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