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Thursday, December 14, 2017

Saint Laurent Record Challenged by Castle's $82 Million Clear-Out Auction

A 1920s black lacquer ``Brick'' screen, by Irish-born designer Eileen Gray, is estimated to fetch between 1.2 million euros and 1.5 million euros at Christie's International's auction of the Gourdon Collection of 20th-century design, to be held in Paris on March 29 through March 31. A 1920s black lacquer ``Brick'' screen, by Irish-born designer Eileen Gray, is estimated to fetch between 1.2 million euros and 1.5 million euros at Christie's International's auction of the Gourdon Collection of 20th-century design, to be held in Paris on March 29 through March 31. Source: Christie's Images via Bloomberg

French collector Laurent Negro may raise a record 60 million euros ($82 million) at the auction of everything in his private museum.

Negro, 39, whose father started temporary employment company Bis SA, is clearing out his medieval Chateau de Gourdon, near Grasse, Provence, to make more living space, Christie’s International said. The three-day sale in Paris, starting today, is led by 20th-century design works by Eileen Gray and Emile- Jacques Ruhlmann.

The 860 lots at the Palais de Tokyo have a minimum estimate of 40 million euros. The total may exceed the 59.2 million euros of modern decorative art sold in 2009 for the late fashion designer Yves Saint Laurent and his partner Pierre Berge. At that event, a Gray armchair fetched a record 21.9 million euros.

“The Gourdon collection was put together with passion and with the investment upside in mind,” Rabih Hage, founder of DeTnk Collectible Design Market Report, said in an interview. “It’s in tune with the way collectors are now buying. They’re looking for pieces with a pedigree and a precise provenance.”

DeTnk this month published its overview of the market for modern and contemporary design. Auctions raised 142.6 million pounds ($228 million) in 2010, a 0.5 percent increase on the previous year, when the total was bloated by the success of Christie’s YSL sale, DeTnk said. French Art Deco designer Ruhlmann was the top auction performer in 2010, with sales of 6.4 million pounds ($10.3 million). The Gourdon sale has 34 Ruhlmann items, valued at more than 10 million euros.

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