Christie's $850M Auctions to Proceed Despite Cyberattack

Welcome to the 37th edition of Maximalist! Dive into the ultimate guide, filled with insider insights into the world of fashion, art, real estate, travel, jewelry, and horology.

The world of luxury is never boring, and this week is no exception. Let’s dive in!

Markets

On this week’s agenda:

1. Christie's $850M Auctions to Proceed Despite Cyberattack

2. Only Watch 2024 Closes at $31M

3. Sabato De Sarno's London-Inspired Debut for Gucci Cruise 2025

4. Ferrari Unveils the 12Cilindri

5. 2024: Best Hotels in the South of France

6. Jannik Sinner’s “Is a Feeling” Gucci Campaign

Christie's $850M Auctions to Proceed Despite Cyberattack

Christie's, a prominent auction house, confirmed its upcoming $850 million auctions will continue as scheduled despite a cyberattack that compromised its website. The attack occurred just before New York's vital spring art sales, a key period expected to generate significant revenue for Christie's. The website malfunction has left some bidders potentially unable to participate online, but the auctions will still take place in person and via phone.

The nature of the cyber incident remains unclear, with Christie's describing it as a "technology security issue." This isn't the first cybersecurity problem for Christie's; last summer, a breach reportedly exposed the locations of artworks owned by some of the world's top collectors.

The upcoming sales include highly valuable pieces, such as Andy Warhol’s 1964 silk-screen painting "Flowers," which could fetch up to $30 million. Despite the cyber threat, the physical auctions are set to proceed, reflecting the resilience of the art market, particularly among high-end buyers who often prefer in-person bidding through advisors or direct phone calls.

The breach is a potential embarrassment for Christie's owners, the Pinault family, who also oversee the fashion conglomerate Kering. This incident comes at a challenging time, as Kering has recently faced significant financial downturns.

Looking ahead, over 1,700 modern and contemporary artworks are expected to be auctioned between Christie's, Sotheby's, and Phillips, totaling an estimated $1.2 billion to $1.8 billion in value. This marks a decline from previous years, where 2022 saw a record $2.8 billion in sales during the same period. The art market is adjusting, with prices falling and sellers waiting for a rebound in demand.

Despite these challenges, there is a positive trend, as works by female artists have seen a notable increase in sales, signaling a shift towards greater recognition and valuation of their contributions to the art world.

Only Watch 2024 Closes at $31M

The Only Watch Auction, a significant charitable event in the horology community, took place today in Geneva, marking its 10th edition. Despite recent controversies surrounding the financial practices of the Association Monégasque Contre les Myopathies (AMM), the auction successfully raised CHF 28,320,000 (approximately $31,200,000). This figure aligns closely with the proceeds from the last auction in 2021, which amassed CHF 30 million.

The event was initially scheduled for November 2023 but was postponed after a social media backlash questioned the financial integrity of the AMM. In response, AMM underwent a thorough audit by Christian Boisson from Grant Thornton, which affirmed the accuracy and fairness of its financial statements over the past three years.

Luc Pettavino, who founded Only Watch in 2005 following his son Paul's diagnosis with Duchenne Muscular Dystrophy (DMD), has seen the auction raise a cumulative total of CHF 128 million (about $141 million) over its ten editions. These funds are dedicated to supporting research and finding a cure for DMD.

This year's auction featured 47 unique timepieces, with the top sale being the Patek Philippe 6301A Steel Sonnerie Minute Repeater, which fetched $17.3 million. Other notable sales included Rexhep Rexhepi’s steel Chronometre Antimagnétique at $2.3 million and a Richard Mille watch pendant at $2.6 million.

Christie’s did not take a buyer's premium and attracted over 500 attendees, including collectors, brands, journalists, and influencers. The event was live-streamed globally, highlighting the auction’s continued appeal and significance in the watchmaking community.

Sabato De Sarno's London-Inspired Debut for Gucci Cruise 2025

Sabato De Sarno's initial venture into the Cruise collection for Gucci, showcased in London, carries the weight of expectations during a challenging period for its parent company, Kering. Kering has recently faced a significant downturn, with a reported 11% drop in revenue in 2024 and a forecast of up to a 45% decrease in operating income for the first half of the year. Gucci itself saw a 21% decline in the first quarter, primarily due to reduced sales in the Asia-Pacific region.

Despite these financial hurdles, De Sarno's early work, which only started appearing in stores in February, marks a distinct shift from the ornate designs of his predecessor, Alessandro Michele. His approach is noticeably more minimal and accessible. The Gucci Cruise 2025 collection, De Sarno's fourth show for Gucci and his third womenswear presentation, aims to redefine romanticism through his perspective. The collection was inspired by London, a city that has significantly influenced De Sarno throughout his career. He admires the city's dynamic fusion of contrasting elements and its vibrant cultural exchanges.

During an interview with The Guardian, De Sarno cited a 1991 Princess Diana outfit as an illustration of London's unique style—her combination of an oversized varsity jacket with a pencil skirt symbolized the kind of contradictory but harmonious blend he seeks to emulate. Unlike other designers who may take more literal inspiration from their show locations, De Sarno's work focuses on capturing a metropolitan essence through his designs. This was evident in the latest show held at Tate Modern's Blavatnik Building, where models showcased the juxtaposition of styles—like gauzy blouses paired with boxy jackets and form-fitting dresses complemented by large accessories—all blending disparate textures and silhouettes.

Gucci's new footwear direction under De Sarno veers away from towering platforms, favoring more practical flats and loafers, reflecting a shift similar to past trends seen at Valentino, De Sarno's former workplace. The collection's details—embossed jackets, embroidered sheer skirts, and beaded accents—only fully appreciated up close, represent De Sarno's vision of accessible luxury. The show concluded with a display of eclectic color combinations, embodying the playful and romantic spirit De Sarno aims to capture in his reinterpretation of Gucci's aesthetic.

Ferrari Unveils the 12Cilindri

Ferrari has launched its latest marvel, the 12Cilindri, also known as "Dodici Cilindri." This new model, a two-seater berlinetta, is powered by a naturally aspirated V12 engine that's mounted mid-front, producing an impressive 830 horsepower and reaching up to 9500 rpm. With 80% of its torque available from just 2500 rpm, the 12Cilindri promises exceptional responsiveness and thrilling acceleration.

The design of the 12Cilindri draws inspiration from the iconic Ferrari Gran Turismo cars of the 1950s and 1960s, blending the elegance and sportiness of those classics with the advanced technology of today. Features like an active aerodynamic device and a striking front-hinged hood enhance its performance and visual appeal.

Aesthetically, the 12Cilindri features smooth, harmonious lines and a sculptural quality that reflects both sportiness and sophistication. The interior is equally luxurious, with a glass roof and high-quality materials that create a spacious and opulent environment. The cockpit is designed for comfort, making it suitable for long drives without sacrificing the exhilarating driving experience Ferrari is known for.

This latest addition not only continues Ferrari's storied V12 legacy, which began in 1947, but also modernizes it. A spyder version of the 12Cilindri is also in the pipeline, catering to those who prefer the open-air driving experience. Details on pricing and availability for both the coupe and spyder versions will be announced later.

2024: Best Hotels in the South of France

The South of France, a region synonymous with luxury and stunning landscapes, offers a plethora of accommodation options to suit every taste, from historic villas to glamorous beachfront properties. Here’s a guide to some of the top hotels, both well-known and discreet, that promise an unforgettable stay along the picturesque Mediterranean coastline.

1. Hôtel du Couvent
Set in a restored convent, this hotel in Nice boasts a sprawling garden and a Roman bath-inspired spa. The hotel’s historic charm is complemented by modern luxuries, making it a peaceful oasis in the bustling city. The hotel is scheduled to open in June 2024 after a decade of meticulous renovations. Book Now

2. Château de Théoule
Overlooking the Bay of Cannes, this boutique hotel is housed in a beautifully restored castle. It offers luxurious amenities, including a private beach and an Art Deco ambiance that transports guests back to a more glamorous era. Book Now

3. Hotel du Cap-Eden-Roc
A symbol of French Riviera luxury, this iconic hotel offers exquisite dining options, a new Dior spa, and historically rich accommodations that inspired F. Scott Fitzgerald. Book Now

4. Pan Deï Palais, Saint-Tropez
In the heart of Saint-Tropez, this intimate hotel is steeped in history yet offers all the modern comforts, including a private beach and a pool set in a serene garden. Book Now

5. Cap d’Antibes Beach Hotel
This vibrant hotel is known for its stylish beach club and Michelin-starred dining. Its location between Cannes and Nice makes it a perfect spot for exploring the Riviera. Book Now

6. Hôtel Amour Nice
For a laid-back Riviera experience, this hotel combines quirky decor with a friendly atmosphere, just steps away from the beach. Book Now

7. Château de la Messardière
A 19th-century chateau offering panoramic views of Saint-Tropez Bay and luxurious amenities including multiple pools and a spa. Book Now

8. Tuba Club
Perched on a cliff in Marseille, this boutique hotel offers a unique stay with its eclectic rooms and a restaurant that boasts breathtaking sea views. Book Now

9. Hôtel Les Roches Blanches
Located on limestone cliffs, this hotel offers a luxurious gateway with a direct sea access, pool deck, and a nod to its glamorous past. Book Now

10. Grand-Hotel du Cap-Ferrat
Managed by Four Seasons, this legendary hotel provides timeless elegance with luxurious dining, a famous pool, and access to Paloma Beach. Book Now

11. Hôtel Lou Pinet
This family-friendly hotel in Saint-Tropez offers a quiet retreat with its pool and restaurant, encapsulating the spirit of the French Riviera. Book Now

12. Hôtel le Sud
A charming and affordable option in Antibes with a playful design and a cozy atmosphere, perfect for budget-conscious travelers. Book Now

13. Hôtel Lily of the Valley
For those seeking wellness, this hotel offers customized health and wellness programs in a luxurious setting overlooking the sea. Book Now

14. Hôtel La Ponche
This boutique hotel offers a more intimate experience in Saint-Tropez, with stunning views and a welcoming Provençal restaurant. Book Now

15. La Réserve Ramatuelle
A serene hideaway offering expansive suites, a spa, and a private beach club, perfect for those looking to escape the bustle of nearby St. Tropez. Book Now

Each of these properties offers a unique experience, whether you're looking for historical elegance, modern luxury, or a cozy boutique feel. With such diverse offerings, the South of France ensures every luxury-obsessed traveler will have a perfect stay.

Jannik Sinner’s “Is a Feeling” Gucci Campaign

As the tennis season kicks into full gear, the synergy between high fashion and athletic performance is becoming more pronounced. Gucci, a brand known for its innovative and rule-breaking designs, has showcased this blend by enlisting Italian tennis prodigy Jannik Sinner for its "Is a Feeling" campaign. Sinner, who is currently the highest-ranked Italian player in history, is celebrated not only for his exceptional skills on the court but also for his daring fashion choices.

Last year, Sinner made a bold statement at Wimbledon by introducing a non-traditional element to his tennis attire—a custom monogrammed Gucci duffle bag. This move broke the tournament's longstanding tradition of all-white dress codes and positioned Sinner at the forefront of a fashion rebellion within the sport. His Gucci bag, featuring the house's iconic red and green colors, added a vibrant pop against the stark whites of traditional tennis gear, drawing attention both on and off the court.

The "Is a Feeling" campaign, inspired by the flamboyant and expressive styles of the 1980s, vividly captures Sinner during intense training sessions and high-stakes matches at various tennis tournaments. Photographer Riccardo Raspa highlights the athlete's dynamic movements and the standout style of his Gucci accessories, including the famed duffle bag that hangs from his shoulder, seamlessly integrating with his sporty yet sophisticated look.

This campaign not only underscores Gucci's commitment to blending luxury with sport but also celebrates individuality and style in a sport often characterized by uniformity. As Sinner continues to challenge the norms of tennis fashion, Gucci's campaign is a testament to the evolving relationship between athletic excellence and high-end fashion aesthetics, proving that style on the tennis courts is as compelling as the sport itself.

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