Some of the items in Yves Saint Laurent auction gets “ten times their estimated value”
After the death of fashion icon Yves Saint Laurent last June, Pierre Bergé, co-founder of Yves Saint Laurent Couture House and Yves’ lifelong partner, decided to auction off 700 pieces of the couple’s art and antique collection. The three-day auction, which began on Monday, is now being deemed the “sale of the century.” More than a thousand wealthy bidders filled Paris’s historic Grand Palais and “sent prices for old masters, silver antiques and Art Deco gems rocketing.” The auction broke seven world records for works by contemporary artists such as Matisse, Mondrian and Brancusi and propelled pieces to “ten times their estimated value.” An ornate “Dragons” armchair by Irish designer Eileen Gray, for instance, sold for 21.9 million euros ($28.2 million) making it the “second most expensive item of furniture ever sold.” According to one auction attendee, “owning a YSL piece is like owning a Cezanne.” What recession? many are asking.