Quick update on the auction of Collection YSL/PB

So, were you one of the people who queued for several hours just to get a glimpse into the marvellous art collection of YSL/PB? I certainly didn’t, and instead spent my time browsing the catalogue online.

The first of the auction sessions started today, at 7pm in the evening, in Paris. The organisation of the auction is unprecedented, with seatings prepared to accommodate over 1000 buyers, with additional 100 telephone lines for off-site bidding. My my, if only I live in a world of richesse to afford them. There were some seriously handsome pieces of Matisse, Gris, Vuillard and Leger on the block.

The entire collection is expected to fetch up to €300 million but the punters are obviously willing to shell out more, despite the difficult economic time. The sale from the first session alone has so far amassed in a whopping €206 million (check out what was sold at which price)!

While many pieces are obviously sold at higher bids than expected, the star piece of the first session – Picasso’s “Instruments de Musique sur un GuĂ©ridon” – failed to reach the minimum price of €30 million and instead attracted a highest bid of only €21 million.

In case you wonder where all the money from the sales is going to go to, the proceeds will be used to help create a new foundation for Aids research.

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