Christie's Fabergé Sale Hits $17.3M; Porsche Rules Out an Electric 911; Hugo Boss Weighs a €2B Bid

June 11: Christie's Fabergé Sale Hits $17.3M; Porsche Rules Out an Electric 911; Hugo Boss Weighs a €2B Bid
A $17.3M Fabergé collection at Christie's, a strong Asian-art result in Paris, the Empire State builder's Patek heading to Phillips, Porsche ruling out an electric 911, Frieze London's return, and where the luxury names opened.

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Auction Results
- Christie's "A Treasured History: The Stream Family Collection" (New York, June 10): $17.3M total, 99% sold by lot, 231% of the low estimate. The collection of Matilda Geddings Gray and her niece Matilda Gray Stream, rich in Fabergé tied to Tsar Nicholas II; online portion open through June 17
- Christie's "Art d'Asie" (Paris): €9.1M, about 3x its pre-sale estimate, part of the 9th Printemps Asiatique; bidders from 20+ countries

Coming to the Block
- A 1929 yellow-gold Patek Philippe with a Tiffany dial, owned by Paul Starrett (who built the Empire State Building with his twin brother): Phillips New York Watch Auction, Lot 27, June 13, est. $15,000–$30,000

Cars
- Porsche CEO Michael Leiters rules out an electric 911; the 911 stays combustion (hybrid in the GTS and Turbo S) as EV demand cools — the Taycan has sold below expectations and the electric 718 is delayed

Art Market
- Frieze London returns this October with 172 galleries (≈300 with Frieze Masters, Regent's Park, Oct 14–18); a new curated section and a David Zwirner / Joan Miró estate collaboration headline Masters

Fine Jewelry
- At the Couture show (Las Vegas), retailers describe a "K-shaped consumer": strong demand at the high and entry ends, a softer $5,000–$10,000 middle (WWD)

Luxury Leadership & Deals
- Saint Laurent names Anouck Duranteau-Loeper (ex-Isabel Marant CEO) as deputy CEO, in charge of product
- Hugo Boss weighs an unsolicited ~€2 billion takeover offer from Mike Ashley's Frasers Group, which already owns ~26% (WWD)

Quick Hits
- Old Forester's collectible President's Choice single barrels + Garrison Brothers sherry-cask bourbons
- Scientists report a new way to spot fake Van Goghs, using surface metrology

Markets
- Wall Street's worst day of 2026 yesterday (Middle East clashes + inflation), bouncing today as the US wound down its Iran strikes and oil gave back gains; The Economist: the world's strategic oil reserves are running out fast

Luxury Stocks at the Open (vs Wednesday's close; US names open later)
- LVMH (MC) 486 EUR −0.4%; Kering (KER) 252 EUR −1.5%; Hermès (RMS) 1,630 EUR −0.4%; Richemont (CFR) 168 CHF −0.4%; Swatch (UHR) 200 CHF flat; Watches of Switzerland (WOSG) 698p −0.5%; Burberry (BRBY) 1,118p flat

Week Ahead
- Today: Bonhams London Fine Watches; Christie's first London sale of South Asian modern & contemporary art in 7 years
- June 12: Christie's Important Watches (NY) + Christie's Paris Hermès online sale opens + Sotheby's Gem Drop
- June 13: Bonhams National Automobile Museum (Reno) + Phillips New York Watch Auction (the Starrett Patek)
- June 15: Sotheby's Important Watches

Also from ALT/FNDATA:
- Closing Price — Mon-Fri at 5 PM ET
- Auto Market — Thursdays

Creators and Guests

Host

Sharon Obuobi

What is Open Bid — Daily Morning Briefing on Auctions, Luxury & Markets?

Open Bid is your weekday-morning briefing on the world of luxury and collectibles. In under five minutes, host Sharon Obuobi covers the biggest stories across fine art, jewelry, watches, handbags, and collector cars — the record auction results, the moves inside the luxury houses, and what the markets are doing that morning — all backed by proprietary data from ALT/FNDATA. Whether you collect, invest, or just love this world, it's the fastest way to start the day informed.

Learn more at www.altfndata.com.

OPEN BID — Thursday, June 11, 2026

[INTRO]

Good morning. It's Thursday, June 11. I'm Sharon, and this is Open Bid from ALT/FNDATA.

[CHRISTIE'S — THE STREAM FAMILY COLLECTION]

We start with a strong result. A Treasured History: The Stream Family Collection, sold at Christie's in New York yesterday on June 10 with a total $17.3 million. This was the collection of two American women, Matilda Geddings Gray and her niece, Matilda Gray Stream. It was especially rich in Fabergé, including flowers, frames, and presentation boxes once linked to Russia's Tsar Nicholas II and Empress Alexandra. The live sale was 99% sold by lot, and the total reached 231% of the low estimate, more than double the low end of what Christie's had expected. An online portion stays open for bidding through June 17.

[CHRISTIE'S PARIS — ASIAN ART]

There was another strong result in Paris. Christie's Art d'Asie sale, part of the ninth edition of the Printemps Asiatique, or Asian Spring, totaled 9.1 million euros. This was about three times its pre-sale estimate. The sale drew bidders from more than 20 countries.

[COMING TO THE BLOCK]

A watch with real history is heading to auction. It is a yellow-gold Patek Philippe, made in 1929 with a Tiffany and Company dial. It belonged to Paul Starrett, the master builder who, with his twin brother, put up the Empire State Building. Starrett also built the Flatiron Building, the Plaza Hotel, and the old Penn Station. The watch goes under the hammer at Phillips in New York on June 13, as lot 27, with a modest estimate of 15,000 to 30,000 dollars.

[PORSCHE]

Some news for the car collectors. Porsche's chief executive, Michael Leiters, says an electric 911 is not happening. The company will keep investing in electric vehicles across the rest of its range, but its flagship sports car, the 911, will keep a combustion engine. The 911 has been offered as a hybrid for the past two years, in the GTS and Turbo S models, and that appears to be as far as Porsche will take it for now. The decision comes as electric demand has cooled: Porsche's battery-powered Taycan has sold below expectations, and the company has delayed its planned electric 718 sports car.

[FRIEZE LONDON]

To the art fairs. Frieze London returns this October with 172 galleries, and Artnet notes a few high-profile names are missing from the list this year. Together with its sister fair, Frieze Masters, the event will host almost 300 dealers in Regent's Park from October 14 to 18. A new curated section along with a collaboration between the David Zwirner gallery and the Joan Miró estate, headline Frieze Masters.

[FINE JEWELRY]

At the Couture show in Las Vegas, jewelers told WWD they are seeing what they call a K-shaped consumer: demand is strong at both the high end and the entry end of the market, while the middle is softer. The traditional sweet spot, pieces priced from 5,000 to 10,000 dollars, felt notably less prominent this year, even as the high-end client kept buying.

[LUXURY LEADERSHIP AND DEALS]

Two moves in the luxury houses. Saint Laurent has named Anouck Duranteau-Loeper, most recently chief executive of Isabel Marant, as its deputy chief executive, in charge of product. She will report to chief executive Cédric Charbit.

And Hugo Boss is weighing an unsolicited takeover offer from Mike Ashley's Frasers Group, which already owns roughly 26% of the German menswear maker. WWD reports the bid at about 2 billion euros.

[QUICK HITS]

Two quick ones.

In whiskey, Old Forester is about to release its collectible President's Choice single barrels, a high-proof bourbon and rye, and Garrison Brothers is dropping a pair of sherry-cask-finished bourbons.

In authentication, scientists say they have found a new way to spot fake Van Gogh paintings, using a technique called surface metrology to read the texture of a painting like a fingerprint.

[MARKETS]

A look at the backdrop.

Wall Street had its worst day of 2026 yesterday, on fresh Middle East clashes and inflation worries, with oil rising after President Trump said the US would resume strikes on Iran. This morning the mood has turned: stocks are bouncing and oil has given back its gains, after the US wound down its strikes and hopes grew that talks to reopen the Strait of Hormuz could resume. Separately, The Economist reports that the world's strategic oil reserves are running out fast.

[LUXURY STOCKS AT THE OPEN]

Here is where the European luxury names opened this morning, against Wednesday's close. The US names open later, at 9:30 AM Eastern.

LVMH, ticker MC on Euronext Paris, opened at 486 EUR, down about 0.4% from Wednesday's 488.

Kering, ticker KER on Euronext Paris, opened at 252 EUR, down about 1.5%.

Hermès, ticker RMS on Euronext Paris, opened at 1,630 EUR, down about 0.4%.

In Zurich, Richemont, ticker CFR on the SIX Swiss Exchange, opened at 168 Swiss francs, down about 0.4%, and Swatch, ticker UHR, opened at 200 Swiss francs, roughly flat.

In London, Watches of Switzerland, ticker WOSG, opened at 698 pence, down about 0.5%, and Burberry, ticker BRBY, opened at 1,118 pence, roughly flat.

[WEEK AHEAD]

On the calendar, today is busy in the auction salerooms.

Bonhams holds its London Fine Watches sale, and Christie's holds its first London sale of South Asian modern and contemporary art in 7 years.

Tomorrow, June 12, Christie's Important Watches is in New York, Christie's opens its Paris Hermès handbag sale online, and Sotheby's runs its Gem Drop sale.

On Saturday, June 13, Bonhams will sell about 100 cars from the National Automobile Museum in Reno, and Phillips holds its New York Watch Auction. Sotheby's Important Watches will follow on the 15th.

[OUTRO]

That is Open Bid for Thursday, June 11. Closing Price publishes this evening at 5 PM Eastern, and Auto Market publishes later today.

I'm Sharon, from ALT/FNDATA. Subscribe for notifications, give us a five star rating on Spotify and Apple Podcasts. I’ll talk to you in the next episode. Thank you for listening.