Karl Lagerfeld fans battle it out in “explosive” Monaco auction

The atmosphere was “electric” at the Karl Lagerfeld estate auction hosted in Monaco this past weekend, where a total of €12 million was realised, far above the pre-sale high estimate of €3 million.

It was Part One of three auctions to be held by Sotheby’s and it featured 582 lots of 1,000-plus items, an anthology of Karl Lagerfeld’s personal taste as well as his life and career.

The possessions of the iconic designer, who spearheaded the collections of Chanel, Fendi and his own label, came from his homes in Paris, near the French capital, and Monaco.

After months of anticipation, the auction in Monaco and online attracted the attention of more than 1,400 bidders from 58 countries and, according to Vice-President of Sotheby’s France Pierre Mothes, the energy at One-Monte Carlo was infectious.

“This incredible first sale took place in an electric atmosphere throughout the weekend,” said the lead auctioneer. “The explosive auctions are a nod to the global recognition of this designer. The bidders fought to obtain the graphic works of Karl Lagerfeld but also those with which he had chosen to surround himself, as well as many of his memorabilia.”

This set of three Karl Lagerfeld figurines had a high estimate €150, and sold for €1,134. Photo by Monaco Life

Three Rolls Royces, displayed at the Hotel Fairmont Monte-Carlo, soared past their high estimates, selling for a total of €1.18 million. The artworks owned by Lagerfeld were also some of the highest selling items, particularly a portrait of the designer by Takashi Murakami which secured €289,800 – more than double its €120,000 high estimate.

Another portrait by designer Gianni Versace sold for €94,500, while works by Georges Lepape far exceeded expectations, including two drawings estimated at €800, that sold for €56,700.

Salon, circa 1930, attributed to Bruno Paul, high estimate €4,000, sold for €81,900. Photo by Monaco Life

Overall, 96% of lots sold for well above their estimate, like three inspirational scrapbooks Lagerfeld created in the mid-1980s that sold for €151,200 (high estimate €5,000), a 1986 self portrait for €107,250 (high estimate 3,000€) and Choupette’s cat scratcher that sold for more than 10X its €80 high estimate.

Not a single item was left unsold.

Three inspirational “scrapbook”notebooks from the mid-1980s had a high estimate of €5,000, but attracted a top bid of €151,200 on auction day. Photo by Monaco Life

As Pierre Mothes told Monaco Life on Friday, the 2 to 3 million euro auction estimate was a tentative figure and the end result was expected to be higher, but perhaps not this high.

Sotheby’s will hold the Karl Lagerfeld Estate Part II live auction from 14th to 15th December in Paris, while Part III will be online from 6th to 16th December.

Top photo: the Chanel Cruise Trophy, 2010, had a high estimate of €3,000 and sold for €78,120. Photo by Monaco Life 

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Video: Karl Lagerfeld estate auction

 

Monaco team secures podium in powerboating championship

Powerboat racers Tomaso Polli and Matteo Nicolini, representing the Principality of Monaco, have piloted ‘Six’ to a well-earned third place in the first round of this season’s XCAT (Extreme Catamaran) series.
The five-day event on the east coast Emirate of Fujairah, held from 30th November to 4th December, marked a significant comeback for Monegasque pilot Polli and Italian Nicolini, as they competed in the powerboat series for the first time since they secured a 12th place finish in 2016. Their high classification was decided over the course of three races, where ‘Six’ picked up fifth, third and second place finishes.
The ‘Six’ team had a shot at victory in the final race on Saturday having qualified on pole, but the Dubai Police team held the inside line going into the first corner and, having pulled off the overtake, went on to control the race in what was a flawless performance from the local team.
Speaking to local media after the third and final race, Polli gave a positive appraisal of his performance: “It was a challenging race. We got pole position and we were very hopeful for the win. We had a great start. But to get second place we are very happy – new team, new boat, so very satisfied.”

Team Six, photo by Flavio Grementieri

Polli, of course, has had a longer break than most, but the series was also heavily affected by the coronavirus pandemic – last week’s event was the first since 2019. “It is extremely exciting to be back racing. We have come back into the swing of things very quickly,” he said.
The return of XCAT, the flagship event of one of the most exciting nautical sports with boats surpassing 200 km/h, will bring renewed, global interest in the sport, and hopefully inspire a new generation of drivers.
Monaco, in particular, is not renowned for producing elite level motonautique drivers, but Polli’s brilliant performance for the Monaco based ‘Six’ team, as well as his continued participation in the XCAT series, is sure to heighten the profile of the sport within the Principality.
The final round of this year’s XCAT series begins in Dubai on Thursday, with Polli, Nicolini and all of those involved in the ‘Six’ team hoping to take another step, or two, up the podium.
 
 
 

Silver Nova: Silversea’s first luxury hybrid cruise ship

Monaco-based Silversea Cruises has announced the name of its first hybrid ship, Silver Nova, which will reduce greenhouse gas emissions in-port by an impressive 40%.

Silversea Cruises recently revealed that Silver Nova will be the first in its innovative Project Evolution scheme, and construction has begun in Papenburg, Germany.

The vessel, which is set to be delivered in summer 2023, will be the first luxury hybrid cruise ship boasting a no-emission status whilst in port. The ship will have dual power sources – fuel cells and batteries – which will be used in port, and natural liquefied gas as its primary fuel source.

The new concept allows the ship to enter ports, protecting the local areas and helping to preserve the beauty of the places it visits.

The hybrid technology is not good for the ports, it also gives Silver Nova a sustainability edge by reducing emissions 40% overall over the company’s previous Muse class.

“Our Nova class ships represent a significant investment in unprecedented technological solutions,” says Roberto Martinoli, President and CEO of Silversea Cruises. “They support our mission to preserve the planet without compromising on comfort or luxury. Silver Nova is the manifestation of Silversea and Royal Caribbean Group’s long-term commitment to sustainability.”

Some of the sustainable features of the Silver Nova are a micro auto gasification system which reduces onboard waste volume and lowers incineration discharge. The ship is predicted to achieve an Energy Efficiency Design Index rating 25% better than the current International Maritime Organisation requirements. Shore power allows the ship to cut its main generators at certain ports and plug into onshore energy supplies, reducing onboard local emissions to zero. To top it off, the ship’s hydrodynamic design will lessen the vessel’s impact on the environment.

“Sustainability is the future of luxury travel and the name Silver Nova is representative of the incredible innovation of Silversea’s luxury,” added Barbara Muckermann, Chief Commercial Officer. “Silversea is already a leader in environmentally conscious travel and now, with Silver Nova, we will go even further to meet the expectations of both today’s and tomorrow’s luxury traveller.”

 
 
Photo of Jan Meyer and Roberto Martinoli, source Silversea
 
 
 

Jim Mellon invests in start-up accelerator Monaco Foundry

Monaco Foundry has just announced that British billionaire entrepreneur Jim Mellon will be investing in the company to take it to the next level. 
Monaco Foundry was founded by a team of entrepreneurs, former government advisors, venture capitalists and Fortune 500 executives to invest in early to mid-stage companies who are looking to make the world a better place by aiding their growth through a unique sweat equity model based on values.
Now, Monaco Foundry has attracted the attention of Scottish investor and philanthropist Jim Mellon, founder of the Burnbrae Group, who has joined as a partner with the group.
“We are delighted to invest in Monaco Foundry, we believe they are a key player in the innovation playground and a pioneer when it comes to building a new breed of business accelerator, the first of its kind worldwide,” said Jim Mellon. “They cultivate new ideas and technologies embedding the economies of tomorrow.”
Fabrice Marquet, co-Founder of Monaco Foundry, said he was “humbled” that the world-renowned entrepreneur and investor believes in their vision. “Monaco Foundry will keep accelerating the growth of its portfolio companies thanks to Jim Mellon’s investment and strengthen our unique premium business development services to early-stage companies. In Q1 2022, we will also be launching a massive project to disrupt and democratise the way startups get funded.
“Today, most economic growth comes from startups but the current model is completely outdated, inefficient and biased (only 0.05% of startups raise VC money). Think about the impact on countries’ GDPs if we could increase the success rate of new companies.”
Meanwhile, Monaco Foundry announced that Crystal Water Group has been added to their portfolio. The start-up has created a solution that allows existing tap water to be purified with a pioneering filtration system offering healthy, sustainable drinking water worldwide, whilst assisting in the reduction of transportation costs, pollution, and wastage from plastic or glass water bottles.
“We are excited to work with a driven, successful and passionate entrepreneur like (Crystal Water’s founder) Tommy Boserup,” said Monaco Foundry Senior Partner Aaron Woolfson. “His vision to fix what is a major global issue for us all is 100% aligned with what Monaco Foundry stands for. Having access to quality water coming from a London tap via the Crystal Water device is game-changing and not something I knew was possible. The additional positive environmental impact this product delivers made this company a no-brainer for us to get behind.”
 
 
 
 
 

Christmas Market in the Great White North  

The Princely family has officially opened Monaco’s Christmas Village and this year, get ready to encounter puffins, the Niagara Falls and immeasurable wilderness as the Port of Monaco takes on a Canada theme. 

Prince Albert, his children Prince Jacques and Princess Gabriella, sister Princess Caroline, her son Pierre Casiraghi and wife Beatrice, inaugurated the new Christmas village on Friday evening, alongside Monegasque personalities including National Council President Stéphane Valeri.

Sheltered by a forest of 800 natural firs, the village will offer visitors the chance to meet one of Canada’s most adorable sea birds, the puffin. The journey through the Great White North takes visitors to Niagara Falls, Toronto and the massive plains, deep forests and vertiginous mountains of the country’s western regions, before landing in British Columbia with its totem poles and the terminus of the transcontinental railway line linking east to west. Also on hand will be Bonhomme, the mascot of the Quebec winter carnival.

The village also features many familiar sites, such as the merry-go-round and duck pond fishing, though this year there will some new additions, such as a caribou ride carousel and a toboggan slide.

The market features 17 chalet-style kiosks selling a variety of items as well as 20 food stands, each with an adjoining dining area. In addition, the ice-skating rink, nestled in the heart of the village, will be open and ready for business throughout. 

 Despite the carefree nature of the event, there are real world health measures that will need to be adhered to. All visitors over 16 will be required to present a valid health pass, mask-wearing is compulsory for everyone over five years of age, and all eating and drinking must be at a seated table. Walking with food and drink is prohibited.

The Christmas Village can be accessed from six points and will be fitted with carpets to demark them clearly. This is not only to ensure an orderly entry to the site, but also to keep an eye on the number of guests entering. There will be a cap on visitors at any given time and once that number has been reached, access will be suspended temporarily. To minimise risk of being denied entry, there is a camera set up by the Mairie offering a streaming live feed so potential visitors can gauge whether the crowds are nearing maximum density.

The Christmas in Canada Village is open until Sunday 2nd January on the Quai Albert 1er.

 
 
Photo by Ed Wright Images / Mairie de Monaco
 
 
 

Title race in Saudi Arabia turns nasty

Sunday’s inaugural Saudi Arabia Grand Prix played host to one of the most memorable and dramatic F1 races in recent history, treating us to multiple red flags and collisions between the title rivals.
Charles Leclerc, following a strong qualifying, will be disappointed to have not converted his fourth-place grid position, ultimately finishing in a respectable seventh place. The Monegasque driver was one of many to have lost out in the mid-race carnage, which produced two red flags.
Having crashed on the exit of the final corner on Saturday’s qualifying, Max Verstappen only qualified third, whilst Lewis Hamilton took pole. Valterri Bottas, an ambassador at last week’s Beking event in Monaco, started second. All three got a good launch and remained in formation, with Leclerc trailing in fourth.
The turning point in the race came from a relatively innocuous crash from Mick Schumacher, which brought out the red flag as repairs were needed to repair the barrier. This, however, was after many in the field, including Leclerc and Hamilton, had pitted for new tyres, leaving them languishing further down the field. Verstappen was the main benefactor as he stayed out, changed his tyres under the red flag and found himself leading the race.
From a grid restart, Hamilton launched down the inside of Verstappen, but the Dutchman hung-on around the outside; the Briton took evasive action to avoid the Red Bull, and subsequently lost out to Esteban Ocon.
Further down the field, Leclerc was squeezed against the barrier by Perez, sending the Mexican spinning and causing a subsequent crash involving Nikita Mazepin and George Russell, bringing out another red flag.
Dramatic radio negotiations between the FIA, Red Bull and Mercedes during the second red flag meant that, in order to avoid incurring a penalty, Verstappen would give back the positions to Ocon and Hamilton, and start in third.
On the second restart however, Verstappen overtook Hamilton at turn one as the cars ran three abreast. Ocon was a sitting duck for Verstappen and then for Hamilton, who both made light-work of getting by the Frenchman.
Hamilton, with superior pace on the hard tyres closed in on Verstappen, almost overtaking with the Dutchman only maintaining the place having run wide. He was then ordered to give the place to Hamilton, who in trying to overtake the slow-moving Red Bull, dramatically ran into the back, damaging the Briton’s front-wing. Hamilton did eventually pass, despite a couple of gung-ho moves from Verstappen, none of which stuck. Verstappen subsequently picked up penalties for the incidents, but maintained second position, whilst Hamilton took the chequered flag to leave the rivals level on points going into the final race.
Bottas overtook Ocon on the line to complete the podium, whilst Leclerc, one of the major victims of the mid-race carnage, finished seventh – crucially allowing him to overtake new Monaco resident, Lando Norris to take fifth position in the drivers’ standings.
The race was therefore bittersweet for Leclerc, who despite climbing the drivers’ standings, was left reflecting on what could have been. “It is a shame to only finish seventh, because we had the potential to do better,” he said after the race. “The red flag cost us three positions then came the contact with Perez and we lost more positions.”
Leclerc takes a slender lead over Norris going into the final race of the season in Abu Dhabi next weekend. All the attention, however, will be on Hamilton and Verstappen, as both vie to become world champion, in a title race that will go down to the wire.
 
 
Photo source: Scuderia Ferrari Press Office