• Most of Russia’s art world supports Ukraine’s independence. But that hasn’t stopped them from feeling the effects of Putin’s decision to invade the country.
• Sales at Russian galleries have dropped off amid ongoing uncertainty and news of new sanctions against Russia. Many in Moscow’s art world fear that they will face boycotts from museums in the West in response to their leader’s actions.
• The rare “All-Star Café Wagner” is going up for auction for the first time in almost a decade. Its backstory will likely lead it to sell for somewhere in the seven-figure range.
• The card was loaned out by Charlie Sheen to the All-Star Café in New York. One of the chefs stole the card from the display case and sold it to a sports card dealer with a fake backstory. The FBI got involved and the card was returned.
• Last week was going to be a historic moment: Sotheby’s planned to auction 104 CryptoPunks in one lot worth up to $30m. Then, just minutes before the sale was slated to start, the owner pulled the work.
• The owner of the Punks, which were bought in a single blockchain transaction, announced the decision on Twitter: “nvm, decided to hodl.” Mentions of the lot quickly disappeared from Sotheby’s website.
• Fun Fact: When works are pulled from auction at the last minute, it’s usually because there’s no interest. Some experts think the owner saw the plummeting value of crypto and didn’t want to risk a market correction.
• This week in the Otis Discord, we’re talking about: Chromie Squiggle #2241, buyout offers, and more — join the conversation.
New drops open every week for as little as $1/share. Subscribe to stay updated.