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June 29: London Art Market Beats the Brexit Blues with Its Biggest Haul in 10 Years; Christie's Sets World Record in Paris with €5.8M Handbag Sale; Luxury Recovers from the Top Down
London's art market posts its biggest summer auction haul in a decade; Christie's sets a world record for an online handbag sale in Paris; luxury starts to turn a corner, led by the US and China, even as the everyday shopper tires of higher prices; plus a calmer open to the week after the US and Iran agreed to halt attacks.
ALT/FNDATA
- Membership (Use PODCAST15 for 15% off): https://altfndata.com/go/ob-260629
- Market reports: https://altfndata.com/go/ob-260629-r
- Podcast episodes: https://altfndata.com/go/ob-260629-p
London's Art Market Beats the Brexit Blues
- London's summer auctions across the big three houses brought in around 560 million dollars, up roughly 300 percent on a year ago: the city's biggest haul in a decade, after ten years of post-Brexit drift.
- Sotheby's led with the Joe Lewis Collection, a 392.6 million dollar evening sale and the most valuable single-owner collection ever sold in Europe. Top lot: Modigliani's 1917 nude Nu assis au collier at about 63.9 million dollars (the season's highest). A René Magritte gouache, La Belle Promenade, made 21.2 million, up more than sevenfold since 2014.
- Christie's sold the Zabludowicz collection for 15.4 million pounds, led by Philip Guston's Mirror Head (3.9 million pounds), a Richard Prince Cowboy (1.5 million), and a Rose Wylie artist record (292,000 pounds). Phillips added 11.9 million pounds across 90 lots.
- The caveat: The Art Newspaper cautions that one strong season won't transform a market still below its decade-ago peaks, with galleries contracting even as trophies soar. The same top-versus-broad split we track across luxury. More this week on Art Market.
A Handbag World Record in Paris
- Christie's "Handbags Online: The Paris Edit" set a new world record for an online handbag sale, totaling 5.8 million euros, with 98 percent of lots sold and 83 percent selling above their high estimates, drawing bidders from 47 countries.
- Near-total sell-through with most lots beating estimates: demand at the top of the handbag market is fierce, the same story the trophy painting is telling in London.
Luxury Turns a Corner, as the Everyday Shopper Tires
- A new Business of Fashion study with McKinsey finds luxury gradually returning to growth after a long slowdown, led by the United States and China, the most constructive read on the broad market in some time.
- But the recovery is uneven. The same morning, Lindt is heading for its worst quarter in 17 years as ordinary consumers tire of higher prices. The top sets records; the everyday shopper is fatigued. Luxury is recovering from the top down.
Quick Hits
- Hermès opened a new maison on London's Bond Street.
- LVMH, through Orient Express, launched its first luxury yacht, courting a new class of tech billionaires.
By the Numbers
- London summer season: around 560 million dollars across the big three, up roughly 300 percent year on year. Lewis Collection evening: 392.6 million dollars (Europe's most valuable single-owner sale); top lot Modigliani Nu assis au collier at about 63.9 million dollars; Magritte La Belle Promenade 21.2 million. Zabludowicz: 15.4 million pounds, led by Guston's Mirror Head at 3.9 million pounds.
- Christie's Paris handbag sale: 5.8 million euros, world record for an online handbag sale; 98 percent sold; 83 percent above high estimate; 47 countries.
The Markets (Monday open)
- A calmer open after the US and Iran agreed to halt attacks ahead of talks. Oil back toward 72 dollars, gold easing, the dollar firmer.
- European luxury opened mostly higher: Burberry the standout, up about 2.5 percent; Brunello Cucinelli up more than 1 percent; Hermès and Richemont near flat; LVMH and Kering each down a fraction. Full read tonight on Closing Price.
Also from ALT/FNDATA:
- Closing Price — this evening at 5 PM ET (the day's signals)
- Open Bid returns tomorrow at 6 AM ET
London's art market posts its biggest summer auction haul in a decade; Christie's sets a world record for an online handbag sale in Paris; luxury starts to turn a corner, led by the US and China, even as the everyday shopper tires of higher prices; plus a calmer open to the week after the US and Iran agreed to halt attacks.
ALT/FNDATA
- Membership (Use PODCAST15 for 15% off): https://altfndata.com/go/ob-260629
- Market reports: https://altfndata.com/go/ob-260629-r
- Podcast episodes: https://altfndata.com/go/ob-260629-p
London's Art Market Beats the Brexit Blues
- London's summer auctions across the big three houses brought in around 560 million dollars, up roughly 300 percent on a year ago: the city's biggest haul in a decade, after ten years of post-Brexit drift.
- Sotheby's led with the Joe Lewis Collection, a 392.6 million dollar evening sale and the most valuable single-owner collection ever sold in Europe. Top lot: Modigliani's 1917 nude Nu assis au collier at about 63.9 million dollars (the season's highest). A René Magritte gouache, La Belle Promenade, made 21.2 million, up more than sevenfold since 2014.
- Christie's sold the Zabludowicz collection for 15.4 million pounds, led by Philip Guston's Mirror Head (3.9 million pounds), a Richard Prince Cowboy (1.5 million), and a Rose Wylie artist record (292,000 pounds). Phillips added 11.9 million pounds across 90 lots.
- The caveat: The Art Newspaper cautions that one strong season won't transform a market still below its decade-ago peaks, with galleries contracting even as trophies soar. The same top-versus-broad split we track across luxury. More this week on Art Market.
A Handbag World Record in Paris
- Christie's "Handbags Online: The Paris Edit" set a new world record for an online handbag sale, totaling 5.8 million euros, with 98 percent of lots sold and 83 percent selling above their high estimates, drawing bidders from 47 countries.
- Near-total sell-through with most lots beating estimates: demand at the top of the handbag market is fierce, the same story the trophy painting is telling in London.
Luxury Turns a Corner, as the Everyday Shopper Tires
- A new Business of Fashion study with McKinsey finds luxury gradually returning to growth after a long slowdown, led by the United States and China, the most constructive read on the broad market in some time.
- But the recovery is uneven. The same morning, Lindt is heading for its worst quarter in 17 years as ordinary consumers tire of higher prices. The top sets records; the everyday shopper is fatigued. Luxury is recovering from the top down.
Quick Hits
- Hermès opened a new maison on London's Bond Street.
- LVMH, through Orient Express, launched its first luxury yacht, courting a new class of tech billionaires.
By the Numbers
- London summer season: around 560 million dollars across the big three, up roughly 300 percent year on year. Lewis Collection evening: 392.6 million dollars (Europe's most valuable single-owner sale); top lot Modigliani Nu assis au collier at about 63.9 million dollars; Magritte La Belle Promenade 21.2 million. Zabludowicz: 15.4 million pounds, led by Guston's Mirror Head at 3.9 million pounds.
- Christie's Paris handbag sale: 5.8 million euros, world record for an online handbag sale; 98 percent sold; 83 percent above high estimate; 47 countries.
The Markets (Monday open)
- A calmer open after the US and Iran agreed to halt attacks ahead of talks. Oil back toward 72 dollars, gold easing, the dollar firmer.
- European luxury opened mostly higher: Burberry the standout, up about 2.5 percent; Brunello Cucinelli up more than 1 percent; Hermès and Richemont near flat; LVMH and Kering each down a fraction. Full read tonight on Closing Price.
Also from ALT/FNDATA:
- Closing Price — this evening at 5 PM ET (the day's signals)
- Open Bid returns tomorrow at 6 AM ET
Creators and Guests
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 — Monday, June 29, 2026
[INTRO]
Good morning. It's Monday, June 29. I'm Sharon, and this is Open Bid from ALT/FNDATA.
On today’s show, we cover London's best summer of art sales in a decade, a record-setting handbag sale in Paris, and the first real signs that luxury is turning a corner, even as the everyday shoppers get tired of higher prices. Plus we have a calmer market open to the week, after the US and Iran stepped back from confrontation over the weekend. And Closing Price wraps the day tonight.
This episode of Open Bid is brought to you by ALT/FNDATA, the market intelligence platform for insights on the luxury markets and related public equities. With a membership, you can unlock access to dashboards, reports and cutting-edge insights to keep your finger on the pulse of the market and drive your competitive advantage. Learn more at altfndata.com/membership.
[LONDON'S ART MARKET, BEATING THE BREXIT BLUES]
We begin in London, where the art market has just had its best summer in a decade. After ten years of what the trade has called the Brexit blues, this week's sales across the big three auction houses brought in around 560 million dollars, up roughly 300 percent on a year ago. Confidence has returned to the top of the art market.
The crown belonged to Sotheby's and the collection of the late British billionaire Joe Lewis. The Lewis Collection evening sale made 392.6 million dollars, comfortably ahead of its presale estimate, the most valuable single-owner collection ever sold in Europe. Leading it was Modigliani's 1917 seated nude, “Nu assis au collier”, which sold for around 63.9 million dollars, the top lot of the entire season. Lewis had bought it for 12.4 million dollars back in 1995. A René Magritte gouache, La Belle Promenade, brought 21.2 million dollars, more than seven times what it fetched just over a decade ago.
Christie's followed with the collection of Anita and Poju Zabludowicz, which sold for 15.4 million pounds, within estimate. It was led by Philip Guston's Mirror Head, a 1977 portrait of his wife, which sold for 3.9 million pounds, followed by a Richard Prince Cowboy at 1.5 million, and a new artist record for Rose Wylie, whose Sailing Boat made 292,000 pounds. Phillips rounded out the week with 11.9 million pounds across 90 lots.
With two major single-owner collections selling through London's rooms in a matter of weeks, the market, written off for the better part of a decade, is open again.
[A HANDBAG WORLD RECORD IN PARIS]
In Paris, Christie's has just set a new world record for an online handbag sale. Its Handbags Online, the Paris Edit, totaled 5.8 million euros, with 98 percent of lots sold and 83 percent of them selling above their high estimates, drawing bidders from 47 countries. With a near-total sell-through, and most lots beating their estimates, the market appears to demonstrate that demand remains at the very top of the handbag world. The trophy Birkin and Kelly are doing in the saleroom exactly what the trophy painting is doing in London.
[LUXURY TURNS A CORNER, AS THE EVERYDAY SHOPPER TIRES]
In a new study with McKinsey, the Business of Fashion reports that after a long slowdown, luxury is gradually returning to growth, led by the United States and China. This offers one the most constructive read on the broad market we have heard in some time. But the recovery is not even. On the very same morning, Lindt and Sprüngli, the Swiss chocolate maker listed near 9,500 francs a share, is heading for its worst quarter in 17 years, as ordinary consumers finally tire of paying ever-higher prices. When you put those two together and you have the split we are monitoring in the markets. The top of the market is setting records while everyday shoppers are fatigued. Luxury appears to be recovering from the top down, not the bottom up.
[OUTRO]
That's it on Open Bid for today, Monday, June 29. Closing Price covers the day's signals this evening.
For insights on the data behind today's stories, the ALT/FNDATA membership gives you access to a rich library of market data dashboards, reports and insights. Get started at altfndata.com/membership or reach us anytime at info@altfndata.com.
Subscribe to get notified of new episodes, and if you love the show, please leave us a five-star rating on Spotify or Apple Podcasts.
I'm Sharon, from ALT/FNDATA. I'll talk with you in the next episode.