Open Bid — Daily Morning Briefing on Stocks, Auctions, Luxury Market

June 8: $50M Pollock Fails in Sotheby's Private Sale; Prada Heads to the Moon

In this episode:

$50M Pollock Fails in Private Sale
- A Jackson Pollock owned by dealer Arne Glimcher, reportedly priced ~$50M, failed to sell in a Sotheby's private sale
- Follows last week's news that Pace Gallery is cutting ~50 artists; CEO Marc Glimcher called the mega-gallery model "unfixable"
- Artnet asks whether the mega-gallery model is collapsing; reports Asia's art market is recalibrating

Leadership Moves
- Printemps names Remy Baume CEO, effective immediately — role vacant since September last year
- Carven names Kai Nesselrath (from Anthony Vaccarello's Saint Laurent studio) design director; debut collection for the ICCF-owned label at Paris Fashion Week in autumn

Prada in Space
- Prada and Axiom Space unveil a new inner-layer garment for NASA astronauts on the lunar surface, ahead of Artemis IV
- Shown at Prada's SoHo flagship; part of Prada's push to be the first major luxury house in the space industry

Quick Hits
- Bombardier's new Global 8000 flew Montreal to Nice in just over six hours (record)
- 'Entourage' actor Jeremy Piven sold his Hollywood Hills home for $6.85M — just $50K more than he paid in 2017, after first listing at $9.5M
- London: the buyer of a Regent's Park mansion flipped it for ~£195M (~$260M), a markup of ~£56M — one of the UK's highest-value home sales on record (Bloomberg)
- Espolon released a new Extra Anejo tequila finished in Chardonnay casks — its second extra anejo expression
- Timberland opened at the American Dream Mall (NJ) — part of a plan to open 20 new stores in fiscal 2027

Luxury Equities at the Open (European names; open / Friday close)
- LVMH (MC.PA): EUR 473.15 / 479.05 (-1.2%)
- Hermes (RMS.PA): EUR 1,591 / 1,619 (-1.7%)
- Kering (KER.PA): EUR 244.50 / 249.45 (-2.0%, weakest of the group)
- Richemont (CFR.SW): CHF 162.15 / 164.65 (-1.5%)
- Swatch (UHR.SW): CHF 201.20 / 203.30 (-1.0%)
- Sector down ~1-2% at the open, following Friday's global tech selloff; broader market rebounding. U.S. names open 9:30 AM ET (see Closing Price)

Week Ahead
- Sotheby's Magnificent Jewels — June 9, New York
- Christie's watches — June 10
- Bonhams watches — June 11
- Phillips watches — June 13-14
- Sotheby's watches — June 15
- Bonhams National Automobile Museum — June 13, Reno

Links:
- ALT/FNDATA: https://www.altfndata.com
- Pollock fails in private sale (Artnet): https://news.artnet.com/market/paint-drippings-art-industry-news-jun-8-2779191
- Is the mega-gallery model collapsing? (Artnet): https://news.artnet.com/multimedia/art-market-minute-jun-8-2779180
- Printemps names Baume CEO (BoF): https://www.businessoffashion.com/news/retail/printemps-names-remy-baume-ceo/
- Carven names Nesselrath (BoF): https://www.businessoffashion.com/news/luxury/kai-nesselrath-named-design-director-of-carven/
- Prada x NASA garment (BoF): https://www.businessoffashion.com/news/luxury/prada-unveils-new-garment-for-nasa/
- Bombardier Global 8000 record flight (Robb Report): https://robbreport.com/motors/aviation/bombardier-global-8000-record-flight-canada-france-1238310377/
- Jeremy Piven home sale (Robb Report): https://robbreport.com/shelter/celebrity-homes/jeremy-piven-house-los-angeles-hollywood-hills-1238292945/
- London mansion flip (Bloomberg): https://www.bloomberg.com/news/articles/2026-06-08/mystery-buyer-flips-london-mega-mansion-for-56-million-mark-up
- Leonardo Codex Atlanticus (Artnet): https://news.artnet.com/art-world/leonardotheka-da-vinci-codex-2779022

Also from ALT/FNDATA:
- Closing Price — Mon-Fri at 5 PM ET
- Art Market — Tuesdays at 8 AM ET
- Luxury Spending — Wednesdays at 8 AM ET
- Auto Market — Thursdays at 8 AM ET

Creators and Guests

Host
Sharon Obuobi

What is Open Bid — Daily Morning Briefing on Stocks, Auctions, Luxury Market?

Open Bid is your weekday morning briefing on the global auctions and marketplaces for luxury alternative assets. In under five minutes, host Sharon Obuobi delivers the key results, market data, and institutional developments across fine art, jewelry, watches, automobiles, and luxury goods — backed by proprietary data from ALT/FNDATA. Learn more about us at www.altfndata.com

OPEN BID — Monday, June 8, 2026

[INTRO]

Good morning. It's Monday, June the 8th. I'm Sharon Obuobi, and this is Open Bid from ALT/FNDATA.

[POLLOCK FAILS IN PRIVATE SALE]

A Jackson Pollock work owned by dealer Arne Glimcher has failed to sell in a Sotheby's private sale at a price of approximately $50 million. Artnet reports the painting did not find a buyer.

It follows last week's news that Pace Gallery is cutting roughly 50 artists from its roster and that chief
executive Marc Glimcher called the mega-gallery model "unfixable." Artnet this morning is asking openly whether that model is collapsing, and reports that Asia's art market is recalibrating. The pressure is concentrated at the top of the market.

[LEADERSHIP MOVES]

We have two new executive appointments in luxury.

Printemps, the French department store group, has named Remy Baume chief executive, effective immediately. The role had been vacant since September of last year which made it about nine months without permanent leadership.

And at Carven, Kai Nesselrath has been named design director. Nesselrath comes from Anthony Vaccarello's Saint Laurent studio, and will present his debut collection for the ICCF-owned label at Paris Fashion Week in the autumn.

[PRADA IN SPACE]

Prada and Axiom Space have unveiled a new inner-layer garment for NASA astronauts to wear on the lunar surface, ahead of the Artemis IV mission. The suit was shown at Prada's SoHo flagship in New York. It is part of Prada's push to be the first major luxury house to make inroads into the space industry.

[QUICK HITS]

We have a record in private aviation: Bombardier's new Global 8000 flew from Montreal to Nice in just over six hours.

On the collectible-spirits front, Espolon has released a new Extra Anejo tequila finished in Chardonnay casks. It is the brand's second extra anejo expression, and a notably different one.

In retail, Timberland has opened a store at the American Dream Mall in New Jersey as part of a plan to open 20 new stores in fiscal 2027.

[LEONARDO'S CODEX ATLANTICUS, COMPLETE]

In Florence, the Galileo Museum has reunited Leonardo da Vinci's Codex Atlanticus for the first time in roughly 400 years. The museum's Leonardotheka project digitally restored the 550 pages that a 16th-century sculptor had cut from the manuscript. The institution says it is retaining intellectual ownership of the digital reconstruction.

[LUXURY EQUITIES AT THE OPEN]

Let’s take a quick look at the European luxury names, which opened this morning.

LVMH, ticker MC on Euronext Paris, opened at 473 euros, down from a Friday close of 479.

Hermes opened at 1,591 euros, down from 1,619.

Kering, ticker KER, opened at 244 euros, down from a Friday close of 249.

In Zurich, Richemont opened at 162 Swiss francs and Swatch at 201 CHF. The sector is down roughly 1- 2% — following Friday's global tech selloff, though the broader market is rebounding this morning.

U.S. names open at 9:30 am Eastern; we'll have those tonight on Closing Price.

[WEEK AHEAD]

Sotheby's Magnificent Jewels in New York tomorrow (June 9th), followed by Christie’s, Bonhams and Phillips and Sotheby’s presenting watches sales throughout the week.

Bonhams presents a sale with National Automobile Museum on June 13th in Reno, Nevada.

[OUTRO]

That is Open Bid today for Monday, June the eighth. Closing Price is this evening at five PM Eastern.

I'm Sharon Obuobi, from ALT/FNDATA. Subscribe for notifications and I’ll talk to you in the next episode.