Welcome back to Wall Power. I’m Marion Maneker.

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Gigaweek, with an estimated $1.25 billion worth of art on offer at the auction houses, is finally here! An incalculable amount of art is also on display at galleries and art fairs around the city right now. Artists and dealers are taking advantage of the presence of thousands of collectors, museum benefactors, art advisors, buyers, sellers, and scenemakers who have convened to take part in the action.

The atmosphere seems calmer than last year, when everyone was nervously wondering how far the market could fall. (There was plenty of premature bargain hunting when naive observers declared a “buyer’s market” long before sellers had reached a point of capitulation.) This season, despite there being even less art on offer, everyone seems to be in a more sanguine mood: Buyers seem resigned to the present vibe, while consignors are accepting much lower estimates, especially in the day sales, which could bring buyers back to artists who previously got overpriced.

I’ll have more on that below—including details on the Rosa de la Cruz sale. I’ve also been going through the art fairs to get a sense of what’s on offer in the private market, the largely unseen counterweight to the big auctions.

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But first…

• Christie’s and the terrible, horrible, no good, very bad weekend: On Thursday evening, Christie’s website started showing 404 errors for this week’s big sales, making the catalogs inaccessible to the numerous interested parties. By Friday, the entire website was down. It’s Sunday night, Christie’s has put up a workaround site here, and clients will soon receive an email from Christie’s C.E.O. Guillaume Cerutti telling them that the sales will...