Lévy Gorvy Dayan launches single-work auction model

Lévy Gorvy Dayan (LGD) held its first LGD Hammer event, auctioning a single work—Willem de Kooning's Milkmaid (1984)—to a select group of bidders with a minimum $10m entry. Co-founder Brett Gorvy framed the initiative as a response to client needs: sellers gain more attention and transparency by avoiding crowded evening sales and hidden intermediaries, while buyers enjoy competition and VVIP exclusivity. The gallery takes a 16% commission. Gorvy noted that his and Dominique Lévy's auction-house backgrounds are now seen as a strength. The move reflects a strained market where galleries, auction houses, and dealers are blurring traditional roles—Pace Gallery recently partnered with dealer Emmanuel Di Donna and Sotheby's private sales guru David Schrader. Gorvy acknowledged that adapting is essential in a market where reluctant sellers and selective buyers increasingly dictate terms.