From Liquidation to "Celebration:" Inside Sotheby's $17M Grails Sales

NFT Now
NFT Now

29 Jun 2023 9:06 PM

Crowned by The Goose's $6.2 million sale, the evening exceeded pre-auction estimates by closing at $11 million....

  • Sotheby's held the Grails Part II live auction, featuring generative art NFTs, including Dmitri Cherniak's Ringers #879, also known as "The Goose."
  • The collection was curated by Vincent Van Dough on behalf of Three Arrows Capital and became part of liquidation proceedings after the collapse of 3AC.
  • Sotheby's saw an opportunity and exceeded pre-auction estimates, with the evening closing at $11 million and the Grails collection totaling $17 million.
  • Michael Bouhanna, Sotheby's VP and head of digital art, discusses his background and how he got into NFTs.
  • Sotheby's secured the opportunity to auction the assets originally with 3AC by contacting the liquidators and proposing a global, multi-channel sale.
  • The success of the auction can be attributed to various factors, including the strategy of presenting it as a fine art sale and the popularity of "The Goose" as a meme.

The sentiment of the article is generally positive, highlighting the success of Sotheby's Grails Part II auction and the opportunities presented by NFTs in the digital art market.

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You May Ask

What was the total sales amount for the Grails Part II auction?Who curated the collection for the auction?How did Sotheby's secure the opportunity to auction the assets originally with 3AC?What factors contributed to the success of the auction?How did Michael Bouhanna get into digital art and NFTs?

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