Lévy Gorvy Dayan Bets on Urgency With New LGD Hammer Sales Platform
ARTnews reports that Lévy Gorvy Dayan has launched LGD Hammer, a sales platform designed to introduce auction-style urgency into a gallery context by offering one high-value work at a set time to a limited pool of buyers. Co-founder Brett Gorvy says the initiative responds to slower private sales and collectors’ desire for more time to view and negotiate, while still leveraging the competitive pressure associated with auctions. The first offering is Willem de Kooning’s “Milkmaid” (1984), estimated at $10 million to $15 million, reflecting continued demand for blue-chip artists and for works in the $10 million–$20 million range. The painting will be available by appointment at the gallery’s Upper East Side space from May 2 through the sale on May 16, with Dominique Lévy acting as auctioneer and bidding conducted by phone with online viewing.
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This story was covered in Spotlight Returns, and the Market Races