June 5: Pace Gallery Drops 50 Artists; Bonhams Motorcycle Sale with 300+ Lots
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In this episode:

Pace Gallery Restructuring
- Cutting ~50 artists from roster of 135, reducing staff from 250 to 200
- CEO Marc Glimcher describes mega-gallery model as "unfixable"
- Locations: New York, London, Los Angeles, Hong Kong, Seoul, Tokyo, Geneva

Sagrada Familia
- 18th and final tower completed after 144 years of construction
- Pope scheduled to inaugurate
- Designed by Antoni Gaudi; long considered incompletable

Luxury & Fashion
- Zegna (ZGN) staging Summer 2027 runway show in Los Angeles today
- Villa Zegna invitation-only private club opens in Hollywood
- Zegna joins Dior, Gucci, and Louis Vuitton in staging shows outside traditional fashion week calendar

Auctions & Events
- Bonhams Motorcycles Online Summer Sale live through June 15 — 300+ lots, 250+ without reserve
- 100+ artists threaten legal action against Venice Biennale over Visitors' Lions prize
- London Gallery Weekend opens today — 120+ galleries participating

Week Ahead
- Sotheby's Magnificent Jewels — June 9, New York
- Christie's watches — June 10, New York
- Bonhams watches — June 11, London
- Phillips watches — June 13-14, New York
- Sotheby's watches — June 15, New York
- Bonhams National Automobile Museum — June 13, Reno

Links:
- ALT/FNDATA: https://www.altfndata.com
- Pace Gallery restructuring: https://news.artnet.com/market/pace-gallery-downsizes-cutting-artists-and-staff-2778584
- Sagrada Familia: https://www.theartnewspaper.com/2026/06/04/gaudis-sagrada-familia-finally-shakes-off-its-incompletable-tag-as-pope-prepares-to-inaugurate-tallest-and-final-tower
- Zegna LA runway: https://wwd.com/menswear-news/mens-designer-luxury/zegna-spring-2027-los-angeles-thom-browne-first-show-milan-fashion-week-1238638812/
- Venice Biennale legal action: https://www.theartnewspaper.com/2026/06/04/more-than-100-artists-threaten-legal-action-against-venice-biennale

Also from ALT/FNDATA:
- Closing Price — Mon-Fri at 5 PM ET
- Art Market — Tuesdays at 8 AM ET
- Luxury Spending — Wednesdays at 8 AM ET
- Auto Market — Thursdays at 8 AM ET

June 4: Centre Pompidou Opens in Seoul; Ferrari 599XX Leads RM Sotheby's Tegernsee at EUR 2.5M

In this episode:

Centre Pompidou Seoul
- Centre Pompidou Hanwha opens today in Yeouido, Seoul's finance district
- 10,000 sqm across four floors inside the 63 Building, designed by Jean-Michel Wilmotte
- Former aquarium converted into a "box of light"
- Inaugural exhibition: "The Cubists: Inventing Modern Vision" — Picasso, Kandinsky, Matisse, Chagall
- Partnership with Hanwha Foundation (Hanwha conglomerate)
- Opens on the 140th anniversary of France-Korea diplomatic relations

RM Sotheby's Tegernsee — Consignment Announced (July 4)
- 2009 Ferrari 599XX Evo: EUR 2M–2.5M (headline lot)
- 2023 Ferrari 812 Competizione: EUR 1.25M–1.5M
- 2004 Porsche Carrera GT: EUR 1.2M–1.6M
- 1960 Porsche 356 B Carrera 1600 GS/GT Coupe by Reutter: EUR 470K–570K
- 1971 Mercedes-Benz 280 SE 3.5 Cabriolet: EUR 300K–400K
- 2006 Mercedes-Benz CLK DTM AMG Cabriolet

Watch Auction Season — June 9-15
- Sotheby's Magnificent Jewels — June 9, New York
- Christie's watches — June 10, New York
- Bonhams watches — June 11, London
- Phillips watches — June 13-14, New York
- Sotheby's watches — June 15, New York

Equity Snapshot
- LVMH (MC.PA): EUR 477.10, day range 473–479.75
- BMW, Mercedes-Benz, Porsche: testing technical support levels
- Ferrari (RACE): 29.5% operating margin

Links:
- ALT/FNDATA: https://www.altfndata.com
- Centre Pompidou Hanwha: https://www.centrepompidou.fr/en/lieu/centre-pompidou-hanwha
- RM Sotheby's Tegernsee lots: https://rmsothebys.com/auctions/tc26/lots/
- Ferrari 599XX consignment: https://www.magnetomagazine.com/articles/ferrari-599xx-leads-rm-sothebys-coe-germany-supporting-2026-tegernsee-sale/

Also from ALT/FNDATA:
- Auto Market — Thursdays at 8 AM ET
- Closing Price — Mon-Fri at 5 PM ET

June 3: Neiman Marcus Closes Dallas Flagship; De Beers Reports 25% Rise in Diamond Spending

In this episode:

Luxury Retail
- Neiman Marcus closing its Dallas flagship store, over 100 years old, as part of Saks Global's Chapter 11 restructuring

Jewelry & Gems
- De Beers: average cost of a natural mined diamond reached $4,063 in 2025, up 25% from 2023
- Kao diamond mine going on care and maintenance from July amid rough-price downturn
- Christie's Hong Kong Important Watches auction: $36M total, Patek Philippe top lot at $1.8M
- Christie's Hong Kong: multi-gem ring sold for $194,500 — five times its high estimate

Swiss Watch Exports
- Swiss watch exports to the US fell 17% YoY in April
- Hong Kong luxury sales (jewelry, watches, clocks, valuable gifts) up 20% YoY in April

Equity Recap (from yesterday's Closing Price)
- Watches of Switzerland (WOSG.L): surged 14% on FY2026 earnings, US sales +24%
- Richemont (CFR.SW): near record high CHF 161.80
- LVMH (MC.PA): EUR 473, down 26% YTD
- Signet (SIG): raised full-year guidance

Links:
- ALT/FNDATA: https://www.altfndata.com
- Neiman Marcus / Saks Global: https://www.businessoffashion.com/news/retail/neiman-marcus-to-close-dallas-flagship/
- De Beers diamond spending data: https://rapaport.com/news/natural-diamond-spending-and-sizes-rising-de-beers-says/
- Christie's HK Important Watches: https://rapaport.com/news/important-watches-auction-rakes-in-36m-at-christies-hong-kong/
- Swiss watch exports: https://rapaport.com/news/us-market-continues-to-weigh-on-swiss-watch-exports/

Also from ALT/FNDATA:
- Luxury Spending — Wednesdays at 8 AM ET
- Closing Price — Mon-Fri at 5 PM ET