Operation Cariatide Bust: Picasso, Warhol, Dalí Fakes

Welcome to the 63rd 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!

In Case You Missed it…

1. Loro Piana Launches Harrods Display

2. Can Miu Miu Sustain Growth?

3. Christie’s Aga Khan Emerald

4. Matthieu Blazy Top Contender as Chanel’s Creative Director

5. Latest Gaultier Auction

Markets

On this week’s agenda:

1. Phillips Geneva Watch Auction: XX Results

2. Operation Cariatide Bust: Picasso, Warhol, Dalí Fakes

3. Audemars Piguet to Collaborate with KAWS

4. 1001 The 1001 Seasons of Elie Saab

5. Mercedes AMG to Launch First High-Performance SUV

Phillips Geneva Watch Auction: XX Results

Phillips recently achieved a remarkable feat in the watch auction industry, securing the second-highest sale total ever recorded with a cumulative amount of $57,915,758 USD. This impressive sum came from two specific auctions: the Geneva Watch Auction: XX and Reloaded: The Rebirth of Mechanical Watchmaking 1980-1999.

A standout moment from the auctions was the sale of the F.P. Journe Tourbillon Souverain à Remontoir d’égalité 15/93, which fetched a staggering 7.3 million CHF (approximately $8.4 million USD). This sale not only surpassed its initial pre-sale estimate of $2.4 million USD by over three times but also set a new record as the priciest watch sold by an independent watchmaker at any auction.

Another highlight from the Reloaded auction was the sale of Rolex’s first-ever Rainbow Daytona, which achieved an impressive final price of 5.5 million CHF (about $6.2 million USD), far exceeding its estimated value. Additionally, Derek Pratt's unique Oval Pocket watch significantly outperformed its estimated value, selling for 3.7 million CHF (roughly $4.2 million USD).

During the Geneva Watch Auction: XX, the Rolex Daytona featuring a “Paul Newman Lemon” dial emerged as the top lot, eventually selling for 2.5 million USD (around $2.8 million USD). Moreover, a unique and historically significant Akrivia reference set a new auction world record for the brand, closing at 1 million CHF (approximately $1.2 million USD).

Operation Cariatide Bust: Picasso, Warhol, Dalí Fakes

Italian authorities recently dismantled a massive art forgery network, seizing over 2,100 counterfeit artworks valued at approximately $212 million USD. The operation, dubbed "Operation Cariatide," has led to 38 individuals being investigated for forgery, handling stolen goods, and illegal art sales. The artworks imitated the styles of renowned artists like Pablo Picasso, Andy Warhol, Salvador Dalí, and Banksy.

The investigation commenced in March 2023 following the seizure of 200 counterfeit pieces from a businessman in Pisa, including a fake Modigliani caryatid. Further scrutiny into suspicious online auctions exposed the extensive forgery operation spanning across six workshops—two in Tuscany, one in Venice, and three abroad. These workshops served as both creation and storage points for the fakes before they were distributed to complicit auction houses.

Notably, the counterfeiters staged two exhibitions featuring forged Banksy works in prestigious locations near Venice and Tuscany to lend credibility to their fakes. These events occurred shortly before the authorities' crackdown. The operation has been hailed by Teresa Angela Camelio, the chief prosecutor, and experts from the Banksy archive as "the biggest act of protection of Banksy’s work."

Many of the confiscated forgeries are currently on display at the Palazzo Toscanelli in Pisa until November 15, 2024. This exhibit offers the public an insight into the extent of the forgery operations and exposes the lesser-seen world of art counterfeiting.

Audemars Piguet to Collaborate with KAWS

Audemars Piguet has recently sparked excitement by hinting at a new collaboration with artist Brian Donnelly, known as KAWS, on Instagram. Although specific details are sparse, it’s clear that KAWS' notable "Companion" character will play a significant role in the upcoming joint venture.

In a captivating video teaser, a silhouette is seen donning a craftsman's apron adorned with the Audemars Piguet logo and peering through a foggy glass divider. On the other side of the glass, a grey KAWS Companion character mirrors the figure, placing its hands against the glass. The video concludes with the display of the official logos of both Audemars Piguet and KAWS, accompanied by the caption "APxKAWS. Stay tuned," confirming the official nature of the collaboration.

While it remains uncertain which watch model will be involved, there is speculation that the collaboration could extend beyond a single timepiece, potentially including an apparel capsule. This conjecture is based on the pattern of previous collaborations, and it’s anticipated that the iconic Royal Oak model might be featured.

For additional information and updates, enthusiasts are encouraged to follow Audemars Piguet’s official channels.

1001 The 1001 Seasons of Elie Saab

Elie Saab marked the 45th anniversary of his brand with a grand celebration titled "zxxcc," held in Riyadh, Saudi Arabia. The event was a vibrant mix of fashion, art, and entertainment, drawing celebrities and performers to the annual Riyadh Season.

The evening featured a fashion show with over 300 looks by Saab, highlighted by Halle Berry's memorable walk in her iconic red 2002 Oscars dress. This piece marked a historic moment as it was worn by Berry when she became the first Black woman to win the Oscar for Best Actress.

Performances by notable artists like Celine Dion, Jennifer Lopez, Camila Cabello, Lebanese singer Nancy Ajram, and Egyptian musician Amr Diab added a festival-like atmosphere to the event, akin to a mini-Coachella. The artistic direction by Blanca Li ensured that the performances were as extravagant as the fashion displayed.

Among the attendees were high-profile figures such as Carine Roitfeld, Monica Bellucci, Rosie Huntington-Whiteley, and many more, contributing to the event's star-studded allure.

Elie Saab described the event as a culmination of decades of fashion that drew from the rich essence of Arab culture, marked by intellectual and creative peaks. He expressed gratitude for the journey so far and the future of his brand, aiming to blend beauty, peace, and love in his creations.

"The 1001 Seasons of Elie Saab" was part of the Riyadh Season, a cultural and entertainment initiative started in 2019 by the General Entertainment Authority under Saudi Vision 2030, aimed at boosting tourism and showcasing Saudi Arabia's commitment to cultural development.

Mercedes AMG to Launch First High-Performance SUV

Mercedes-AMG has made a groundbreaking announcement, revealing the development of its first-ever standalone high-performance SUV. This move marks a significant milestone, as it's the first time in the company's 57-year history that an SUV has been developed entirely in-house. Furthermore, this vehicle represents the second model to utilize the innovative AMG.EA electric platform.

With a history stretching back over 25 years in the high-performance SUV market, AMG has built a solid reputation starting with the introduction of the ML 55 AMG. This model set the stage for AMG's success in the SUV segment, leading to a diverse lineup that now includes six models, ranging from the compact GLA to the full-sized GLS, with the Mercedes-AMG G 63 being a particularly iconic figure in luxury performance off-roading.

The upcoming SUV will be fully developed by AMG's team of engineers and designers, making it a genuine product of AMG's rich legacy of performance vehicles such as the GT, SL, and SLS. Michael Schiebe, Chairman of Mercedes-AMG GmbH and Head of Mercedes-Benz G-Class & Mercedes-Maybach divisions, emphasized the SUV's alignment with current market trends and AMG's dedication to performance and innovation. He stated, "With the 'Born in Affalterbach' SUV, we are responding to this trend by offering our customers a truly captivating high-performance off-roader based on the AMG.EA platform. Our new high-performance architecture follows a clear philosophy: 'AMG First, EV Second', ensuring the vehicle excels as an electric vehicle while embodying AMG's signature attributes of emotion and performance."

Details on the SUV's performance metrics or visuals have not yet been released, but updates are expected to be made available soon through official Mercedes-AMG channels.

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