Art and classic car auctions top $600 million despite Iran war
CNBC
Experts say the global turmoil may have even helped demand for rare collectibles, as the wealthy search for safe, long-term stores of value.
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Global collectors shrugged off the stock market declines and the war in Iran last week to spend more than $600 million on classic cars and fine art, signaling continued strength at the top of the economy.
Last week's art sales in London topped $550 million, up over 50% from last year, according to Sotheby's, Christie's and Phillips auction houses. Some works sold for more than twice their estimates and records were set for several artists, with bids pouring in from 40 countries.
Home sales made a small gain to start the year, but higher mortgage rates now could throw cold water on the spring season.
The move comes months after the Trump administration touted leucovorin as a potential therapy for a broader group of patients with autism symptoms.
Lego on Tuesday reported a 12% jump in revenue for fiscal year 2025 and reported consumer sales that far outpace the broader toy industry.
Live Nation, which owns Ticketmaster, reached a settlement with the Department of Justice over antitrust concerns.
A growing number of consumers are seeking out third spaces and membership clubs surrounding wellness, to improve their health while also socializing.
Vinay Prasad is leaving his post as director of the Center for Biologics Evaluation and Research.
Investors are scrutinizing the prospects for some drugs in the pipeline following a string of recent rejections from the U.S. Food and Drug Administration.
A closely watched barometer for used vehicle pricing jumped last month as dealers sped to increase inventories amid optimism of a robust spring selling season.
Gap has been on a steady upswing of growth but saw worse than expected results during its holiday quarter after historic winter storms led to store closures.
Frustrated sellers who pulled homes off the market last fall are now re-listing them at a quick pace, thanks to lower mortgage rates, but supply is still low.
Travelers who are far from falling missiles, drone attacks and other geopolitical flashpoints aren't immune to ripple effects.
Employers can use Lilly's platform to connect with different third-party program administrators that help manage obesity treatment benefits and costs.
Target's merchandising leaders previewed the company's ambitious plans to overhaul key categories, including home and apparel, at an investor meeting.