.

Persons: Samaritanism, Gerizim –, Zion, Sotheby’s, ”, Gerizim, Richard Austin, Sassoon Organizations: CNN, Sotheby’s, Bank – Locations: Israel, Sotheby's New York, New York, York

☆ Kim Kardashian wore a nearly $200,000 necklace previously seen on Princess Diana. It isn't the only vintage piece she owns.
▼ + stars: | 2024-11-04 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +4 min

Kardashian bought the necklace at an auction for nearly $200,000 in 2023. Kardashian has a penchant for vintage fashionThe necklace isn't the first famous archival piece Kardashian has bought at an auction. AdvertisementIn addition to her auction purchases, Kardashian is also known to borrow vintage pieces for red carpets. Kim Kardashian attends the Academy Museum Gala in October 2024. Fashion enthusiasts were concerned she damaged the vintage piece, but Kardashian and Ripley's Believe It or Not, which owns the gown, denied those claims.

Persons: Kim Kardashian, Princess Diana, Kardashian, —, Gucci, Bauer, Griffin, Princess Diana's, Garrard, Naim Attallah, Sotheby's, Diana, Tim Graham, Attallah, Catherine Walker, Alberto E, Rodriguez, Michael, Jackie Kennedy, Martin Nolan, Nolan, it's, Emma McIntyre, Marilyn Monroe's Organizations: Service, Angeles County Museum of Art, Axelle, Getty, Julien's, Academy Museum, Academy Museum of Motion Locations: Palestinian, British, West

☆ Maurizio Cattelan’s viral banana artwork ‘Comedian’ could now be worth $1.5 million
▼ + stars: | 2024-10-25 | by ( Oscar Holland | ) edition.cnn.com time to read: +4 min

But artist Maurizio Cattelan’s viral creation, titled “Comedian,” may yet prove a sound investment: On Friday, auction house Sotheby’s announced that one of the artwork’s three “editions” is going back on sale — this time with an estimate of $1 million to $1.5 million. “‘Comedian’ is a conceptual artwork, and the actual physical materials are replaced with every installation,” an auction spokesperson said via email. The Miami installation was eventually removed amid public safety concerns, but all three editions were sold at the fair. In interviews given since the Miami installation, Cattelan has described “Comedian” as a work of commentary. An installation shot of "Comedian" released by Sotheby's auction house ahead of the sale.

Persons: Maurizio Cattelan’s, ”, Sotheby’s, “, ’, Marcel Duchamp’s, David Datuna, David Galperin, ” Galperin Organizations: CNN, Art Basel Miami Beach, Guggenheim, Art Newspaper, Leeum Museum of Art, Seoul National University Locations: Miami, New York, Americas, Seoul, South Korea, York, London, Paris, Milan, Hong Kong, Dubai, Taipei, Tokyo, Los Angeles

☆ The art market is in a correction as big spenders fade
▼ + stars: | 2024-10-24 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

The number of wealthy collectors surveyed who plan to purchase art in the next year fell to 43% from over half in 2023. The median spending on art by wealthy collectors remains stable at around $50,000 a year, according to the survey. Higher interest rates also raised the opportunity cost of buying art, since wealthy collectors could earn an easy 5% or more from cash and Treasuries. Just as in the classic-car market, the art market is going through a generational shift that's created a mismatch between supply and demand. According to the survey, the high end of the art market, or works priced at $10 million or more, was the strongest before 2022.

Persons: Andy Warhol, Jean, Michel Basquiat, Wiktor, Robert Frank, Phillips, Bonhams, Paul Donovan, Xers, they're, Donovan, Gen Xers, Gen Organizations: Art Basel, UBS Survey, UBS Global Wealth Management, Art Basel Miami Beach, Dealers, UBS Locations: London, United Kingdom, Christie's, Sotheby's, New York, East, Ukraine, Europe, China

☆ LVMH had a rough week. That's a bad sign for the luxury sector.
▼ + stars: | 2024-10-19 | by ( Madeline Berg | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . LVMH, the largest of the luxury conglomerates, announced its third-quarter earnings this week, and the results were grim. AdvertisementWhile personal luxury sales in China grew by more than 37% each year from 2019 through 2021, that annual growth is not expected to hit more than 4.2% through 2028, according to EMARKETER data. AdvertisementEMARKETER's Canaves pointed to the collaborations and moves toward streetwear that helped some brands emerge from the last luxury slump. Of course, any expansion into new categories should not take attention from handbags and clothing, the revenue drivers of luxury brands.

Persons: LVMH, —, Louis Vuitton, Salvatore Ferragamo, Goldman Sachs, Gucci, Hermès, Jean, Jacques Guiony, Adam Cochrane, Chanel, Canaves, Guiony, Birkin, Deutsche Bank's Cochrane, Cartier, Brunello Cucinelli, Rambourg, Louis Organizations: Service, Revenue, Louis, Burberry, Business, Deutsche Bank, Gucci, Deutsche Bank's, Chez Locations: China, Asia, Japan, COVID, streetwear, Paris

☆ A 23,000-square-foot mansion on Long Island's Gold Coast is on sale for $33.5 million. Look inside the home nicknamed 'Shangri-La.'
▼ + stars: | 2024-10-09 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +2 min

Brookville has been named one of the most affluent neighborhoods in the US. The home, nicknamed "Shangri-La," has eight bedrooms and sits on 21.9 acres of land. One of these properties is a $33.5 million mansion nicknamed "Shangri-La," which has been on the market for a year and a half. It's located in the small village of Brookville, which has been named one of the most affluent neighborhoods in the US. AdvertisementKeep scrolling to see inside this expansive property in one of the country's most affluent neighborhoods.

Persons: —, Daniel Gale Sotheby's Organizations: Service, Survey Locations: Brookville, Long, of Long, , New York

☆ Zara's website is a confounding headache — but it's also the secret to its success
▼ + stars: | 2024-10-08 | by ( Maria Noyen | Nora Redmond | ) www.businessinsider.com time to read: +5 min

Zara's website is often ridiculed for being confusing. This helps Zara target aspirational shoppers who can't afford to splurge on high fashion. Luxury giants such as LVMH and Kering have seen sales slow in recent months, in part because aspirational shoppers are being squeezed. Zara stores have a minimalist look. It's reminiscent of the experience of browsing luxury brands online, she says, where customers looking to add a ready-to-wear item to their basket often have to find a boutique where the product is available first.

Persons: —, Zara, Kering, it's, Rober, Tariro Makoni, Makoni, Burberry, Gucci, Carlotto, Omer Messinger, Yves Saint Laurent's, Stefano Pilati, Cindy Crawford, Kaia Gerber, Mike Marsland, Sokolova, Zara ., Crawford, Kaia —, Saint Laurent Organizations: Service, Europa Press, Getty, Business, Sotheby's Institute of Art Locations: Zara, Instagram, Paris, Saint

☆ A 6-acre Vanderbilt equestrian estate from the Gilded Age is listed for $3.5 million. Take a look inside.
▼ + stars: | 2024-10-07 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Sandy Point Farm was built in 1902 for Reginald Claypoole Vanderbilt in Portsmouth, Rhode Island. Sandy Point Farm, now listed for $3.5 million, has 24 stables and a 15,000-square-foot riding arena. Go to newsletter preferences Thanks for signing up! AdvertisementRhode Island is full of architectural marvels from the Gilded Age, but these historic properties rarely hit the market. That's what makes Sandy Point Farm, a 1902 equestrian estate that belonged to a Vanderbilt heir, a rare find.

Persons: Reginald Claypoole Vanderbilt, Cornelius Vanderbilt II, — Organizations: Service Locations: Sandy Point, Portsmouth , Rhode Island, Newport . Sandy Point, Rhode, Sandy, Vanderbilt

☆ CNBC Sport: A responsible look at women's sports exuberance
▼ + stars: | 2024-10-03 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +28 min

Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest. You have the WNBA rights term worth $2.2 billion over 11 years with league expansion going from 12 to 15 teams. Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest.

Persons: Alex Sherman, Jeff Zucker, Patrick Whitesell, Zucker, Scripps –, it's, Alex Michael, he's, Michael, they're, There's, Caitlin Clark, Michael said, weathers, AEW, I'm, Tony Khan —, he'd, Khan, US Networks Kathleen Finch, Max, hasn't, Finch, Rob Manfred, doesn't, CNBC's Lillian Rizzo, Craig Kilborn, Barrett, Jackson, Caitlin Clark's, You've, Soccer League's Nielsen, Tom Brady, Father, Brady, Jess Golden, Michael Jordan, Libs, Jim France, OneFootball, Lionel Messi, Jessica Pegula, CNBC's, Venu, Fubo, Venu …, Nike, Matthew Friend, John Donahoe, Elliott Hill, Sabrina Ionescu –, Jane Hali, Jessica Ramirez, AE1, Gabrielle Fonrouge, Ariel Atkins, DiDi Richards, Craig Hudson Organizations: CNBC, Endeavor, WNBA, NCAA, National Women's Soccer League, Amazon, CBS, ESPN, Scripps, NBA, Fox, NBC, Apple, Google, MLS, Clark, Warner Bros ., TNT, TBS, Warner Bros, Discovery, US Networks, Diamond Sports Group, U.S, Bankruptcy, Southern, Southern District of, Major League Baseball, Atlanta Braves, MLB, Holdings, UFC, WWE, WME Sports, ATP, Miami, NCAA Women's, Soccer, Angel City FC, NFL, Premier League, Netflix, Tech, CNBC Sport, Father Time, NASCAR, Motorsports, Major League Soccer, American, NHL, Buffalo Sabres, Bills, Disney, International Center for Law & Economics, Nike, New York Liberty, Air Force, Air Jordan, League Men's NCAA, Gonzaga, Pac, West Coast Conference, FloSports, Sports, Indiana Fever, Washington Mystics, Capital, Washington , D.C, Washington Post Locations: York City, Southern District, Southern District of Texas, OpenBet, U.S, Kobe, Washington ,

☆ See Tom Brady's million-dollar watch collection that's headed to auction, including a custom Audemars Piguet
▼ + stars: | 2024-10-02 | by ( Mykenna Maniece | ) www.businessinsider.com time to read: +2 min

In December, Tom Brady will auction five pieces from his luxury watch collection at Sotheby's. AdvertisementSeven-time Super Bowl champion Tom Brady is passionate about more than just football. The auction comes amid fluctuations in the luxury watch industry. AdvertisementWhile Sotheby's has the third-most watch sales among auction houses this year, with more than $72 million in sales so far, EveryWatch reported, that's a steep decline from the auction house's $155 million in watch sales last year. Here are the five pieces from Brady's collection that are heading to auction, with estimated values ranging from $12,000 to $800,000, per Sotheby's.

Persons: Tom Brady, Audemars Piguet, Patek Philippe, —, I've, Brady, Sotheby's, EveryWatch, Sylvester Stallone's, Philippe Grandmaster, Tom, Richard Lopez Organizations: Rolex, Service Locations: Sotheby's

☆ Tom Brady to put his watch collection up for sale at Sotheby's
▼ + stars: | 2024-10-01 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

Legendary quarterback Tom Brady is putting his valuable watch collection up for sale. The seven-time Super Bowl champion's collection will be available this December through auction house Sotheby's as part of "The GOAT Collection: Watches and Treasures from Tom Brady." "I'm excited to give fans and collectors a chance to own and cherish these special pieces from my journey just like I have." Brady said his passion for timepieces began in high school after his parents gave him his first watch as a graduation gift. It wasn't until Brady's first Super Bowl in 2002 that his collection really took off.

Persons: Tom Brady, Philippe, Audemars Piguet, I've, Brady, timepieces, Richard Lopez, Sotheby's, Brady's Organizations: Rolex, IWC

☆ Huge diamond necklace worn to 2 British coronations goes on sale
▼ + stars: | 2024-09-24 | by ( Amarachi Orie | ) edition.cnn.com time to read: +4 min

CNN —A diamond necklace that has been worn at two British coronations, and is thought to have stones from the infamous necklace at the heart of a Marie-Antoinette scandal, is expected to fetch up to $2.8 million at auction. PA Images/Getty ImagesAfter the family parted with the diamond piece in the 1960s, it was exhibited in the American Museum of Natural History before being acquired by a private collector. Sotheby'sThe piece consists of three rows of diamonds that trail on either side into a diamond tassel. A glittering scandalSome of the diamonds from the necklace may have come from the piece at the heart of the “Affair of the Diamond Necklace” scandal, according to the auction house. The necklace, in the hands of a trickster, had in the meantime actually been broken up and sold in London.

Persons: Marie, Antoinette, Royal, Noble, Sotheby’s, Marjorie Paget, marchioness of, King George VI, Queen Elizabeth II, Lady Woolton, Marquess, Marchioness, ”, Andres White Correal, Hope Diamond, Louis XVI, of, Queen Organizations: CNN, Westminster Abbey, American Museum of Locations: Sotheby’s, London, Geneva, Switzerland, Anglesey, marchioness of Anglesey, Europe, Middle, Golconda, of France

☆ Sotheby's auctions 'once-in-a-lifetime' trip experiences in New York and London
▼ + stars: | 2024-09-16 | by ( Monica Pitrelli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSotheby's auctions 'once-in-a-lifetime' trip experiences in New York and LondonTwo auctions — one an ode to fashion designer Alexander McQueen, and the other an exploration of whiskey-tasting in the United States — are now open for bidding. Themed trips based on Sotheby's sales categories, such as fashion, art and fine wine, are the product of a partnership between the auction house and Marriott, reports CNBC's Monica Pitrelli.

Persons: Alexander McQueen, CNBC's Monica Pitrelli Locations: New York, London, United States

☆ Classic car sales stall in Monterey auctions as new generation takes charge
▼ + stars: | 2024-08-23 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Auction sales during Monterey Car Week fell 3% from last year, as a shift from older to newer cars left a pileup of unsold classics from the 1950s and 1960s. Of the 1,143 cars up for sale, only 821 sold — marking a 72% sell-through rate, according to Hagerty. There were simply too many similar cars at too many auctions to generate strong prices and sales. "It's saturation," said Simon Kidston, the founder of Kidston and a leading advisor to wealthy car collectors. At the same time, a new generation of collectors driving the market — mainly Gen Xers and millennials — prefer cars from the 1980s, 1990s and 2000s.

Persons: Robert Frank, Bonhams —, Simon Kidston, Xers, millennials Organizations: Monterey Car, Arrow, Gooding & Company, Ferraris, Credit, Gooding, Company, Ferrari, Sotheby’s Locations: Monterey —, Monterey

☆ A 1954 Mercedes worth up to $70 million will be among legendary racing cars up for sale soon
▼ + stars: | 2024-08-13 | by ( Jack Guy | ) edition.cnn.com time to read: +4 min

CNN —A 1954 Mercedes-Benz W196 Streamliner valued between $50-70 million is among the historic cars set to be sold by the Indianapolis Motor Speedway Museum. “These vehicles will be some of the world’s most significant cars ever sold,” Gord Duff, global head of auctions at RM Sotheby’s, said in the statement. The cars will be sold at different events late this year and in 2025, according to the statement. In 2022, a very rare 1955 Mercedes-Benz SLR coupe that had been kept in the German automaker’s collection was sold to a private buyer for €135 million ($142 million at the time). “The Ferrari 250 GTO is the motoring market’s equivalent of Van Gogh’s ‘Sunflowers’ and a talisman for any top-end collection,” he said.

Persons: Mercedes, Juan Manuel Fangio, Stirling Moss, Fangio, Moss, Ferrari 250LM, Ferrari, Ford GT40, ” Gord Duff, Joe Hale, “, Laurin, Mercedes Brookland, Craig Breedlove, Lee, David MacNeil, James Knight, Van, ” Organizations: CNN, Benz, Indianapolis Motor Speedway Museum, Chief, Sotheby’s, Prix, Le, Sotheby's, Chevrolet Corvette SS, XP64, Ford, Indianapolis, Indianapolis Motor, Indianapolis Motor Speedway, Le Mans, IMS, Klement, Ferrari Locations: Buenos Aires, Argentina, Monza

☆ India's Bharti to buy Drahi's stake in BT, worth $4 billion
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +2 min

India's Bharti Enterprises said it would acquire a 24.5% stake in BT , worth about 3.2 billion pounds ($4 billion), buying out the British company's top investor, telecoms tycoon Patrick Drahi, as his Altice group struggles with high debts. The Indian company said it would buy an initial 9.99% stake before seeking to add the remaining 14.51% following regulatory approvals. Bharti said it supported BT's executive team and strategy as the group pushed forward with an "ambitious" transformation programme to deliver long-term sustainable growth. BT's shares have risen by 24% in the last six months as the fruits of its long-term investment plan to build the country's fibre network start to materialise. "This scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy," Kirkby said in a statement following the investment.

Persons: India's, Patrick Drahi, Bharti, Drahi, Carlos Slim, Allison Kirkby, Kirkby Organizations: India's Bharti Enterprises, BT, UK National Security and Investment, Bharti Global, BT Group Locations: Abu Dhabi

☆ Sotheby’s expands Hong Kong footprint with cavernous new exhibition and retail space
▼ + stars: | 2024-07-29 | by ( Oscar Holland | ) edition.cnn.com time to read: +5 min

CNN —A fossilized mammoth skull, centuries-old ceramics and Banksy’s famous self-shredding painting are among hundreds of high-value collectibles on show at Sotheby’s ambitious new retail outpost in Hong Kong. With younger collectors seemingly in mind, items on the first floor range in price from 5,000 to 50 million Hong Kong dollars ($640 to $6.4 million). The venture is the latest signal that major auction houses still consider Hong Kong to be their long-term hub in Asia. In June, Hermès also unveiled its expanded retail space in the neighborhood. It has simultaneously sought to grow its footprint in Hong Kong — not only with its newly unveiled Maison, but also a nearby 36,000-square-foot regional headquarters, due to open later this year.

Persons: Maison, Hong Kong, Art Basel’s, Isaac Lawrence, Louis Vuitton, Hermès, Sotheby’s, Patrick Drahi, Hong Kong —, Christie’s, Zaha Hadid’s, Phillips, Bonhams, Nathan Drahi Organizations: CNN, Hong Kong, UBS, Art, Art Basel, Getty, PricewaterhouseCoopers, Louis, Sotheby’s Locations: Hong Kong, Central, Asia, China, Hong, Hong Kong's Central, AFP, London, Singapore, Shanghai, Sotheby’s, Sotheby’s Asia, Paris, New York

☆ Citadel's Ken Griffin buys a stegosaurus for $45 million in a record auction sale
▼ + stars: | 2024-07-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

People look at a virtually complete Stegosaurus fossil on display at Sotheby’s on July 10, 2024 in New York City. Billionaire investor Ken Griffin, founder and CEO of hedge fund Citadel, purchased a late Jurassic stegosaurus skeleton for $44.6 million at Sotheby's on Wednesday, marking the most valuable fossil ever sold at auction. The 150 million-year-old stegosaurus named "Apex" measures 11 feet tall and nearly 27 feet long from nose to tail and it is a nearly complete skeleton with 254 fossil bone elements. Griffin won the live auction in New York on Wednesday after competing with six other bidders for 15 minutes. In 2021, he paid $43.2 million for a first-edition copy of the U.S. Constitution, outbidding a group of cryptocurrency investors.

Persons: Ken Griffin, Griffin, Apex, Sotheby's, outbidding Organizations: Billionaire, Citadel, Apex, Chicago's, Museum, Constitution, Crystal Bridges Museum of American Art Locations: New York City, New York, U.S, America, Moffat County , Colorado, Argentina, Arkansas

☆ Citadel CEO Ken Griffin just broke another record by paying $45M for this dinosaur fossil
▼ + stars: | 2024-07-18 | by ( Jaures Yip | ) www.businessinsider.com time to read: +2 min

Read previewBillionaire Ken Griffin has a new record-breaking item for his record-breaking home. The hedge fund manager paid $44.6 million for a roughly 150 million-year-old mounted Stegosaurus skeleton, nicknamed "Apex." The purchase blew past Sotheby's estimated maximum of $6 million and shattered the previous record sale of $32 million for a Tyrannosaurus Rex skeleton in 2020. AdvertisementThe Citadel CEO, who, according to Forbes, is worth about $38 billion, isn't a stranger to record-breaking sales. In 2019, Griffin paid $238 million for a New York City penthouse, which broke the record for the most expensive home ever sold in the US.

Persons: —, Ken Griffin, Griffin, Apex, Kenneth C Organizations: Service, Business, Citadel, Forbes, New, Field Museum, Griffin, Crystal Bridges Museum of American Locations: New York City, Miami, Dade County, America

☆ Stegosaurus skeleton sets auction record, selling for $44.6 million
▼ + stars: | 2024-07-18 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +2 min

CNN —A Stegosaurus skeleton has become the most valuable fossil ever sold at auction, being snapped up for $44.6 million in New York. The dinosaur fossil was sold on Wednesday to an anonymous buyer after it was sought after by seven bidders, according to Sotheby’s, the auction house handling the sale. The fossil, nicknamed “Apex,” smashed its pre-sale estimate, which was between $4 million and $6 million. Apex became the most valuable fossil ever sold at an auction, according to Sotheby's. According to Sotheby’s, it sold “Sue,” a Tyrannosaurus rex and the first ever dinosaur to be sold at auction, for $8.4 million in 1997.

Persons: ”, Jason Cooper, Sotheby’s, Steve Brusatte, ” Brusatte, ” Sotheby’s, Apex, Sue, “ Stan Organizations: CNN, Apex, Scotland’s University of Edinburgh Locations: New York, Moffat County , Colorado, U.S, America, Sotheby’s

☆ Millionaires are leaving Hong Kong, but its art scene is booming
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: +13 min

Narration: Home to a host of financial institutions, Hong Kong is one of the world's wealthiest cities. The Hong Kong Art Gallery Association recorded a 27% increase in member galleries between 2021 and 2023. Nicolas Chow: Chinese art and ancient Chinese art is really at the genesis of Sotheby's Hong Kong when we came here. Angelle Siyang-Le: We firmly believe that Hong Kong is the best place to do art business in Asia, Hong Kong is a natural melting. Emily Tan: That's all from Hong Kong – join us next time in a new city as we explore 'The Art of Appreciation.'

Persons: –, Nicolas Chow, Emily Tan, we've, they've, It's, Emperor Chen, Chen, it's, I'm, who'll, she's, Mak2, Allison Cheung, Angelle, Hong Kong, they're, Emily, Hong Kong – Organizations: Hong, Hong Kong Art Gallery, Asia, Art, Basel, Art Basel Locations: Hong Kong, Asia, Art Basel, Sarthe, Hong Kong's, Swiss, Basel, Miami, Paris, Hong, US, Australia, Switzerland, France, Southeast Asia, Korea, Mak2, Sims

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