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It’s been a big year for auction houses world over. Despite the ever-changing economic climate, it seems that big-ticket jewels, fashions and artworks cannot fail to draw the attention, and the cash, of bidders. And so as the hammer falls on 2018, we look at some of the stand-out moments from our favourite auctioneers.
The Record-breaking Sale of The Pink Legacy Diamond
<img decoding="async" loading="lazy" class="aligncenter wp-image-40726 size-full" src="//www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min.png" alt="Pink Legacy Auction houses" width="700" height="446" srcset="https://www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min.png 700w, https://www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min-200x127.png 200w, https://www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min-439x280.png 439w, https://www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min-120x76.png 120w, https://www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min-500x319.png 500w, https://www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min-400x255.png 400w, https://www.gafencushop.com/wp-content/uploads/2018/11/Screen-Shot-2018-11-15-at-2.36.07-PM-min-600x382.png 600w" sizes="(max-width: 700px) 100vw, 700px" />
We’ve mentioned The Pink Legacy Diamond at Gafencu before but we love any excuse to have a look at it! The diamond sold at Christie’s in Geneva and set the record for highest price paid per carat for a pink diamond. You can read more about <a href="//www.gafencushop.com/pink-legacy-diamond/">The Pink Legacy here</a>.
Jenny Saville and David Hockney become the World’s Most Expensive Living Artists
<img decoding="async" loading="lazy" class="aligncenter wp-image-40880 size-full" src="//www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759.jpg" alt="Auction houses" width="700" height="466" srcset="https://www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759.jpg 700w, https://www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759-421x280.jpg 421w, https://www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759-120x80.jpg 120w, https://www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759-500x333.jpg 500w, https://www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759-400x266.jpg 400w, https://www.gafencushop.com/wp-content/uploads/2018/11/3-12-e1542788918759-600x399.jpg 600w" sizes="(max-width: 700px) 100vw, 700px" />
Christie’s New York made headlines when Hockney’s Portrait of an Artist (pool with two figures) sold for US$90.3 million to an unknown buyer making the British painter a record holder as no other art work has ever been sold for more during the artist’s lifetime.
<img decoding="async" loading="lazy" class="aligncenter wp-image-40879 size-full" src="//www.gafencushop.com/wp-content/uploads/2018/11/2-18.jpg" alt="Auction houses" width="466" height="700" srcset="https://www.gafencushop.com/wp-content/uploads/2018/11/2-18.jpg 466w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-18-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-18-186x280.jpg 186w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-18-120x180.jpg 120w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-18-400x601.jpg 400w" sizes="(max-width: 466px) 100vw, 466px" />
Meanwhile at Sotheby’s in London, Jenny Saville became the world’s most expensive female artist after her groundbreaking self-portrait Propped was sold for £9.5 million, Making it the most expensive work by a living female artist.
The Sale of the First Artwork Authored by AI
<img decoding="async" loading="lazy" class="aligncenter wp-image-40883 size-full" src="//www.gafencushop.com/wp-content/uploads/2018/11/1-17.jpg" alt="Auction houses" width="700" height="466" srcset="https://www.gafencushop.com/wp-content/uploads/2018/11/1-17.jpg 700w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-17-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-17-421x280.jpg 421w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-17-120x80.jpg 120w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-17-500x333.jpg 500w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-17-400x266.jpg 400w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-17-600x399.jpg 600w" sizes="(max-width: 700px) 100vw, 700px" />
It wasn’t just human artists breaking records in 2018. This year Christie’s became the first to auction an AI-generated artwork. Although the move was considered rather controversial, Portrait of Edmond Belamy sold for $432,500, almost 45 times more than it’s original estimate.
Sotheby’s held their first watch auction in Dubai
You don’t get to be one of the oldest and most prolific auction houses around without keeping an eye on the future. With the market in Dubai continuously expanding, Sotheby’s hosted its first watch auction with grand sales of US$2.6 million.&nbsp;
<img decoding="async" loading="lazy" class="aligncenter size-full wp-image-40884" src="//www.gafencushop.com/wp-content/uploads/2018/11/2-19.jpg" alt="" width="700" height="466" srcset="https://www.gafencushop.com/wp-content/uploads/2018/11/2-19.jpg 700w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-19-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-19-421x280.jpg 421w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-19-120x80.jpg 120w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-19-500x333.jpg 500w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-19-400x266.jpg 400w, https://www.gafencushop.com/wp-content/uploads/2018/11/2-19-600x399.jpg 600w" sizes="(max-width: 700px) 100vw, 700px" />
China Guardian Made Their Highest Ever Sales&nbsp;
<figure id="attachment_40878" aria-describedby="caption-attachment-40878" style="width: 700px" class="wp-caption aligncenter"><img decoding="async" loading="lazy" class="wp-image-40878 size-full" src="//www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211.jpg" alt="Auction houses" width="700" height="466" srcset="https://www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211.jpg 700w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211-421x280.jpg 421w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211-120x80.jpg 120w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211-500x333.jpg 500w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211-400x266.jpg 400w, https://www.gafencushop.com/wp-content/uploads/2018/11/1-16-e1542789023211-600x399.jpg 600w" sizes="(max-width: 700px) 100vw, 700px" /><figcaption id="caption-attachment-40878" class="wp-caption-text">Pictured is the highest selling Colombian emerald and diamond ring which was part of a larger collection featuring similar stones.</figcaption></figure>
The second-largest auction house in Hong Kong reported HK$1.1 billion in annual sales, their highest-ever annual total. Highlights from their Autumn auctions included a collection of Jade Carvings which achieved rare “white glove” status and a 19.69-carat natural Colombian emerald and diamond ring which went for HK$ 20.62 million.
The Girl With A Balloon Became Love Is In The Bin&nbsp;
<img decoding="async" loading="lazy" class="aligncenter wp-image-40881 size-full" src="//www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750.jpg" alt="Auction houses" width="700" height="466" srcset="https://www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750.jpg 700w, https://www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750-421x280.jpg 421w, https://www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750-120x80.jpg 120w, https://www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750-500x333.jpg 500w, https://www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750-400x266.jpg 400w, https://www.gafencushop.com/wp-content/uploads/2018/11/4-9-e1542788878750-600x399.jpg 600w" sizes="(max-width: 700px) 100vw, 700px" />
It would be highly remiss of us to publish a round-up of auction news without mentioning the infamous sale of Banksy’s Girl with a Balloon, now retitled Love is in the Bin. The world watched in a mixture of horror, humour and wonder as the hammer came down on the £1,042,000 sale and the painting promptly began to&nbsp; self-destruct. The buyer decided to keep the partially shredded artwork and the piece was duly renamed. Banksy later admitted that, despite many rehearsals, the prank had actually gone wrong. The painting was supposed to be completely shredded but the mechanism jammed part way through.
Text: Alice Duncan

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Lots of History: The Best Moments of 2018 from Auction Houses Worldwide