{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Open Bid — Daily Morning Briefing on Auctions, Luxury & Markets","title":"$35M Picasso Leads Art Basel; De Beers Sale Heats Up; Dow Hits a Record, European Luxury Holds as US Falls","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/60fc6c7c\"></iframe>","width":"100%","height":180,"duration":310,"description":"June 17: $35M Picasso Leads Art Basel; De Beers Sale Heats Up; Dow Hits a Record, European Luxury Holds as US Falls\nArt Basel opens with blue-chip buyers back and a $35M Picasso leading; the diamond giant De Beers may change hands; Christie's doubles its Old Masters estimate in Paris; and markets wait on the Fed's first decision under Kevin Warsh.\nALT/FNDATA\n- Membership (PODCAST15 for 15% off): https://altfndata.com/go/ob-260617\n- Market reports: https://altfndata.com/go/ob-260617-r\n- Podcast episodes: https://altfndata.com/go/ob-260617-p\n\nArt Basel Opens\n- The most important fair on the art calendar opened to collectors this week. Buyers moved quickly on blue-chip work on opening day, led by a Picasso at around $35M.\n- The mood: cautious but improving — dealers \"playing it safe\" and watching for a broader recovery after a couple of softer years.\nA Designer's Archive\n- The long-hidden personal archive of Martin Margiela, the famously private Belgian designer, is heading to auction — following news that Sotheby's will sell ~1,000 personal Karl Lagerfeld sketches. Designer archives are becoming their own collecting category.\nThe Diamond Giant\n- Anglo American is looking to sell De Beers, and a group led by Gareth Penny, a former De Beers chief executive, is said to be leading the race to buy it (Business of Fashion).\n- ALT/FNDATA data: The Ocean Dream, a coloured-diamond ring that fetched $17.4M at Christie's Geneva (Magnificent Jewels, May 13). Whoever buys De Beers is betting demand for stones like that holds.\nOld Masters\n- Christie's Maîtres Anciens (Old Masters) sale in Paris totaled ~€5.7M, doubling its pre-sale estimate — more evidence that well-curated material still draws strong bidding.\nMarkets\n- Yesterday's split: the Dow closed at a record (~52,000) while the S&P 500 and Nasdaq both slipped as tech took a breather.\n- This morning: Nasdaq futures higher; oil holding near a 3-month low (~$75/bbl); gold near its record (~$4,350); the dollar a touch softer....","thumbnail_url":"https://img.transistorcdn.com/1z6r8f5r5Nhr5bhZafuzDRKp6vb1jRw2SVyBQTEXHzQ/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8yZjBi/ZDI5ODQ1ZTAwOTg3/MzMyNTZmOTEwNTY2/NDFiYS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}