Art | December 20, 2021 5:45 am

Sales From Karl Lagerfeld Estate Auction Exceed Expectations

One part of the auction still remains

Karl Lagerfeld Estate
A black bust is displayed ahead of the German fashion designer, photographer, decorator and collector Karl Lagerfeld's auction sale "KARL, Karl Lagerfeld's Estate Part I" organised by Sotheby's auction house, with a scenography by Humbert & Poyet in Monaco, on November 26, 2021.
VALERY HACHE/AFP via Getty Images

It’s been almost three years since the death of acclaimed fashion designer Karl Lagerfeld. In late November of this year, Sotheby’s began a three-part auction of items from Lagerfeld’s estate with a high-profile event in Monaco. The second part of the auction took place last week in Paris — and, not unlike some other high-profile auctions as of late, more than a few items up for sale have been sold for far more than the auction house’s estimate.

As a recent article at ARTnews points out, the first part of the auction was estimated to make $3.4 million; instead, it made $13.3 million. It included illustrations and designs, along with artwork by the likes of Jeff Koons. The second part of the auction also featured a number of Lagerfeld’s illustrations — including one of a menu from Café de Flore in Paris, and one of a trio of women. Both sold for six-figure sums.

The article notes that clothes and accessories from Lagerfeld’s collection were among the items auctioned off. The Paris auction included a Chanel bag that sold for $107,000, setting a record in the process. A Dior Homme jacket estimated to sell for $1,125 sold for quite a bit more: $40,000.

The first two parts of the estate auction may be over, but the third part is still a few months away. It’s set to take place in Germany, and will be held next March.