Karl Lagerfeld was an icon of the fashion world and pop culture in the course of his life, and was admired and celebrated for his ingenuity as a designer, his often biting humour and his inimitable way of self-presentation. On 19 February 2019, Lagerfeld died of complications from cancer at the age of 85 in Neuilly-sur-Seine near Paris.
When the estate of an icon is auctioned, it can be difficult for the auction house to decide the estimates for the individual lots. Due to its association with a larger-than-life figure, the objects' worth is entirely subjective.
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For example, the first of the two live auctions dedicated to Karl Lagerfeld's estate (there were also two online auctions), which took place in Monaco and attracted more than 1,000 bidders, achieved around €12 million against an estimate of €3 million.
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Though not every lot of the four auctions found a new owner, most of them surpassed their estimated price. For example, at the second live auction in Paris, a black jacket from Dior Homme's 2008 winter collection, which also included a pair of fingerless gloves, fetched €35,280 (including premium and fees) against the estimated €500-1,000.
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In the same auction, a record was set for a handbag by Chanel that Lagerfeld had carried on a visit to the FIAC art fair in 2011. €94,500 (including buyer's premium and fees) was paid for it; the estimated price was between €2,000 and €4,000, making it the most expensive Chanel bag sold at auction.
The most astounding price increase was for four notebooks with fashion drawings, which the designer had used around the year 2000. Estimated at €500-800, the unique piece of fashion history was finally sold for €315,000 (including buyer's premium and fees).
More news from the auction market can be found in Barnebys Magazine
