Patek Philippe Ref. 1518 Stars at Christie’s Hong Auction

Welcome to the 61st 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!

On this week’s agenda:

1. Patek Philippe Ref. 1518 Stars at Christie’s Hong Auction

2. SCOPE Returns to Miami

3. 1957 Jaguar XKSS to Fetch $14.5M USD

4. Estée Lauder Appoints Stéphane de La Faverie as President and CEO

5. Sotheby’s to Auction 31 of Keith Haring’s ‘Subway Drawings’

Markets

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Patek Philippe Ref. 1518 Stars at Christie’s Hong Auction

Christie's Hong Kong recently hosted the "Important Watches: Featuring 'The Collectibles' Part 2" auction, culminating in a remarkable total of $191,847,860 HKD (approximately $24,688,872 USD). With 270 lots offered, the auction boasted a near perfect sell-through rate.

Leading the auction was a Patek Philippe Ref. 1518 in 18k rose gold, a perpetual calendar chronograph with French calendar and moon phases. This watch, unique for its "FAB. SUISSE" signature, sold for $19,130,000 HKD ($2,472,390 USD), far surpassing its $16 million HKD estimate (around $2,059,358 USD).

Additional highlights included an 18k pink gold and diamond-set Patek Philippe Ref. 5980 and Ref. 5074 "Cathedral" minute repeating perpetual calendar wristwatch, each fetching $6.3 million HKD ($814,221 USD).

A standout piece, the Richard Mille RM 018 tourbillon with lapis lazuli wheels, soared past expectations to close at $11,991,000 HKD ($1,543,033 USD). The auction also witnessed record-breaking sales such as a rare platinum F.P. Journe Octa Chronographe, which sold for $4,410,000 HKD ($567,490 USD).

A special section titled “A Platinum Odyssey” featured 72 lots of platinum timepieces. Notable sales included a Greubel Forsey ‘Invention Piece 2’ at $3,276,000 HKD ($423,395 USD), and a platinum limited-edition Cartier Tank à guichet for $1,386,000 HKD ($179,129 USD), almost sevenfold its pre-sale estimate.

SCOPE Returns to Miami

SCOPE Art Show is celebrated for its innovative approach that diverges from typical contemporary art fairs. Positioned on the sands of Miami Beach, it offers emerging artists and galleries a vital platform to present their work to key figures in the art world, from collectors to the art-curious public, infusing the art scene with fresh perspectives and vibrancy for the past 24 years.

Alexis Hubshman, founder of SCOPE, shared, "Throughout its history, SCOPE has been a unique platform for emerging art and artists, and we have always remained true to our mission as an incubator for contemporary art.” He emphasized the variety of their programming that includes art, design, music, technology, wellness, and hospitality.

Starting in the 1990s, Hubshman arrived in New York, armed with an art degree from Bard College and architecture studies from Glasgow School of Art. Recognizing the limited opportunities for new artists in conventional galleries, he opened RARE gallery in the Meatpacking District, which soon became a launchpad for undiscovered talent.

In 2001, SCOPE debuted in New York at the Gershwin Hotel, now known as The Evelyn, featuring 28 galleries. The event coincided with Art Basel’s first Miami Beach fair, establishing SCOPE as a concurrent fixture.

The show has grown significantly, now hosting yearly events in Miami Beach. SCOPE continues to captivate a broad audience, reflecting its commitment to innovation and discovery in contemporary art.

Highlighting milestones, the show saw over 100,000 attendees in 2023. A notable moment was in 2014 when Kasseem Dean, aka Swizz Beatz, curated a well-received exhibition. Dean, along with Alicia Keys, actively supports underrepresented artists through The Dean Collection, which showcased its first major museum exhibition earlier this year.

Further supporting emerging artists, the Pérez Art Museum Miami introduced the Acquisition Prize at the 2023 fair, sponsored by Hubshman, with the inaugural award going to Deborah Jack’s work from Pen + Brush Gallery.

Hubshman added, “SCOPE sets itself apart by evolving to support and showcase new talent, bringing unique experiences to our audience.”

The next SCOPE Miami Beach is scheduled for December 3-8, 2024, with tickets available for purchase online.

1957 Jaguar XKSS to Fetch $14.5M USD

RM Sotheby's is set to auction an exceptionally rare 1957 Jaguar XKSS, marking the first time such a vehicle has been offered at auction in Europe. This vehicle is not only a piece of automotive history but also one of the most desirable Jaguar models, embodying the essence of Jaguar's D-Type racing pedigree.

The vehicle up for auction, chassis XKD 540, is originally a "Short Nose" D-Type that was transformed into an XKSS model in 1958 at Jaguar's factory. This conversion, commissioned by then-owner and noted hill climber Phil Scragg, included significant enhancements such as a full-height windshield, a passenger door, and a more powerful 3.8L engine replacing the original 3.4L.

XKD 540 has a rich racing lineage, debuting in the UK and later competing in Australia under owners Laurie O’Neill and Colin Hyams, a distinguished racer. The car's provenance includes participation in prestigious events such as the Mille Miglia Storica, adding to its allure.

Preserved and serviced by renowned Jaguar experts like Pearsons Engineering and CKL Developments, the XKSS maintains much of its originality, including the matching-numbers monocoque chassis and front sub-frame. It also comes with a collection of spare parts ranging from headlights to wheels, which enhances its value.

The auction, scheduled for November 2, 2024, as part of RM Sotheby’s London sale, sees the XKSS with an estimated price tag of up to $14,500,000 USD. To witness the XKSS in motion, check out the video reel featuring Chris Harris driving it through the streets of London.

Rolls-Royce

Estée Lauder Appoints Stéphane de La Faverie as President and CEO

The Estée Lauder Companies Inc. (NYSE: EL) has announced the appointment of Stéphane de La Faverie as its new President and Chief Executive Officer, effective January 1, 2025. He will also join the Board of Directors. De La Faverie will succeed Fabrizio Freda, who is retiring after over sixteen years with the company. Freda will assist de La Faverie to ensure a smooth transition. Upon assuming his new role, de La Faverie will report directly to the Board of Directors. Additionally, William P. Lauder will step down as Executive Chairman but will continue as Chair of the Board following the company's upcoming Annual Meeting of Stockholders.

William P. Lauder commented on the appointment, "Stéphane’s deep industry knowledge and dynamic approach make him exceptionally well-suited to lead our company forward. His ability to nurture and build prestigious brands, while respecting our heritage and culture, prepares him to drive our long-term growth amidst current challenges."

Charlene Barshefsky, Presiding Director of the Board, stated, “After a thorough review of internal and external candidates, Stéphane was the unanimous choice of the Board, thanks to his strategic vision and deep understanding of our company’s challenges and opportunities.”

Stéphane de La Faverie brings over 25 years of experience in prestige beauty to his new role. Since joining the company in 2011, he has held significant leadership positions and most recently served as Executive Group President. De La Faverie has been pivotal in enhancing the company’s fragrance portfolio and has played a crucial role in the company’s Profit Recovery and Growth Plan.

Reflecting on his new role, de La Faverie expressed, “I am deeply honored to lead The Estée Lauder Companies. As we aim to return to our leading position in global prestige beauty, we will leverage our extraordinary brands, talent, and creativity. I am committed to revitalizing our growth with innovative and inspiring consumer experiences."

Fabrizio Freda praised de La Faverie's leadership, saying, “Stéphane’s visionary approach and commitment to excellence have been integral to our success. His strategic insights and strong leadership abilities will undoubtedly guide the future success of our company’s diverse portfolio.”

The Estée Lauder Companies, a global leader in prestige beauty, markets its products in over 150 countries with a portfolio that includes many of the world's most recognized skin care, makeup, fragrance, and hair care brands.

Sotheby’s to Auction 31 of Keith Haring’s ‘Subway Drawings’

Sotheby's is set to auction a significant collection from Larry Warsh, the founder of No More Rulers. The offering is part of the Contemporary Art Day Auction in New York and features 31 of Keith Haring's iconic Subway Drawings. These works, created between 1980 and 1985, represent Haring's unique contribution to the art world and will be available for purchase for the first time, with an expected combined value of $6.3 to $9 million USD.

Keith Haring, renowned for his influence on the Pop art movement, sought to make his art accessible, choosing the bustling subway systems of New York as his canvas over traditional mediums. In the early 1980s, he began to embellish subway advertisements with his dynamic imagery, effectively turning daily commutes into vibrant, artistic experiences. Haring recalled, "I remember noticing a panel in the Times Square station and immediately going aboveground and buying chalk. After the first drawing, things just fell into place."

Haring's art blurred the lines between graffiti, comics, and fine art, challenging conventional art norms with a visual language that was both engaging and understandable, featuring motifs like radiant babies, dancing figures, and flying saucers. Ashkan Baghestani, Head of Sotheby’s Contemporary Art Day Auction, remarked, “Keith Haring’s subway drawings are his ultimate, years-long love letters to New York City. Drawing dozens of works almost daily, Haring’s legacy unfolded in front of millions, as he transformed the everyday experience into the extraordinary."

These drawings were last displayed collectively at the "Keith Haring: 1978-1982" exhibition at the Brooklyn Museum. The upcoming auction, titled Art in Transit: 31 Keith Haring Subway Drawings from the Collection of Larry Warsh, will be previewed at Sotheby’s New York before the sale on November 21.

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