Sunday, 8th November 2009

 

Versace auction follows hot on the heels of YSL

Sotheby's is selling the contents of Italian fashion designer Gianni Versace's villa on Lake Como, a month after rival Christie's launched a record-breaking sale of Yves Saint Laurent's art and furniture collection raised £333m (€374m).

The third and final auction of the murdered designer's residence is expected to fetch over £2m ($2.8m) at the New Bond Street galleries in London next Wednesday.

The 550 lots of continental furniture, sculpture, paintings and silver works will include a never-before seen painting by Johann Zoffany, the only known work from a series of four paintings from the early years of the artist’s time in India, all previously thought to have been lost.

A pair of Italian cherry wood breakfront bookcases by Karl Roos, originally commissioned by Princess Pauline Borghese for the library at Palazzo Borghese in Rome, could raise £220,000 between them.

Versace, who spent some time at the Italian lake-front Villa Fontanelle, was murdered by serial killer Andrew Cunanan in 1997.

Christie's three day YSL auction last month in Paris which had been expected to raise €274m, surpassed expectations by nearly a third, giving the art market a much-needed shot in the arm.

Tags: Christie's , Sotheby's , Versace

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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