🔥 Auction Bloodbath + Javier Calleja

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HEY Y’ALL!

Thanks for all the great feedback on the Madeleine Bialke piece I shared last Friday!

🔥 ICYMI – Catchs from the Last Week:

1. Madeleine Bialke, Hook & Eye, 2023 – priced at £19,000

2. Mario Schifano, Tutte Stelle, 1974 – priced at £14,000

3. Kwesi Botchway, Purple Hair Tie, 2020 – priced at £34,000

Today we have a Javier Calleja priced to move—market heat despite a slowdown. Meanwhile, auctions tank, Saudi flexes, and Pinault plays the long game.

But first…

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A message I got this week about Artscapy:

Limited spots—don’t miss out!

-Today’s Catch-

Javier Calleja

💭 My 2 Cents: Javier Calleja’s “Drop By Drop” isn’t your typical fluff piece. It’s got those big-eyed, cutesy vibes but packs enough market heat to quiet the skeptics. I’m not one to gush, but there’s real substance here—especially when collectors keep scooping up his works faster than you can say “bubble.”

🔑 Key Numbers: The piece is priced at £150,000 and measures 140 cm by 100 cm, mixed media on paper. Calleja’s total sales volume sits around $21.6 million, with a sell-through rate of 90.6%. Despite a -4.3% market CAGR, the average hammer ratio hovers at 2.05, suggesting many pieces outperform estimates. Provenance from Dio Horia Residency adds a respectable stamp of approval.

🧠 Why It’s a Smart Pick: Even with a few dips in year-over-year growth, interest in Calleja’s playful yet oddly subversive style shows no sign of collapsing. The £150K tag may sting, but there’s room for upside if you’re willing to bet on his growing global fan base. No lefty sugarcoating—this is a prime example of supply, demand, and collector hype fueling market power.

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-In a Minute-

🔥 Words I Like: meltdown, lit, phoenix

Auction Bloodbath: Who’s Winning?

The art world is in flames—some literally, some figuratively. Claire Tabouret is turning Notre-Dame’s fire into a phoenix moment, crafting new stained glass that injects fresh life into the cathedral.

Meanwhile, in Jeddah, Saudi Arabia is making a power move, blending centuries-old Islamic artifacts with contemporary works to flex its cultural ambitions. It’s art as spectacle, and collectors should pay attention—markets follow money, and Saudi isn’t shy about pushing the needle.

But not everyone’s rising from the ashes. The fall auctions just clocked in as the worst this century, at least according to Moses and Mei. Half the works sold lost money, and anyone betting on an easy flip got burned.

Yet while the blue-chip market is stumbling, mid-tier names and alternative spaces—like United States Artists’ new batch of $50K fellows—are buzzing. Smart money is circling outside the usual suspects, looking for where the next fire sparks.

Elsewhere, Sotheby’s just turned its Paris HQ into a high-end café, letting you sip your overpriced latte next to a Birkin or a Vigée-Lebrun. A gimmick? Sure. But also a reminder that the art world is desperate for new revenue streams.

Even François Pinault is playing the long game, rolling out his private collection in L.A. during Frieze—because what better way to keep your assets relevant than by controlling the narrative?

-Whenever You Are Ready-

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See you soon!

-Alvaro (@theartmarketguy)

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Disclaimer

Not financial advice. Frame&Flame is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.