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May 19 (Reuters) - Auction house Sotheby's announced Friday seven non-fungible tokens from bankrupt cryptocurrency hedge fund Three Arrows Capital sold for about $2.5 million. The auction was part of liquidating Three Arrows, according to a February memo from Teneo, one of the court-appointed liquidators. Singapore-based Three Arrows was the first major crypto firm to go bankrupt in 2022, brought down by the collapse of cryptocurrencies Luna and TerraUSD. Non-fungible tokens (NFTs) are a blockchain-based asset that represents ownership of a digital item, such as an image, video or piece of text. The market for NFTs exploded in 2021, and auction houses including Sotheby’s and Christie’s joined the craze.
CNN —A 10-foot-high bronze spider has set a new auction record for a sculpture by a woman artist, Sotheby’s announced Friday. Louise Bourgeois’ 1996 “Spider,” which stands at over 10 feet tall and more than 18 feet across, sold for $32.8 million including fees at a sale in New York on Thursday evening. The sale also set a new auction record for a work by Bourgeois. In May 2019, another sold for $32.1 million with fees at Christie’s in New York. The sculpture sold on Thursday evening was previously owned by Brazil’s Fundação Itaú.
In 2019, Sotheby’s sold a work by Giovanni Battista Tiepolo, the master painter, that was left behind in Austria when a Jewish gallery owner fled the Nazis in 1938. Sotheby’s says that at the time of the sale it didn’t know that history, and so the auction catalog only mentioned that the work came from a “distinguished private collection” and had once been in the possession of the Galerie Wolfgang Böhler in Bensheim, Germany. But, according to court papers filed Friday, the painting had actually passed through the hands of Julius Böhler, a separate and unrelated art dealer in Munich whom American authorities described in 1946 as someone who had been “implicated in art looting activities.”Now three heirs of the Jewish gallery owner, Otto Fröhlich, are saying in the court papers that Sotheby’s “misled the public” by attributing the painting to the wrong gallery. This had the effect, the heirs said, of making a sale easier and “perpetuating the very cycle of injustice and exploitation that began in 1938 and that the international and national restitution laws and policies were designed to prevent.”Sotheby’s, in response, attributed the provenance attribution in the 2019 catalog to “human error.” The auction house said in a statement that it conducted new research after first hearing from the heirs and learned of an owner before Fröhlich who had been subject to Nazi persecution and whose heirs may have grounds for a claim.
The price surpasses the $30.8 million paid in 1994 for Leonardo da Vinci’s Codex Leicester manuscript, Sotheby's said. The document offers a critical link bridging Jewish oral tradition to the modern Hebrew Bible. The auctioneer said the Codex Sassoon had been dated to either the late 9th or early 10th century on both scientific and paleographic grounds and contains almost the entirety of the Bible. The Hebrew Bible contains 24 separate books organized into three parts — the Pentateuch, the Prophets, and the Writings. Starting with the book of Genesis and ending with Chronicles, the Hebrew Bible is foundational to Judaism, as well as Christianity and Islam.
The oldest near-complete Hebrew Bible sold at Sotheby’s for $38.1 million on Wednesday, one of the highest prices for a book or historical document ever sold at auction. The volume, known as the Codex Sassoon, includes all 24 books of the Hebrew Bible, minus about eight leaves, including the first 10 chapters of Genesis. Researchers have dated it to the late ninth or early 10th century, making it the oldest near-complete Hebrew Bible known to exist. Speculation had percolated for months over who might have the desire — and deep pockets — to acquire the Bible, which carried an estimate of $30 million to $50 million. The Codex Sassoon will be donated to the museum (previously known as the Museum of the Jewish Diaspora) and be part of the core exhibition.
London CNN —A pair of jars purchased as part of a batch of ceramics from a London thrift store for £20 ($25) sold for almost 3,000 times that after they were found to date back to the Qing dynasty. They saw the items in a thrift store last year and just “had to acquire them,” without even knowing their value. “I think anyone who is in the presence of imperial Chinese porcelain, regardless of their experience, will feel drawn to them on some level,” Forrest said. But he added that Chinese porcelain is a very specialized field and, given the donations charities receive, charity workers can be forgiven for overlooking them. However, he said the seller would donate a “significant portion” of the profits to the charity that owned the thrift store, although no exact sum has been given.
In 2020, Russell Franchi’s clients liked many features of a beach home in South Walton County, Fla., but it was missing one thing: an elevator. The clients, who had limited mobility, considered retrofitting an elevator, but ultimately walked away from the deal before finding a house that already had one installed. Kaitlind Meeks-Price, a sales representative of Delaware Elevator in Salisbury, Md., said that elevators are typically 3 feet by 4 feet, but she’s seen them go up to 15 square feet. A basic, three-stop elevator, including installation, typically starts around $32,000 to $35,000. When it comes to maintaining the lift, Ms. Meeks-Price suggests having it serviced at least once a year for the first five years.
Some 1,500 items, including handwritten lyrics, art and collectibles from Mercury's London home, Garden Lodge, have been looked after by his close friend Mary Austin since his death from AIDS-related pneumonia in 1991. "For many years now, I have had the joy and privilege of living surrounded by all the wonderful things that Freddie sought out and so loved. "It was important to me to do this in a way that I felt Freddie would have loved, and there was nothing he loved more than an auction." Sale highlights will go on tour in New York, Los Angeles and Hong Kong before the main London exhibition begins on August 4. ($1 = 0.8017 pounds)Reporting by Marie-Louise Gumuchian; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A private island on North Carolina’s Lake Norman is coming on the market for $22 million. If it fetches that price, it will be one of the most expensive properties ever sold in the state, according to listing agents Jessica Grier and Ben Bowen of Premier Sotheby’s International Realty.
(“I hired him to be a collaborative partner, then he became my partner partner,” she said.) The Harlem townhouse is going back on the market for $3.25 million, according to the listing brokers Stan Ponte and Colin Montgomery of Sotheby’s International Realty. Measuring around 4,900 square feet over four stories, the townhouse has five bedrooms, two full bathrooms and a powder room. “In the late 1800s it was a place for horses, and now it’s a place to park your car,” Mr. Montgomery said. “What was a luxury then is still a luxury today.”
Mr. Chiu, an internationally acclaimed pianist, often performed for their guests in the large, round music room. “Now there are a lot of organizations bringing together the arts, so we don’t need to maintain a separate venue,” said Ms. Esposito, 63, a corporate innovations consultant and an artist. Mr. Chiu, 58, also spends about a week every month in Pittsburgh, where he is a professor of piano at Carnegie Mellon University. “We spent a lot of time looking at and bidding on houses that were right on or near the water,” Ms. Esposito said. “We are looking at this long term,” Ms. Esposito said.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. After a restoration, a Frank Lloyd Wright-designed house in Tulsa, Okla., is going on the market for $7.995 million, according to listing agent Rob Allen of Sage Sotheby’s International Realty.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A home in Pennsylvania’s Bucks County is aiming for a local record with an asking price of $14.5 million, said Cary Simons of Kurfiss Sotheby’s International Realty, who is marketing the property with New York agent Stan Ponte.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A Washington, D.C., penthouse has sold for $12.762 million, becoming the most expensive condo sale in the nation’s capital city, according to real-estate agent Matt McCormick of TTR Sotheby’s International Realty, who represented the buyer in the transaction.
LONDON, April 6 (Reuters) - A rare 17th-century manuscript, which was key to the restoration of the British monarchy under King Charles II a decade after the execution of his father, will be auctioned next month, coinciding with the coronation of his current namesake. One of two surviving copies is to go under the hammer in May at London auction house Sotheby's, a couple of days before the current monarch King Charles III is crowned at London's Westminster Abbey. "It is through this declaration that in 1660 the monarchy was re-established and the terms by which they would rule agreed, which still apply today, 350 years later as Charles III ascends the throne." Sotheby's said five copies of the declaration were made, with the only other surviving one kept in the parliamentary archives. ($1 = 0.8019 pound)Reporting by Michael Holden; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Hong Kong sharpens fine art edge over Singapore
  + stars: | 2023-03-24 | by ( Thomas Shum | ) www.reuters.com   time to read: +3 min
HONG KONG, March 24 (Reuters Breakingviews) - Chinese collectors are piling into Hong Kong for Art Basel this week. As the financial hub jostles with rival Singapore, its vibrant art market could help it grab a bigger slice of Asia’s wealth management pie. The cream of that crop tends to go on the block in Hong Kong. Hong Kong is hardly out of the economic woods. But the chattering crowds at Art Basel should remind investors that the city retains a profitable artistic edge.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A home on the outskirts of Asheville, N.C., has sold for $9.6 million, setting a record for the area, according to listing agent Sandi AuBuchon of Premier Sotheby’s International Realty.
Will Home Prices Drop in 2023?
  + stars: | 2023-03-03 | by ( ) www.wsj.com   time to read: +5 min
As of January, prices were down 13% from that June high, according to the National Association of Realtors. Will home prices drop in 2023? The University of California San Diego, for example, predicts prices will drop 5% nationally and as much as 18% in some cities. As a result, the U.S. housing market has been short on for-sale listings for more than a decade. “This is the easiest way to find out if you got a good price on your home in comparison to what else is on the market.”Finally, understand your finances.
Restituted Kandinsky Sells for $45 Million, Setting Record
  + stars: | 2023-03-01 | by ( Kelly Crow | ) www.wsj.com   time to read: 1 min
The painting was recently restituted to the heirs of a German-Jewish family who sold their art collection under Nazi persecution. Sotheby’s London sold a brightly colored Wassily Kandinsky, “Murnau with Church II,” for $45 million on Wednesday, resetting the artist’s auction record and bolstering collector confidence in blue-chip art values. The 1910 landscape was recently restituted to the 13 heirs of a German-Jewish businessman persecuted by the Nazis, Siegbert Stern, and his art-collecting wife, Johanna Margarete Stern-Lippmann. Mr. Stern died in Berlin in 1935, and Ms. Stern-Lippmann was later forced to sell their art-filled villa before being killed at Auschwitz in 1944.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A St. Louis-area home with a carwash has sold for $13 million, making it one of the priciest sales ever recorded in Missouri, according to listing agent Stephanie Oliver of Dielmann Sotheby’s International Realty.
Hong Kong’s office landlords face a tough rebound
  + stars: | 2023-03-01 | by ( Thomas Shum | ) www.reuters.com   time to read: +3 min
HONG KONG, March 1 (Reuters Breakingviews) - Hong Kong offices are emptier than in other Asian financial centres. Singapore and Tokyo boast rates well under half of Hong Kong’s level, and figures there are either improving or roughly unchanged. Last year, mainland-based companies accounted for less than 6% of all leases in Hong Kong’s key Central business district, from nearly 30% in 2019. Hong Kong’s economy shrunk for three of the last four years, and its population is slimming too. However, the plan to reduce its office footprint may not apply to Hong Kong, a person familiar with the situation told Breakingviews.
Sotheby’s auction house will unveil on Tuesday in Dubai what many sneaker collectors consider to be the Holy Grail: the “Dynasty Collection,” or six Nike Air Jordan sneakers that Michael Jordan, His Airness himself, wore during the six NBA championship games the Chicago Bulls won in the 1990s. The price for the collection, on offer in a private sale? Sotheby’s won’t disclose it. But to sneaker collectors, it’s close to priceless: These shoes are like the Mona Lisa, the David and a few of Monet’s Water Lilies rolled into one. Memorabilia experts place their value well into the millions, which would make the collection the most expensive set of shoes ever sold.
The Codex Sassoon, dating from the late 9th or early 10th century, sold for $38.1 million at Sotheby’s in New York on Wednesday. It is believed to be the earliest and most complete Hebrew Bible. The Codex Sassoon fell short of its high estimate of $50 million, however. A rare findThe Codex Sassoon is believed to be the very first codex, or manuscript in book form, of the Hebrew Bible. Top image: A woman examines the centuries-old Hebrew Bible.
REUTERS/Brendan McDermidNEW YORK, Feb 15 (Reuters) - The world's oldest and most complete Hebrew Bible will go on display in London next week before an auction in May where it could sell for up to $50 million, Sotheby's said on Wednesday. Billionaire investor Kenneth Griffin set the record in 2021 when he paid $43.2 million at a Sotheby's auction for a first-edition copy of the U.S. Constitution. The document offers a critical link bridging Jewish oral tradition to the modern Hebrew Bible. The Hebrew Bible contains 24 separate books organized into three parts — the Pentateuch, the Prophets and the Writings. Starting with the book of Genesis and ending with Chronicles, the Hebrew Bible is foundational to Judaism, as well as Christianity and Islam.
It's located in Brentwood, Los Angeles, where a six-bedroom property sold for more than $14 million this month, according to Zillow. Daniel Dahler for Sotheby’s International RealtyA six-bedroom, 13-bathroom property in Brentwood sold for $14.5 million in February, Zillow data shows.
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