Sotheby’s launches first fine art Sealed auction without reserve – The Art Newspaper

Sotheby’s, the world’s premier destination for fine art and luxury, has announced the expansion of its innovative, online only, private selling format “Sealed” to now include fine art.

Launching as a dedicated single-lot auction with a presale estimate of £1.2m-£1.8m, the Japanese contemporary artist Yayoi Kusama’s striking sculpture Phantom Polka Dots of Fate, Ordained by Heaven, Were the Greatest Gift Ever for Me will be sold through the Sealed Auctions platform and on view in Sotheby’s New Bond Street Galleries in London from Wednesday 19 June, closing at 14.00 on Thursday 27 June 2024.

An exceedingly rare sculpture by one of the 21st century’s most iconic artists, Sotheby’s is honoured to present the singularly unique Phantom Polka Dots of Fate, Ordained by Heaven, Were the Greatest Gift Ever for Me. Newly realised by the artist in 2021, the present work belongs to a series of standing Infinity Mirror Rooms, and is the first of its kind—incorporating LED lights, sculpture and reflective glass atop architectural legs—to be offered at auction.

Phantom Polka Dots of Fate, Ordained by Heaven, Were the Greatest Gift Ever for Me comprises a five-sided chamber held above the ground by elegant metal legs, with the sides of the pentagonal sculpture alternately mirrored and transparent, both reflecting the work’s surroundings and revealing the infinite space within. Within this chamber are three tentacle-like forms adorned with the artist’s ubiquitous yellow and black polka-dot motif, each animated by an inner light. Radiating in the paradigmatic dot-patterning which flows down the centre of the rotund tentacle’s skin, the work reflects Kusama’s lifelong preoccupation with the infinite and sublime, as well as the twin themes of cosmic infinity and personal obsession as found in pattern and repetition.

Max Moore, SVP, Head of Sealed Sales, Global Fine Art, said: “Sotheby’s is delighted to expand our increasingly popular Sealed Auctions Platform to incorporate works of fine art, alongside our existing portfolio of cars, wines, spirits, and luxury items. These highly curated auctions offer both buyers and sellers a new platform for exceptional and rare-to-market objects. The recent success of Sealed has further demonstrated how Sotheby’s is at the forefront of digital innovation, constantly evolving to meet our audience’s needs.”

Sotheby’s innovative Sealed Auctions platform provides a secure, discreet and convenient environment for buyers from all over the world to bid on high-end cars, luxury products, and now, fine art. Bidders can place as many bids as they want while the sale is open and can see where their bid ranks compared to other bidders. Whilst bidders are not able to see the winning bid amount, this ranking system allows greater visibility in the build-up to the sale’s close. Offering a private and competitive alternative to Sotheby’s traditional auctions, there is no buyers’ premium for Sealed, and the final sale price remains confidential.

In addition to expanding into fine art, this month will also see Sotheby’s introduce a captivating new offering of jewellery via the Sealed Auction platform, tailored to the evolving tastes of Millennial and Gen Z buyers, who are showing a preference for unbranded diamonds and gemstones. From 20 June, Sotheby’s will offer monthly drops of three stones, comprising a white diamond, a coloured diamond and an exceptional gemstone.