The first auction in a two-part sale of the late fashion designer Karl Lagerfeld’s estate in Monaco has sold out—and quadrupled its pre-sale estimate to earn €12 million ($13.5 million).
The legendary designer who died in 2019 left his mark on the world of fashion as director of Chanel and Fendi, ensuring there would be a widespread interest in the sale. Indeed, 1,500 international bidders hungry to own a piece of fashion history fought it out over 582 lots, which included artworks, cars, garments, and sketches by the couturier.
“Collectors, fashionistas and long-standing admirers of Karl Lagerfeld’s unique legacy and style came together this weekend, physically and virtually, to express their appreciation for one of the world’s greatest designers,” said Pierre Mothes, vice president of Sotheby’s France, in a celebratory statement following the sale.
Among the top lots were a portrait of the designer by Takashi Murakami, which sold for €100,000 ($112,410); another by Gianni Versace went for €94,500 ($106,227), while a portrait of Lagerfeld’s cat Choupette by Joana Vasconcelos exceeded its high estimate of €7,000 to fetch €20,320 ($22,841).
Meanwhile, Jeff Koons’s (2013) sold for €38,100 ($50,400), also exceeding its estimate, and a diapason desk from 1968 by Marzio Cecchi surpassed its estimate by a full €35,000 to sell for €38,100 ($42,828).
Many variations of Lagerfeld’s signature black blazer, by Saint Laurent, Dior Homme, and others, were put up for sale, as were a selection of his gloves.
“There was an electric atmosphere for this incredible first sale which saw explosive bidding, with buyers fighting hard for everything from Karl’s drawings to the art he chose to surround himself with, as well as many of his personal belongings,” Mothes said.
Other items included chandeliers, chairs, mirrors, rugs, a 19th-century ornate bookcase ladder, which sold for around €19,000, and Lagerfeld’s dressing table.
Part two of the auction takes place in Paris and online from December 12-17.