On Nov. 10 Christie's in New York will auction off an epic 15-ft. wide Jean-Michel Basquiat painting as part of its Post-War and Contemporary Art sale. The painting is expected to fetch up to $12 million. Brother Sausage (detail above), painted in 1983 and featured on the cover of Basquiat's catalogue raisonné, is a cartoon strip-like composition of six panels hinged together to form a narrative frieze of multiple drawings and Xeroxed overlays, each laden with themes of racial inequality and prejudice, wealth and corporate greed in a fame and consumer-obsessed American. Christie's notes the work is "steeped in Basquiat's signature style, raw energy and ingenious, loaded layering," exemplifying the artist at the pinnacle of his career. Also included in the auction are Andy Warhol's Tunafish Disaster, painted in 1963 and estimated at $6 - $8 million; and Jeff Koons' Large Vase of Flowers from 1991, estimated at $4 - $6 million.

[via JustLuxe]

On Nov. 14 Christie's will auction fine spirits in New York for only the second time since Prohibition began in 1920, headlined by the first U.S. offering of the extremely rare 1964 Bowmore Trilogy of single malts estimated at up to $24,000. Some $2 million worth of wines and spirits will cross the auction block, including over 40 lots of carefully-curated whisky, bourbon, cognac, armagnac, and rum, plus a fine crop of champagne. The Bowmore Trilogy, comprised of White, Black and Gold Bowmore, was matured below sea level for 42 - 44 years at the famed distillery on Islay in Scotland. Other lots include the Ardbeg Double Barrel, a two-bottle lot sourced from two 1974 whisky barrels in a bespoke leather shotgun case with eight solid silver cups, estimated at $15,000 - $20,000, and a 100 year old armagnac from Baron de Sigognac, est. at $2,000 - $3,000.

[via Duncan Quinn]

The past year has been exciting for fans of La Flor Dominicana. Between El Museo and the Salamones, Litto Gomez has released two of the most noteworthy cigars of 2009. While the rest of the industry has struggled with the effects of the recession, Gomez tells me that La Flor hasn't been hit (and that he is grateful for this fact). He cites the quality of his cigars and loyalty of his customers as reasons, but there's more to the story than that. There are plenty of great cigars on the market, and their smokers bring plenty of zeal to each purchase.

Beyond Litto's assessment, there are two reasons for La Flor's success this year: the new cigars and Litto himself.

This year hasn't been mind-blowing for new cigars. Doubtless, there have been some gems. The Avo Campanero certainly impresed, as Avo's annual limited edition cigar always does. And, Camacho has done a great job with the Room 101 and Connecticut sticks. The norm, however, has been silence, an obvious result in a tough economy. Litto made two bold moves with El Museo and the Salamon, bringing two expensive cigars to smokers at a time when they are less inclined to spend. Clearly, it worked.

An incredible property in the Hudson River Valley has come on the market at an extremely recession-friendly price. New York-based handmade furniture company BDDW is relocating to Philadelphia and putting their bucolic headquarters up for sale. The 147-acre property is located just north of New Paltz in Ulster County, and features two incredible stone barns totaling 30,000-sq.-ft., a 1,500 sq. ft. farmhouse and a creek, all for just $1.9 million. The stone barns were built at the turn of the century by architect Julian Burroughs for Colonel Oliver Hazard Payne, Civil War sharpshooter, democrat, wealthy industrialist and philanthropist, to house his thoroughbreds. They were subsequently used as a school for boys and passed back into private hands before BDDW acquired them.

[via A Continuous Lean]

The big numbers and grand auction centers around the world remain under pressure, but small local art scenes are finding ways to thrive. Like the small cap stocks that lead financial markets out of a recession, maybe it's the emerging artist and local art scene that will deliver us from this slump.

Grand Rapids hosted ArtPrize, a new art show this year, and it was so successful that the organizers are going to do it again in 2010. Businesses in town got a bump, and Grand Rapids was able to boost its cred as an art destination. The 18-day competition commenced on September 23, 2009 and drew tens of thousands of visitors to the Michigan city. Some restaurants ran out of food, because they weren't expecting such a large influx of guests. Doug Small, president of the Grand Rapids/Kent County Convention and Visitors Bureau, told The Associated Press, "Nobody had any clue this would happen."

The competition attracted 1,262 entries, varying in size, shape, style and medium. They were displayed in lobbies, on bridges, in parking lots and in the Grand River -- anywhere in town where they could find a place to exhibit. The winners were chosen by the voting public, using the event's website and text messaging, with 37,264 people participating.

The winner was Ryan Ortner of Brooklyn, New York, with the oil painting "Open Water No. 24, measuring 19 feet wide, taking first place, with Tracy Van Duinen taking second and Eric Daigh coming in third. Ortner lent his painting to the Grand Rapids Art Museum, which is going to display it until January.

Christie's is looking for a thrill on November 10, 2009. The auction house is sending an Andy Warhol portrait of Michael Jackson under the gavel, with a presale estimate of between $500,000 and $700,000. The piece, measuring 30 inches by 26 inches, is one of a small collection of silk-screens the King of Pop Art created of the King of Pop in 1984.

The Jackson piece is being sold by an anonymous collector in New York, according to Brett Gorvy, the deputy chairman of Christie's. The current owner purchased it from the Andy Warhol foundation sometime in the 1990s.

Forty-six lots will be auctioned along with the Jackson portrait, and there will be two other paintings by Warhol.

Back in August, a similar Jackson painting by Warhol was sold. The buyer chose to remain anonymous, and nobody will reveal the price ... except to say that it went for more than $1 million.

If you can survive buying or selling real estate in New York City, you can survive the process anywhere (well, maybe London and Tokyo would be rough). I've bought twice and sold once in NYC, and am pretty sure some of my gray hair arrived during those months. Recently I heard about BidOnTheCity.com, "eBay for Manhattan real estate." Intriguing! You can buy or sell, but unlike most other auction sites, you can only bid at a certain time, in person or online, Sundays at noon. Even brokers can get involved. Here's how it works. Read some press coverage here.

Oceana, an international nonprofit based in Washington, D.C. dedicated to protecting and restoring the world's oceans, celebrated the launch of Oceana New York on Monday night with a star-studded bash at the stunning penthouse of socialite philanthropists Alexander and Brenda Schweickhardt (above, far right). A tableaux vivant of mermaids entertained guests at the event, which was sponsored by Tiffany & Co., including Sam Waterston and Sue Cohn Rockefeller (above, far left), John Varvatos and wife Joyce (above, center) Jeff Goldblum, Gina Gershon, Tommy Hilfiger and wife Dee, New York Jets tackle Damien Woody, New York Gubernatorial candidate Rick Lazio, and socialtes Denise Rich, Bettina Zilkha and Jean Shafiroff. Since its founding in 2001, Oceana has achieved several major victories including protecting more than 640 million acres of ocean habitat.

Wedding guests are often sent to a Tiffany registry but this is the first time I've seen a registry for a Navy ship. The NY Times City Room blog reports that the the U.S.S. New York, which will be commissioned on November 7 has its own Tiffany registry. The U.S. S. New York includes more than seven tons of salvaged steel from the World Trade Center and it has some pretty pricey tastes. On the list are the sterling silver Chippendale tray ( $2,868.75) shown at right, a Queen Anne tea pot and a commemorative Riedel ice bucket as well as a full flatware service.

Why the registry? Naval ships often have "ship's silver" that is brought out for special and diplomatic occasions and usually a ship's silver is donated by a state or a corporation or a large entity. But for this ship, which is so much a part of New York City, the U.S.S. New York commissioning committee wanted to involve the people. Purchasers can engrave the name of a loved one on the silver pieces they buy. The newest U.S.S. New York will inherit some Tiffany pieces from the last U.S.S. New York battleship, which was built in 1911 and retired after World War II and from other previous ships that bore the name. These days state names refer to submarines, but former New York Governor George E. Pataki asked that the U.S.S. New York name be revived in 2002. The motto for the ship is "Strength forged through sacrifice. Never forget."

The registry was set up back in July but only around 20 of the more than 200 pieces have been purchased. The ship is an amphibious assault ship which will carry Marines. It will be based in Norfolk, Virginia. On November 2, the ship will arrive in New York City and it will stop in water near Ground Zero, lower its flag to half mast and fire a 21-gun salute. Some crew members who are from New York requested to be part of the first crew of the ship.

For 30 years Mr Chow (above) on East 57th Street in New York has been one of the city's most enduring hotspots, frequented over the decades by the likes of Andy Warhol, Jean Michel Basquiat, Calvin Klein, Madonna, Robert DeNiro, Tom Cruise, Uma Thurman and many others. To celebrate the anniversary and show their appreciation to its devoted clientele, the restaurant will present a complimentary bottle of Laurent Perrier Rosé champagne to each table from November 4th - December 15th. The 30th anniversary comes on the heels of the opening of Mr Chow's fifth location in Miami at the W South Beach. The New York branch opened in 1979 following the success of Michael Chow's restaurants in London and Beverly Hills.

[via JustLuxe]

If you were waiting for the bottom, it looks like you just missed it. Home prices in the Hamptons are on their way back up, rising 4.7 percent in the third quarter. Houses priced in the range of $2 million to $5 million led the charge. In fact, the number of properties clocking in at more than $2 million (including the former getaway of Ponzi schemer Bernie Madoff, which went for $9.41 million) jumped 44 percent -- 46 sales occurred from July through September this year. And, the median price for this part of Long Island increased from $860,000 last year to $900,000 this year.

The action appears to have been driven by buyers who'd normally look for something close to $10 million ... who began to see what they could get for a mere 20 percent of that price. When opportunity knocks ... you know the drill.

Even with this bit of good news, the number of homes sold last quarter fell 2.3 percent, with those fetching less than $500,000 posting the largest decline (22 percent). So, all isn't rosy in the land of the wealthy, unless of course, you're still wealthy.

Perhaps we should say especially in a recession. The Tycher Family Foundation, based in New York, strives to create a network of young professionals who share a common goal: to donate their time and money towards a worthy cause. The other night the Foundation threw an event at the hip new Bowery Hotel, dubbed "A Truly HAPPY Hour," benefiting Met Council, one of New York's largest human service agencies and an affiliate of UJA Federation of New York. Guests including the attractive trio above enjoyed gourmet hors d'oeuvres, sipped cocktails and bid on silent auction items such as VIP passes to the 2010 Mercedes-Benz Polo Challenge, tickets to an episode taping of Comedy Central's The Daily Show with Jon Stewart, a weekend in South Beach at the W Hotel, and a jaunt to Nantucket via private jet. Selecting one deserving charity each year, the Tycher Family Foundation hosts an exciting and memorable evening, underwriting 100% of the evening's costs to ensure that all revenue – from ticket sales to silent auction earnings – go directly to the chosen charity.

The list of the most expensive cities in the United States is now out, and unsurprisingly, New York has taken the top spot, with a cost of living that's double its closest follower. Of course, the financial crisis has put a bit of pressure on real estate prices and the cost of goods all over the country, but there are still some places that just cost a fortune.

New York: a two-bedroom luxury apartment (unfurnished) now costs a mere $4,300, off $200 from last year. And, there are other signs that the most expensive city is becoming less expensive, including the shuttering of Café des Artistes and the opening of our first J.C. Penney (ugh).

Los Angeles: this is where you go if you can afford only half the cost of living in New York. Unlike the most expensive city in the country, it makes sense to have a car out there, but get a nice one: you'll be spending a lot of time in it. LA has some of the longest commutes in the country.

Washington, D.C.: in this part of the country, take advantage of a 3.8 percent unemployment rate for the metro area. That's a hell of a lot better than the nationwide 9.8 percent (expected to break 10 percent early next year).

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The world's most accomplished Ponzi schemer -- right up until he got caught, that is -- finally lost his beach home. Bernie Madoff's Montauk house moved for $9.41 million, according to the U.S. Marshals Service, more than the $8.75 million for which it was listed. It sold on Friday, and the buyer is not being named. It only took a month to make the transaction happen.

Joseph Guccione, U.S. Marshal for the Southern District of New York, calls this "another step forward for the government," and though he didn't mention anything about the victims, one assumes that it's progress for them, too. After all, it would be nice if they got even a taste of this cash.

Several bidders tried to get their hands on Madoff's former home, which measures 3,000 square feet and has four bedrooms and three bathrooms. The losers can have another shot at Madoff glory, though, as properties in New York and Palm Beach, Florida, are listed. The former is on the market for $9.9 million, and the latter is listed for $8.49 million.

Madoff was unable to take a last walk through the halls of the Long Island residence, of course, because he's otherwise detained committed in Butner, North Carolina. But, he's adapting, having already thrown down on the block and earned himself some props.

In celebration of the 400th anniversary of Henry Hudson's first voyage up the Hudson River, the New York Historical Society has an exhibition of Hudson River School paintings running through March. In case you can't make it to the museum in person, they've also just published a book, The Hudson River School: Nature and the American Vision, featuring works from their incredible collection. In the first half of the 19th century, a group of painters working in New York City developed a distinctly American vision of the landscape. Their powerful interpretations of American scenery, which came to be known as the Hudson River School, "tell the story of how landscape imagery can shape both national and cultural identity." The book showcases more than a hundred of these images, many in full-page reproductions that convey the original paintings' monumental scale, and features work by all the greatest artists of the group including Albert Bierstadt, Frederic Church, Thomas Cole, Jasper Cropsey and Asher B. Durand.