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š„ Alvaro minutes: When Night Meets $$$ + Brian Calvin
Plus, you could buy three islands... or one Magritte
Alvaro from Frame & Flame
November 20, 2024
In partnership with
-In a Minute-
š„ Words I Like: Auctions, surrealism, market flex.
When Night Meets $$$
RenĆ© Magritteās Lāempire des lumiĆØres went nuclear at Christieās, hitting a jaw-dropping $121.1M with fees. The image? Classic Magritteādaytime skies paired with a moody, lamp-lit street. The sale obliterated his previous record and left bidders scrambling. The original buyer, interior designer Mica Ertegun, snagged it in 1968 for what now feels like Monopoly money.
Meanwhile, a smaller gouache version of the same work also sold last nightāfor $18.8M. Turns out, collectors donāt just love Magritteās vibe; theyāre actively hoarding it.
Why it matters: Magritte is no longer just the darling of Surrealism fans; heās a full-blown asset class. The art market loves a mix of narrative depth and rock-solid returns, and Magritte checks both boxes. Itās less āWhat does this mean?ā and more āHow high will it go?ā
The moral: Magritteās reign might fade when the surrealism hype cools, or it might grow stronger if younger collectors start vibing with the eerie aesthetic. Either way, one thingās clear: art with mystery sells.
P.S. Thinking about what $121M could buy you besides a surreal painting? (Hint: three islands.)
Wall Street Canāt Hold a Note Like This
Streaming platforms pay billions in royalties.
JKBX (pronounced āJukeboxā) opens the door to invest in royalty shares of iconic songs, earning quarterly distributions tied to their performance.
This isnāt about fanfareāitās about diversification. Music royalties offer a potential income stream tied to one thing people never stop doing: pressing play.
Visit www.jkbx.com/legal/offering-circulars for important Reg A disclosures. This content is not investment advice, nor is it an offer of securities. All investments involve risk and may result in loss.
-Todayās Catch-
Brian Calvin
Brian Calvin, The Low Road, 2006
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š My 2 Cents: This piece nails Calvinās signature vibe: stretched-out figures, dreamy stares, and that āquietly weirdā energy that keeps you looking. The roadās ambiguity? Classic Calvin. Itās reflective without trying too hard. The California sun filters through his clean lines and cartoonish style, waving at Pop Art and Surrealism but never overstaying.
š Key Numbers: 2006 Calvin? Strong play. The estimate is $25kā$35k, starting at $18k. Historical comps? Works from this era snag a +30% premium over his $20,094 average, and his paintings dominate, sitting pretty at $24,329. Bonus points: Calvinās sell-through rate is above 80% since 2017ābuyers want this stuff.
š§ Why Itās a Smart Pick: Itās more than just data (though the data is good). This piece has emotional pull: introspective but not heavy, visually cool but not cold. For collectors, itās a prime comboāearly-period Calvin, a pivotal year, and strong gallery roots.
-Whenever You Are Ready-
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See you next Wednesday!
-Alvaro (@theartmarketguy)
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