The hot list: highlights from Sotheby’s Important Design auction


Selina Denman
  • English
  • Arabic

The Sotheby’s Important Design auction took place in New York on Tuesday and featured some truly exceptional pieces. Here were some of the highlights.

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A rare chair

Severe geometric forms were a signature of the famed Scottish architect, designer and artist Charles Rennie Mackintosh. This exceptionally rare side chair was commissioned for the White Bedroom of Hous’hill in Glasgow, one of Mackintosh’s most famous projects, circa 1904, and is crafted from ebonised sycamore with a canvas upholstery seat.

• Charles Rennie Mackintosh side chair, sold for US$576,500 (Dh2.1 million)

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Ship shape

The auction was led by the sale of eight panels that once adorned the grand salon of the SS Normandie. The legendary but ultimately ill-fated ocean liner entered service in 1935 as the largest and fastest passenger ship on the seas, and was famed for her lavish interiors. The aforementioned panels were crafted by French artist Jean-Théodore Dupas and acquired in 1981 by Malcolm Forbes. They went on to be the centrepiece of the main entrance of the Forbes Galleries on Fifth Avenue in New York for close to 30 years.

• Panels from the Birth of Aphrodite mural, sold for $1,392,500 (Dh5.1 million)

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Light relief

This floor lamp by Flavio Poli was designed in 1958 for the XXIX Biennale in Venice. Poli was an Italian artist best known for his work with glass, which here is combined with steel to create a vibrant 109.2-centimetre-high floor lamp. Poli’s original drawing was sold along with the lamp.

• Flavio Poli floor lamp, unsold

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Sheep shape

Best known for his surreal animal sculptures, François-Xavier Lalanne produced objects that blurred the distinction between fine and decorative art. He rejected the abstract styles popular in the mid-20th century and instead focused on creating vivid representations of the natural world. Mouton Transhumant, which is made from epoxy stone and patinated bronze, is an obvious case in point. This particular piece is No 100 in a limited edition of 250.

• Mouton Transhumant, sold for $187,500 (Dh689,000)

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Surreal steel

The fluid, sculptural lines of the Lectori Salutem desk belie the fact that it is crafted from stainless steel, traditionally a most rigid of materials. The piece was designed in 2010 by Dutch designer Jeroen Verhoeven, co-founder of the Demakersvan design house. It is No 3 in a limited edition of 10.

• Lectori Salutem, sold for $187,500 (Dh689,000)

Red Joan

Director: Trevor Nunn

Starring: Judi Dench, Sophie Cookson, Tereza Srbova

Rating: 3/5 stars

How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

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The biog

Born: near Sialkot, Pakistan, 1981

Profession: Driver

Family: wife, son (11), daughter (8)

Favourite drink: chai karak

Favourite place in Dubai: The neighbourhood of Khawaneej. “When I see the old houses over there, near the date palms, I can be reminded of my old times. If I don’t go down I cannot recall my old times.”

UAE currency: the story behind the money in your pockets
Multitasking pays off for money goals

Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.

That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.

"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.

Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."

People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.

"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The team

Photographer: Mateusz Stefanowski at Art Factory 
Videographer: Jear Valasquez 
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory 
Model: Randa at Art Factory Videographer’s assistant: Zanong Magat 
Photographer’s assistant: Sophia Shlykova 
With thanks to Jubail Mangrove Park, Jubail Island, Abu Dhabi 

 
RACECARD

6pm Emaar Dubai Sprint – Conditions (TB) $60,000 (Turf) 1,200m

6.35pm Graduate Stakes – Conditions (TB) $100,000 (Dirt) 1,600m

7.10pm Al Khail Trophy – Listed (TB) $100,000 (T) 2,810m

7.45pm UAE 1000 Guineas – Listed (TB) $150,000 (D) 1,600m

8.20pm Zabeel Turf – Listed (TB) $100,000 (T) 2,000m

8.55pm Downtown Dubai Cup – Rated Conditions (TB) $80,000 (D) 1,400m

9.30pm Zabeel Mile – Group 2 (TB) $180,000 (T) 1,600m

10.05pm Dubai Sprint – Listed (TB) $100,000 (T) 1,200m