{"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":"Luxury Steadies as China Pulls Back; $25.6M Jadeite Necklace; Remembering Yaacov Agam; Netherlands and Germany Return 2,000 Artefacts to Ghana","html":"","width":"100%","height":180,"duration":355,"description":"June 24:Luxury Steadies as China Pulls Back; $25.6M Jadeite Necklace; Remembering Yaacov Agam; Netherlands and Germany Return 2,000 Artefacts to Ghana\nMarkets steady after a brutal two days, but China's big mid-year shopping festival flashes a warning for luxury; a 25.6 million dollar jade necklace tops our jewelry database; the Netherlands and Germany agree to return 2,000 looted treasures to Ghana; and the art world remembers a pioneer of kinetic art.\nALT/FNDATA\n- Membership: (Use PODCAST15 for 15% off) https://altfndata.com/go/ob-260624\n- Market reports: https://altfndata.com/go/ob-260624-r\n- Podcast episodes: https://altfndata.com/go/ob-260624-p\nMarkets: Steadying, and a Warning from China\n- After Tuesday's selloff (Nasdaq down about 4 percent on Fed-hike fears), European luxury steadied at the open: LVMH and Hermès each up about 0.5 percent, Brunello Cucinelli higher. The laggards were the same all week: Burberry down 2.5 percent, Watches of Switzerland down a third straight day (about 2.9 percent).\n- The bigger signal came from China. Its 618 mid-year shopping festival grew online sales just 4 percent year on year, down sharply from more than 15 percent last year (Syntun). For a luxury industry reliant on Chinese demand, that is a caution sign. Notably, secondhand and pre-owned sales jumped nearly 80 percent as shoppers traded down: the resale economy grows as the new-goods market cools.\nA $25.6 Million Jade Necklace (ALT/FNDATA data)\n- One of the highest jewelry results over the past year is a magnificent jadeite bead and coloured diamond necklace, sold for 25.6 million dollars at Christie's last month. Jadeite is the most prized gemstone in Chinese culture, and top imperial-green strands are rarer than fine diamonds.\n- The split, again: a cautious mass-market Chinese consumer, and a firm and dazzling top. At the very top, demand is undimmed.\nA Homecoming: 2,000 Treasures Return to Ghana\n- The Netherlands and Germany agreed to return more than 2,000...","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}