The brainchild of Artcurial, an auction house generally known for its fine art, furniture and design sales, this was “C.R.E.A.M: — Cash Rules Everything Around Me” — billed as the first street culture auction by a traditional auction house. The prices were hardly the kind of figures reached at the David and Peggy Rockefeller auction last week at Christie’s in New York, which generated a record-breaking $832 million . But for Fabien Naudan, the vice president of Artcurial, who had spent three years gathering the 135 sale items from private hands, the evening was about more than money. “The C.R.E.A.M auction is a major milestone for us,” Mr. Naudan said, “not just in terms of the type of clients we have attracted with it, but also in terms of what it says about changing perceptions of valuable art and design in the current market.”About two thirds of the auction items were from Supreme, the New York skate brand that has cultivated a hysterical following over 20 years by offering only limited editions. Its now infamous and exclusive “drops” at its stores worldwide draw lines of eager buyers that snake around the block, and have attracted numerous luxury brands and high-profile collaborators in search of its magic.

Source: New York Times May 17, 2018 12:22 UTC