As the property-gathering season proceeded over the past few months, one could’ve easily imagined sellers going into hibernation. Why take the risk of consigning when each week seemed to bring a new destabilizing event, including the Minneapolis standoff with ICE, tariff gridlock, an unexpected war, and market sell-offs? Yet the property nevertheless came in—mostly from estates that presumably have to address tax obligations. But there have also been some very important discretionary sales, including the $462 million consignment from the Newhouse family that I wrote about yesterday. Suddenly, the very top of the art market is back in a very big way.