David Hockney Dies at 88; Christie's South Asian Sale Hits £18.9M; Luxury Rallies on the Iran Deal

June 12: David Hockney Dies at 88; Christie's South Asian Sale Hits £18.9M; Luxury Rallies on the Iran DealThe art world remembers David Hockney, a £18.9M South Asian sale at Christie's, a world-record Elizabeth Taylor handbag, and luxury stocks surging on a possible US–Iran peace deal.In this episode:In Memoriam- David Hockney has died at 88 (at home in London, June 11). Born Bradford, 1937; pop-art pioneer; the Los Angeles pool paintings ("A Bigger Splash," "Portrait of an Artist"); joiners, Yorkshire landscapes, and iPad drawings. Held at the Met, MoMA, Tate and Centre Pompidou; his 2017 Tate Britain retrospective was the most-visited in that gallery's history; Royal Academician and Order of Merit, and he turned down a knighthood. "Portrait of an Artist" sold for $90M at Christie's in 2018 (then the record for a living artist) — he first sold it for $20,000 in 1972- Nigel Cabourn, British menswear designer, has died at 77. Known for military- and workwear-inspired clothing drawn from his own vast archive of 20th-century military uniforms; a touchstone of the heritage-menswear movementAuction Results- Christie's "Sublime Shadows: South Asian Art From a Distinguished Collection" (London): £18.9M total — Christie's first dedicated sale of its kind since 2019, on strong international demand for South Asian modern & contemporary art- Christie's "Handbags Online: The New York Edit": $3.26M total, 97% sold by lot. A Fendi Baguette once owned by Elizabeth Taylor set a world record for the model at $21,590Markets — Luxury Rallies on the Iran News- Luxury stocks surged on reports the US and Iran are nearing a deal to end their war; LVMH up ~5% in early trading; oil at a multi-month low. Bloomberg notes a whipsaw week, swinging from the year's worst day (Wednesday) to this rally in a matter of sessions- European luxury opens (vs Thursday's close; US names open later): LVMH (MC) 508 EUR +3% (~+5% mid-morning); Kering (KER) 268 EUR +3.4%; Hermès (RMS) 1,680 EUR +2.3%; Richemont (CFR) 179 CHF +2.9%; Swatch (UHR) 205 CHF +1.6%; Watches of Switzerland (WOSG) 715p +1.4%; Burberry (BRBY) 1,161p +2.1%Luxury Brands- LVMH's Pucci, under designer Camille Miceli, is one of the group's fastest-growing labels via a Gen Z-friendly take on its Mediterranean heritage (BoF)- Farfetch launches "Farfetch First," a new service to elevate the customer experience and support its brand partners (BoF)Week Ahead- Today: Christie's Important Watches (New York) + Christie's Paris Hermès online sale opens + Sotheby's Gem Drop- June 13: Bonhams National Automobile Museum (Reno) + Phillips New York Watch Auction- June 15: Sotheby's Important WatchesLinks:- ALT/FNDATA: https://www.altfndata.com- David Hockney (Artnet): https://news.artnet.com/art-world/david-hockney-obituary-2675195- Nigel Cabourn (Business of Fashion): https://www.businessoffashion.com/news/luxury/menswear-designer-nigel-cabourn-dies-at-77/- Christie's South Asian Art (£18.9M): https://press.christies.com/first-dedicated-sale-of-its-kind-at-christies-london-since-2019-sublime-shadows-south-asian-art-from-a-distinguished-collection-totals-ps18909996/- Elizabeth Taylor Fendi record (Christie's): https://press.christies.com/worldrecord-price-for-elizabeth-taylors-fendi-baguette-at-21590-drives-momentum-in-handbags-online-the-new-york-edit-sale-totals-3256407/- Luxury stocks on the Iran deal (CNBC): https://www.cnbc.com/2026/06/12/luxury-stocks-lvmh-hermes-burberry-iran-war-peace-deal.html- 'Extreme' rotations (Bloomberg): https://www.bloomberg.com/news/articles/2026-06-12/-extreme-rotations-leave-stock-market-bulls-without-a-playbook- Pucci's revival (Business of Fashion): https://www.businessoffashion.com/briefings/luxury/the-formula-that-powered-puccis-revival/- Farfetch First (Business of Fashion): https://www.businessoffashion.com/articles/luxury/inside-farfetch-first-luxury-delivery-strategy/- AI identifies a lost Scottish masterpiece (Artnet): https://news.artnet.com/art-world/how-a-i-helped-identify-a-lost-scottish-masterpiece-2780288- Child damages a Magritte (The Art Newspaper): https://www.theartnewspaper.com/2026/06/11/child-damages-magritte-painting-with-pinecone- de Kooning drawings in Chicago (The Art Newspaper): https://www.theartnewspaper.com/2026/06/12/drawings-by-willem-de-kooning-the-last-old-master-take-centre-stage-in-chicago-showAlso from ALT/FNDATA:- Closing Price — Mon-Fri at 5 PM ET- Art Market — Tuesdays