Lévy Gorvy Dayan has launched LGD Hammer, a new sales platform that blends gallery exhibition with auction-style urgency. The first work offered is Willem de Kooning's *Milkmaid* (1984), estimated at $10–$15 million, which will be on view by appointment from May 2 until the sale on May 16. Gallery cofounder Dominique Lévy will serve as auctioneer, drawing on her Christie's experience, while bidding occurs by phone with online observation. Cofounder Brett Gorvy emphasized the platform is not a market overhaul but a response to slowed private sales and cautious collectors who still respond to competitive pressure.
This matters because it reflects a broader market reset: private sales have lost momentum, while auction houses have successfully used lower estimates and time-limited bidding to drive sales. LGD Hammer attempts to combine the careful consideration of a gallery viewing with the decisive pressure of an auction, potentially creating a new hybrid model for selling high-value art. The choice of de Kooning—a blue-chip artist with strong institutional support and steady Asian demand—signals that the market is favoring established names in the $10–$20 million range, where liquidity remains relatively strong.