The decision follows a backlash from Jewish organizations after the auction house generated $202 million in a spring sale from the jewelry collection of Heidi Horten.
Chinese contemporary artist Yue Minjun is launching an NFT collection based on his Laughing Man alter ego with the NFT market crashing. But he says they have long-term value, and a collector backs fine-art NFTs.
Christie’s spring auctions, its first major auctions in Hong Kong since the pandemic ended, attracted Chinese and Southeast Asian buyers, but sales were subdued, and many of the lots had low hammer prices.
Amid high inflation and low inventory, the art market correction appears to have landed. If it wasn’t a trophy, it probably struggled to command a high price.