Day: May 15, 2025
Hermès to Offset New U.S. Tariffs with Price Hikes Across All Product Lines
May 15, 2025 | New York – French luxury powerhouse Hermès announced today that it will implement an across-the-board price increase in the United States beginning May 1, aimed squarely at neutralizing the impact of recently imposed 10 percent tariffs on European imports. The move underscores Hermès’s unshakable confidence in its pricing power—and its commitment to
Sotheby’s Modern Evening Sale Stumbles as $70 Million Giacometti Bust Fails to Sell
On May 13, Sotheby’s Modern Evening Auction in New York delivered a surprising upset when Alberto Giacometti’s bronze bust Grande tête mince (Grand tête de Diego) failed to find a buyer despite a presale estimate of $70 million. The work opened at $59 million but saw bidding stall at $64.25 million before the gavel came down “passed,”