• Washington
  • Wall Street
  • A.I.
  • Hollywood
  • Media
  • Fashion
  • Sports
  • Art
  • Join Puck Newsletters What is puck? Authors Podcasts Gift Puck Careers Events
  • Join Puck

    Directly Supporting Authors

    A new economic model in which writers are also partners in the business.

    Personalized Subscriptions

    Customize your settings to receive the newsletters you want from the authors you follow.

    Stay in the Know

    Connect directly with Puck talent through email and exclusive events.

  • What is puck? Newsletters Authors Podcasts Events Gift Puck Careers

Dec 12, 2025   

Wall Power
Buccellati
Marion Maneker Marion Maneker

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

Tonight, we’re going on a voyage of discovery. It’s the centennial of Robert Rauschenberg’s birth, and instead of mounting a major museum event to celebrate one of the 20th century’s most provocative artists, his foundation has cooperated with institutions in Houston, Madrid, Hong Kong, Austria, and Germany. There have also been gallery shows in New York and Paris, as well as performances around the country.

But I wasn’t aware of that when a friend texted me last week, curious about Rauschenberg after reading an essay in The New Yorker. Together, we went on a journey, which I’ll describe below the fold.

Mentioned in this issue: Robert Rauschenberg, Andy Warhol, François-Xavier Lalanne, the Schur family, Frederic Remington, Albert Bierstadt, N.C. Wyeth, Charles Marion Russell, William Koch, Janis Joplin, Hilton Als, Jim Lewis, Marcel Duchamp, and many more…

A MESSAGE FROM OUR SPONSOR

Buccellati
Buccellati

But first…

  • Who bought the hippo?: François-Xavier Lalanne’s copper hippo bar sold for $31.4 million at Sotheby’s on Wednesday, a record for the artist and for a design work at auction. Naturally, attention quickly turned to the identity of the buyer. I heard all the usual suspects mentioned yesterday, but what was noteworthy was the consensus that the buyer was an American billionaire. Perhaps more important for the industry, one rival auctioneer was impressed that there had been four different bidders still going at it above $20 million.

    Of course, there was also speculation regarding the next major Lalanne work to come to market. My guess is we’ll see more works that previously made good prices come back to make better prices. For example, one of the edition of six ostrich bars, made in 1967, sold for $7.3 million in 2017; eight years later, another example sold in May for $12.6 million. If something like that happens, perhaps we will see another record.
  • Not your mother’s Tiffany…: The Schur family’s “magnolia” Tiffany floor lamp sold for $4.4 million yesterday at Sotheby’s. The lamp was the top lot in Sotheby’s sale of Tiffany works, which totaled nearly $8.2 million. The “medallion” window from a church in Topeka, Kansas, failed to find a buyer, but other Tiffany Studios objects sold well against their estimates.
  • Bill Koch’s $50M Western art collection heads to Christie’s: Featuring paintings by Frederic Remington, Albert Bierstadt, N.C. Wyeth, and Charles Marion Russell, billionaire William Koch’s Western art collection will be sold at Christie’s with a January 20 evening sale, followed by a day sale on January 21. The combined low estimate is $50 million, which, according to Christie’s, is twice the record for any previous American Western art auction.

Now, let’s get to Rauschenberg…

The Rauschenberg Chronicles

The Rauschenberg Chronicles

In celebration of the centennial of Robert Rauschenberg’s birth, two new museum shows in New York explore the work of an artist who always seemed both ubiquitous and somewhat forgotten.

Marion Maneker Marion Maneker

I’ve spent the past week trying to make sense of Robert Rauschenberg. It wasn’t on my list of year-end projects, but I recently found myself looking at the artist’s work for the first time in a while on the very cold and windy upper stretches of Fifth Avenue. A few weeks earlier, one of the most perceptive and on-trend art advisors I know had posted images from the Museum of the City of New York’s show of Rauschenberg’s photography, and from a special exhibition at the Guggenheim drawn from the museum’s own collection. I had only been vaguely aware that it was the centennial of Rauschenberg’s birth in Port Arthur, Texas—the same town that gave us Janis Joplin 18 years later.

I made a mental note that those might be good shows to see when things quieted down in early January. Then, somewhat out of the blue, I got a text from my friend Greg, an art world civilian who had read Hilton Als’s appreciation of Rauschenberg in The New Yorker. Inspired by the piece, he was planning a trip to see both shows with his wife and adult daughters. First, he wanted advice on a company that provided docent tours of museum shows; then, when his wife and kids bailed, I volunteered to go with him, half as a consolation to a fellow father whose wife and daughters often have better things to do, and half to share in the experience with someone who was becoming art-curious.

A MESSAGE FROM OUR SPONSOR

Buccellati
Buccellati

I wouldn’t call myself a huge fan of Rauschenberg’s work, but I am aware of some of the high points. For some reason, something Jim Lewis wrote about the artist when he died, in 2008, has always stuck with me. “He was one of those people—quick as a comedian, deft, and knowing—who seem to be effortlessly inventive, spinning off ideas and techniques like droplets of water from a lawn sprinkler,” Lewis wrote in Slate. “And there is hardly an artist working today who doesn’t owe him something.”

A Conceptual Leap

Following Marcel Duchamp, who is soon to have a major retrospective in New York and Philadelphia, Rauschenberg opened up what qualified as art. In his memorial essay, Lewis put it this way: “To Rauschenberg, almost anything could be art, and art could be almost anything. … [He] crossed media and created new ones as often as other artists clean their brushes.” Rauschenberg, whose work served as a precursor to pop art, confounded just about everyone when he asked Willem de Kooning for a drawing to erase, then presented the nearly effaced sheet as his own work of art. This kind of conceptual leap often turns off the uninitiated, but the idea that an artist could paint with images—one of Rauschenberg’s next innovations—didn’t bother Greg. In fact, he was immediately captivated, and had a lot of questions.

As we walked through the Guggenheim show, we lingered over one of Rauschenberg’s Red Paintings, from 1953-54, which he made after returning to New York from a second stint at the famed Black Mountain College. The painting features blocks of wood on the top and bottom, a gesture that allowed us to talk about the artist’s combines. Greg had read about Monogram—the goat with a tire around its middle standing on a painted, collaged surface—and he seemed to know about MoMA’s Bed, from 1955. The myth of that painting is that Rauschenberg had been living hand to mouth and lacking in art supplies, and that he woke up and painted on his bed. He may have used his quilt and pillow in the combine, but the painting is only 6 feet and 3 inches tall, and less than 32 inches wide, which means either Rauschenberg slept on a cot, or the bed is meant to be another example of capturing life as it is lived in his art.

The centerpiece of the Guggenheim show is Barge, from 1962-63, a 32-foot-wide work of art with black-and-white images silk-screened to the surface. Like many of the exhibition’s other works, it deals with Rauschenberg’s interest in found images. Barge itself is worth the trip to the Guggenheim, but the show also features a number of different ways in which Rauschenberg tried to adapt images from the “real” world into his art. There’s an example of one of his “revolvers”—a contraption holding five clear acrylic discs, printed with images in colors of cyan, yellow, and magenta. Although you’re not allowed to touch it, the Guggenheim displays the work with a push-button control box that rotates the discs to create different arrangements of the layered images.

Barge (1962-63), displayed at Robert Rauschenberg: Life Can’t Be Stopped, Solomon Guggenheim Museum, New York. Photo: Ariel Ione Williams/© Solomon R. Guggenheim Foundation

Barge (1962-63), displayed at Robert Rauschenberg: Life Can’t Be Stopped, Solomon Guggenheim Museum, New York. Photo: Ariel Ione Williams/Solomon R. Guggenheim Foundation

Greg wasn’t as fascinated with that work as I was. He wanted to talk about Rauschenberg’s process. Did he make sketches? What were the alternatives to the works we were seeing? I pointed out that the silk-screen technique Rauschenberg used—there’s a great example of a piece from when the artist switched to working in dye transfer—was also Andy Warhol’s signature style. And yet, the works look nothing like each other.

Buccellati
Buccellati

That brings up another issue with Rauschenberg’s stature. His art doesn’t often sell at auction, even if it sells very well in rare instances. Six years ago, Buffalo II, from 1964, was sold after 55 years in the same collection, for nearly $89 million. But that was an outlier. Most of Rauschenberg’s greatest works entered museum collections early. And a few works, like Rigger, from 1961, once owned by Sally and Victor Ganz, have seen their value slide: It was sold for nearly $12.3 million in 2017, but was auctioned for $8 million earlier this year.

Pictures of the Real World

In many ways, the Guggenheim show highlights one pole of Rauschenberg’s work—namely, the many ways in which he assembled images. But a short walk uptown, to the Museum of the City of New York, provided a window into a very different aspect of the artist. Rauschenberg, after all, was also an accomplished photographer; his first works to enter MoMA were photographs, and he continued to take pictures and use them in his art throughout much of his working life.

Since New York City is the museum’s subject, the exhibition, Robert Rauschenberg’s New York: Pictures of the Real World, focuses on his photography in the metropolis, although Rauschenberg took pictures everywhere. Greg, whose first love is music, noted how Rauschenberg riffed on his own images, spotting the way the artist scaled, flopped, and juxtaposed his work with familiar signs and symbols. Sometimes, Rauschenberg printed these images on aluminum and copper (though we don’t see examples of the latter), and he created light boxes that allowed him to layer images on clear sheets that roll down like shades in front of a light source.

The light boxes are particularly interesting. There are a couple more of them on view at the Gemini G.E.L. studio, at Joni Moisant Weyl gallery in Chelsea, which is holding a show of prints, lithographs, and cardboard works. There, too, you can see many more examples of the artist’s extraordinary range of ideas and experiments, including Booster, from 1967, a seminal collaboration between Rauschenberg and Gemini G.E.L.

I can’t think of another artist who seems to be both ubiquitous and somewhat forgotten. After touring these very different facets of Rauschenberg’s art and output, I came away conflicted. Was there no conventional retrospective because the artist had become less relevant or fallen out of favor? Or was this fragmented, distributed tribute in keeping with Rauschenberg’s protean artworks? Greg didn’t care about any of that. The afternoon had opened up a new way of looking at the world.

 

That will do it for today. On Sunday, we’ll have another great piece from our partners at Air Mail—this one an appreciation of Frank Gehry by the great Paul Goldberger. Look for it in your inbox that evening.

Until then,
M

Line Sheet

The ultimate fashion industry bible, offering incisive reportage on all aspects of the business and its biggest players. Anchored by preeminent fashion journalist Lauren Sherman, Line Sheet also features veteran reporter Rachel Strugatz, who delivers unparalleled intel on what’s happening in the beauty industry, and Sarah Shapiro, a longtime retail strategist who writes about e-commerce, brick-and-mortar, D.T.C., and more. 

The Grill Room with Dylan Byers & Julia Alexander

Finally, a media podcast about what’s actually happening in the media—not the oversanitized, legal-and-standards-approved version you read online. Join Dylan Byers, Puck’s veteran media reporter, and Julia Alexander, a longtime media analyst, as they sit down with TV personalities, moguls, pundits, and industry executives for raw, honest, sometimes salacious conversations about the business of media and its biggest egos. New episodes publish every Tuesday and Friday.

Puck
Facebook Twitter Instagram LinkedIn

Need help? Review our FAQ page or contact us for assistance. For brand partnerships, email ads@puck.news.

You received this email because you signed up to receive emails from Puck, or as part of your Puck account associated with {{customer.email}}. To stop receiving this newsletter and/or manage all your email preferences, click here.

 

Puck is published by Heat Media LLC. 107 Greenwich St., New York, NY 10006

SEE THE ARCHIVES

SHARE
Try Puck for free

Sign up today to join the inside conversation at the nexus of Wall Street, Washington, A.I., Hollywood, and more.

Already a member? Log In


  • Daily articles and breaking news
  • Personal emails directly from our authors
  • Gift subscriber-only stories to friends & family
  • Unlimited access to archives

  • Exclusive bonus days of select newsletters
  • Exclusive access to Puck merch
  • Early bird access to new editorial and product features
  • Invitations to private conference calls with Puck authors

Exclusive to Inner Circle only



Latest Articles from Art

Sotheby's Klimt
Marion Maneker • December 12, 2025
The Hot 50: Our Semiannual Market Temp Check
An excavation of the art market’s robust performance in the second half of 2025, with the latest (and greatest) data from ARTDAI. As you’ll see, the market is healthier and more varied than ever.
White Cube Gallery New York
Marion Maneker • December 12, 2025
Dye Hard & Humeau’s Bat Cave
Fresh from their holiday hibernation, New York galleries are once again buzzing with crowded openings and legendary works from the likes of Humeau, Pousette-Dart, Eggleston, and Flavin.
Steve Ivy Heritage Auctions
Marion Maneker • December 12, 2025
Condition Report: Steve Ivy, C.E.O. of Heritage Auctions
An eye-opening conversation with the auction house founder (and lifelong numismatist) on the explosion of the collectibles market, Heritage’s $2 billion year, and his middle-school obsession with coins.


Joan Semmel
Marion Maneker • December 12, 2025
Sex & The Single Artist
A career-spanning new exhibit of Joan Semmel captures an artist challenging conventional nudes, addressing women’s liberation, and making her own depictions of sexuality, aging, and herself.
National Gallery of Art
Marion Maneker • December 12, 2025
Washington’s Other Culture Wars
The Stars We Do Not See, a new show at the National Gallery, offers a reflection on the past and modernism that seems perfectly at home in the capital these days.
Money Painting
Marion Maneker • December 12, 2025
The Art-Backed Loan Crisis That Wasn’t
A recent column in the Financial Times tried to sound the alarm about an apparent crisis in the art loan business. But a close inspection of the data behind the story—and a survey of art loan business insiders—reveals a much more nuanced picture.


Sotheby's Art Auction
Marion Maneker • December 12, 2025
Is the Art Market Ready for a Bull Run?
With $5.4 billion in combined sales, 2025 was a pretty decent year for Sotheby’s, Phillips, and Christie’s, as well as the broader auction market. But a deeper analysis of sales across price ranges, average lot values, and the percentage of works sold below estimate may foretell what 2026 brings.


Get access to this story

Enter your email for a free preview of Puck’s full offering, including exclusive articles, private emails from authors, and more.

Verify your email and sign in by clicking the link we just sent.

Already a member? Log In


Start 14 Day Free Trial for Unlimited Access Instead →



Latest Articles from Art

Eduardo Costantini
Marion Maneker • December 12, 2025
A Match Made in Buenos Aires
How a family of Swiss industrialists helped deepen and redefine Argentina’s premier art museum, years after their deaths.
KAWS brian Donnelly
Marion Maneker • December 12, 2025
Kaws and Effect
After Covid zombified downtown San Francisco, SFMOMA director Christopher Bedford turned to an artist with a Warholian grasp of pop culture—and the ability to reengage both families and the tech set.
Reed Hastings
Mark Healy • December 12, 2025
Reed Hastings’ Mountainhead
Since stepping down as C.E.O. three years ago, Netflix co-founder and executive chairman Reed Hastings has largely devoted himself to philanthropy and Powder Mountain—his Utah ski resort that now includes an ambitious public art park and is changing the very notion of a mountain town.


Ken Goldin
Alex French • December 12, 2025
The Goldin Boy
The reigning king of collectibles is celebrating a third season of his Netflix show and a new stability in the collectibles and memorabilia market, which is better informed and more properly authenticated than ever. That doesn’t mean he’s above selling a Cheeto if there’s a market for it—especially if it makes for good TV.
Charles Stewart
Marion Maneker • December 12, 2025
Charlie’s Angels
It’s been a monumental year for Sotheby’s, which secured nearly $1 billion from the Emiratis, sold the Macklowe and Lauder collections, and made a new home on Madison Avenue. C.E.O. Charles Stewart sits down for a candid discussion about his auction house’s big year and the emerging Gulf market.
Helene Schjerfbeck Self-Portait with Black Background_1915
Marion Maneker • December 12, 2025
Helene of Finland
The new Helene Schjerfbeck show at the Met offers a rare opportunity to see the work of a truly important artist, whose significance was obscured only by the fact that she lived in a small country far from the center of culture.


Phillips Art Auction
Marion Maneker • December 12, 2025
Art’s $14B Goldilocks Year
In the space of a few short months, we’ve seen the public art market return not only to viability, but vibrancy—even if we’re only just returning to a baseline level of sales.
Get access to this story

Enter your email to get access to one article and free previews of our private emails from Puck authors and editors.

OR

Already a Member? Sign in



Latest Articles from Art

Jay Krehbiel
Marion Maneker • December 12, 2025
Condition Report: Jay Krehbiel, the Man in the Middle
Freeman’s, the ambitious Midwest auction house, is conquering the middle market between multimillion-dollar auctions and weekend estate sales. Herewith, executive chairman Jay Krehbiel opens up about his M&A pathway, the economics of undercutting the big houses, and the tension between operating locally and globally.
Faith Ringgold
Marion Maneker • December 12, 2025
History Is Written by the Gallerists
Three striking new gallery shows—Faith Ringgold, Richard Diebenkorn, and Julian Schnabel—show how gallerists work hard to steer perceptions and provide context to decades-old works. It’s harder than it looks.
Robert Rauschenberg
Marion Maneker • December 12, 2025
The Rauschenberg Chronicles
In celebration of the centennial of Robert Rauschenberg’s birth, two new museum shows in New York explore the work of an artist who always seemed both ubiquitous and somewhat forgotten.


Art advisors
Marion Maneker • December 12, 2025
The Art Advisor Justice League
Art advisors are a fairly recent phenomenon, and no one is showing how it’s done better than Patti Wong, Brett Gorvy, and Wentworth Beaumont. In this lively roundtable discussion, the three explain an advisor’s role in a murky market, how the back office operates, and why ambitious collectors need consultants now more than ever.
Francois Xavier Lalanne, Hippopotame Bar
Marion Maneker • December 12, 2025
Lalanne Jockeys
The latest offerings at Christie’s, Sotheby’s, and Phillips anticipate a still-strong design market, with a wide selection of works by Les Lalanne—including a multimillion-dollar hippo—leading the category alongside Tiffany, Giacometti, and the recently deceased Frank Gehry.
Design.Miami
Marion Maneker • December 12, 2025
50 Hours in Miami
A mid-December tour of Design.Miami, Art Basel, the New Art Dealers Alliance fair, and the ICA Miami opening revealed a steady flow of visitors, plenty of eager buyers, and an ostensible return to form for the city’s biggest annual art fair.


Sotheby's Art Auction
Marion Maneker • December 12, 2025
Two Weeks in November
A deep data-driven dive into the November sales and what they tell us about the art market’s “just right” moment.


  • Terms
  • Privacy
  • Contact
  • FAQ
  • Careers
© 2026 Heat Media All rights reserved.
Create an account

Already a member? Log In

CREATE AN ACCOUNT with Google
CREATE AN ACCOUNT with Google
OR YOUR EMAIL

OR

Use Email & Password Instead

USE EMAIL & PASSWORD
Password strength:

OR

Use Another Sign-Up Method

Become a member

All of the insider knowledge from our top tier authors, in your inbox.

Create an account

Already a member? Log In

Verify your email!

You should receive a link to log in at .

I DID NOT RECEIVE A LINK

Didn't get an email? Check your spam folder and confirm the spelling of your email, and try again. If you continue to have trouble, reach out to fritz@puck.news.

CREATE AN ACCOUNT with Google
CREATE AN ACCOUNT with Google
CREATE AN ACCOUNT with Apple
CREATE AN ACCOUNT with Apple
OR USE EMAIL & PASSWORD
Password strength:

OR
Log In

Not a member yet? Sign up today

Log in with Google
Log in with Google
Log in with Apple
Log in with Apple
OR USE EMAIL & PASSWORD
Don't have a password or need to reset it?

OR
Verify Account

Verify your email!

You should receive a link to log in at .

I DID NOT RECEIVE A LINK

Didn't get an email? Check your spam folder and confirm the spelling of your email, and try again. If you continue to have trouble, reach out to fritz@puck.news.

YOUR EMAIL

Use a different sign in option instead

Member Exclusive

Get access to this story

Create a free account to preview Puck’s full offering, including exclusive articles, private emails from authors, and more.

Already a member? Sign in

Free article unlocked!

You are logged into a free account as unknown@example.com

ENJOY 1 FREE ARTICLE EACH MONTH

Subscribe today to join the inside conversation at the nexus of Wall Street, Washington, A.I., Hollywood, and more.

START 14-DAY FREE TRIAL

  • Daily articles and breaking news
  • Personal emails directly from our authors
  • Gift subscriber-only stories to friends & family
  • Unlimited access to archives
  • Bookmark articles to create a Reading List
  • Quarterly calls with industry experts from the power corners we cover