Damien Hirst, Jeff Koons, and Naomi Campbell made their way through the VIP crowd, past the fleet of Bentleys, and toward the waiting helicopter.
‘Qatar’s oil boom created the world’s most extravagant art scene—and also led to its demise’
Quartz | August 24, 2016 | Mikolai Napieralski
When we talk about the art market, we are actually talking about an amalgamation of many varied sub-markets, each with their own specificities and fluctuations.
‘The 100 Most Expensive Artists at Auction’
Artsy | August 8, 2016
Magnus, an app promoted as “Shazam for the art world,” has run aground after it emerged that some of the data that powered the app, including art prices and images of artworks, was stolen from existing databases and from individual art galleries. Apple has pulled the free app from its store.
‘Magnus Art-Pricing App Pulled from Apple Store Amid Evidence of Extensive Data Theft’
Artnet | Brian Boucher | August 1, 2016
North Rhine-Westphalia’s purchase of Portigon’s collection for 30 million euros was probably more emotional than rational, but may still be the right decision.
‘Why do corporations collect art – and what should they do with it?’
Apollo Magazine | Alistair Hicks | JULY 28, 2016
Three top executives have left Christie’s: Paul R. Provost, the senior vice president and director of trusts, estates & appraisals; Nicholas Hall, international head of old master paintings and 19th Century Art; and Cathy Elkies, head of Christie’s 20th and 21st Century design.
‘An Exodus at Christie’s’
NY Times | ROBIN POGREBIN | JULY 28, 2016
WHAT do you do with 14 Christopher Wools?
And what if you want to exhibit them — or your four Bacons, 10 Warhols, four Lichtensteins and three Twomblys — alongside some of your 34 Renaissance and Baroque bronzes?
‘A Billionaire Is Opening a Private Art Museum in Manhattan’
NY Times | ROBIN POGREBIN | JULY 28, 2016
As some of the most expensive artists at auction, it would be wise to take a cue from Jeff Koons, Jasper Johns, Ed Ruscha, and Christopher Wool.
‘Your Ultimate Guide to Becoming a Famous Artist’
Artnet | Rain Embuscado | July 26, 2016
Artiquette is a series that explores etiquette in the art world.
‘Artiquette: 10 Mistakes Not to Make While Promoting Your Art’
Artnet | Sarah Cascone | July 26, 2016
When Istanbul art dealer Kerimcan Güleryüz decided to host a barbecue at his Beyoglu district gallery, Empire Projects, on the evening of Friday, July 15, it was not pegged to a particular exhibition or opening, but was more of an impromptu event.
‘How Political Instability in Turkey Negatively Impacted the Art Market’
Artnet | Eileen Kinsella | July 26, 2016
Swiss authorities seized a paintings by Vincent van Gogh and two by Claude Monet amid an investigation into Malaysia’s sovereign wealth fund.
‘Swiss Seize Paintings by Van Gogh and Monet in Malaysia Corruption Case’
Artnet | Henri Neuendorf | July 25, 2016
Authenticity is one of the most important properties of an artwork. After all nobody—in most cases—wants to buy a fake. However when the stakes are high, the process of authentication can be complicated, and fraught with difficulties—especially when the artist is dead.
‘Art Demystified: How to Authenticate a Contemporary Artwork’
Artnet | Henri Neuendorf | July 22, 2016
Returning for its ninth edition from September 15-18, Berlin’s homegrown art fair abc (Art Berlin Contemporary) has announced a considerably reduced list of participants for this year’s edition, scaling down from about 100 exhibitors from 17 countries in 2015, to only 60.
‘Art Berlin Contemporary Reduces Exhibitor Numbers for Its 2016 Edition’
Artnet | Henri Neuendorf | July 21, 2016
In keeping with the prevailing art market mood of “managing expectations” Christie’s released a report on July 20 showing that sales for the first half of 2016 totaled $3 billion (£2.1 billion), a 33 percent drop in US dollar terms and a 27 percent drop in British pounds. The comparable figure for 2015 was $4.5 billion (£2.9 billion).
‘Christie’s Reports Steep Drop in Sales for First Half of 2016’
Artnet | Eileen Kinsella | July 21, 2016
Sotheby’s released a report highlighting the strength of its sales in Asia for the first six months of 2016, noting the growing presence of Asian collectors in its salerooms around the world.
‘Sotheby’s Reports Half-Year Asia Sales Are Up 22 Percent’
Artnet | Eileen Kinsella | July 21, 2016
Megadealer Larry Gagosian’s empire is on the hook for a $4.28 million New York state tax bill, New York State Attorney General Eric Schneiderman announced yesterday, as reported by the New York Times.
‘Gagosian Gallery Will Pay $4.3 Million in New York Back Taxes’
Artnet | Sarah Cascone | July 20, 2016
Artiquette is a series that explores etiquette in the art world.
‘Artiquette: 10 Tips for Pricing an Artwork’
Artnet | Sarah Cascone | July 20, 2016
Following a press conference in Washington, D.C. this morning announcinga planned $1 billion asset seizure from troubled Malaysian financier Jho Low, the U.S. Department of Justice (DOJ) released detailed—and frequently mind-boggling—documents showing how hundreds of millions of dollars were inappropriately transferred from Low’s 1MDB fund, to personal accounts or unrelated business entities and in some cases, used to pay for tens of millions worth of art work.
‘Prosecutors Expose Jho Low’s Secret Schemes to Illicitly Acquire $137 Million in Art’
Artnet | Eileen Kinsella | July 20, 2016
New Yorkers pretty much have a love-hate relationship with the Metropolitan Transportation Authority (MTA), but hopefully that will get better under Governor Andrew Cuomo’s new five-year, $27 billion spending plan,announced on July 18.
‘MTA’s $27 Billion Spending Plan Will Bring New Art to 31 Stations’
Artnet | Sarah Cascone | July 19, 2016
Is there still a distinction between the museum and the art gallery? Over the last 10–15 years, the lines between institutions and commercial galleries has become increasingly blurred as mega-galleries expand to match institutions in funding, ambition, and size.
‘The Mega Galleries That Blur the Line Between Gallery and Museum’
Artnet | Henri Neuendorf | July 19, 2016
At a recent panel on the art market in Dallas, Hauser & Wirth partner Paul Schimmel said, “I think Jeff Koons turns those fabricators into his bitches and gets things that are unbelievable.”
‘Jeff Koons Lays Off Over a Dozen Staffers After They Tried to Unionize’
Artnet | Eileen Kinsella | July 19, 2016
The romantic image of the artist at work alone in the studio is largely inaccurate in today’s market-driven art world, where Jeff Koons‘s 11-foot-high balloon dog is followed by Louise Bourgeois‘s 10-foot spider outside of Christie’s before a big auction.
‘Art Demystified: Why Do Contemporary Artists Use So Many Studio Assistants?’
Artnet | Henri Neuendorf | July 14, 2016
Although sometimes thought of as the gallery equivalent of a gone fishin’ sign for an art world that largely shuts down after Art Basel in June, summer group shows, ranging from the serious to the irreverent, can prove lucrative for some galleries during the usually dry months of July and August.
‘Dealers cash in during summer months with lucrative group shows’
The Art Newspaper | July 13, 2016 | Dan Duray
Between markets in flux and Brexit, investors are looking for alternate ways to invest in tangible assets that don’t rely on the government. The growing trend in high net worth investing is to seek out asset classes with scarcity, like fine wines, antique cars, and real estate.
‘Why Invest In Art Now?’
Huffington Post | July 12, 2016 | Madelaine D’Angelo
A Frank Gehry house that is being billed as an “architectural connoisseur’s dream” and that sits on prime Malibu beachfront property is back on the market with an asking price of $33.9 million.
‘A Frank Gehry–Designed Malibu Beach House Can Be Yours for Just $33.9 Million’
Artnet | Eileen Kinsella | July 11, 2016
Art-law experts say they can’t recall anything like the lawsuit filed over a painting its owner says was done by Peter Doig, a piece Doig denies painting.
‘Artist sued for $5M over painting he insists he didn’t paint’
Seattle Times | July 9, 2016
The UK is on course to leave the European Union, after a narrow vote in favour of divorce in a referendum held two weeks ago on 23 June.
‘Brexit: what it could mean for the arts’
The Art Newspaper | JAVIER PES, MELANIE GERLIS, MARTIN BAILEY | July 6, 2016
ArtList, an online platform for anonymous secondary market sales of art, is ceasing operations. In June, during the week of Art Basel, a British art appraisal company was set to sign a deal to acquire the New York-based start-up but it went awry on the very day that it was meant to be signed. The next day, all five of ArtList‘s employees were let go, and the company summarily moved their belongings out of their shared office space at 356 Bowery.
‘ArtList, Startup for the Art World, Closes Shop Just as It Was Gearing Up’
Artiste | July 6, 2016 | Rozalia Jovanovic
After three decades of careful planning and a successful 16-day run, Christo and late wife Jeanne-Claude’s ambitious “Floating Piers” installation finally closed down on July 3.
For two weeks, a Northern Italian lake was transformed by 100,000 square meters of shimmering golden fabric supported by a floating dock system of 220,000 polyethylene cubes that undulated with the waves beneath the feet of visitors who, for the first time in history, could walk from the mainland to the islands of Sulzano, Monte Isola, and San Paolo.
‘Chunks of Christo’s ‘Floating Piers’ Already Flooding eBay’
Artnet | July 5, 2016 | Naomi Rea
The future of one of China’s most respected contemporary art institutions was thrown into uncertainty on Thursday as Guy Ullens announced his intention to shift ownership of not only his eponymous Beijing museum, Ullens Center for Contemporary Art (UCCA), but also the art collection he has amassed over the course of over 30 years.
‘What Will Guy Ullens’s Sale of the UCCA Mean for the Museum’s Future?’
ARTSY | FRANCES ARNOLD |JUL 1ST, 2016
A state museum in Munich returned Nazi-looted paintings to Nazi officials rather than the rightful owners after World War II, according to charges from a British NGO.
‘Munich Museum Allegedly Sold Looted Art Back to Nazis’
Weekly Standard | June 29, 2016 | ALICE B. LLOYD
A SWAT van spray painted by street artist Banksy has fetched more then £218,000 at auction.
‘Banksy’s spray painted SWAT Van fetches £218,000 at auction’
BBC News | June 29, 2016
Art Demystified is a series that attempts to shed light on esoteric aspects of the art world.
‘Art Demystified: What Determines an Artwork’sValue?’
Artnet | Henri Neuendorf | June 29, 2016
After months of uncertainty and speculation, Brexit is now a reality. The Great Britain has voted to leave the EU – the result that has left many of its residents fearing for the future awaiting.
‘BREXIT SHAKES UP THE ART INDUSTRY AFTER ALL’
Widewalls | June 27, 2016 | Elena Martinique
When New York’s Metropolitan Museum of Art hired Sree Sreenivasan as its first-ever chief digital officer in 2013, the move made headlines. So did his work in the three years that followed.
Sreenivasan, 45, who was previously a technology reporter and Columbia School of Journalism professor, brought the museum into the social media age: He led the creation of the museum’s first app, invited influential Instagrammers inside during closing hours to photograph the #emptyMet, and brought the Met’s collection online via a cleaner, mobile-friendly website.
‘The Met ousted a top executive, so he used Facebook to show the world how to do unemployment right’
Quartz | June 23, 2016 | Jenni Avins
BASEL, Switzerland — How many works by Alexander Calder are out there? Judging by what I saw at Art Basel last week, there seem to be hundreds, or we may be just looking at the acquisition habits of the 1%.
‘Hints of the Real World in Art Basel’s Elitist Bubble’
Hyperallergic | Ari Akkermans | June 22, 2016
Many reports have emerged of harsh labor conditions during the construction of museums on Abu Dhabi’s Saadiyat Island, but the cultural institutions involved are showing no interest in discussing these violations with leading human rights groups
‘Guggenheim and British Museum Refuse to Work with Human Rights Groups on Abu Dhabi Projects’
Hyperallergic | Claire Voon | June 22, 2016
Artsy continues its domination of the online art marketplace with the launch of new software that will allow collectors to bid in live sales at Phillips and Koller auction houses from June.
‘Artsy partners with Phillips and Koller auction houses on live bidding’
The Art Newspaper | June 20, 2016 | ANNY SHAW
As the art world descended on Switzerland this week for the 47th edition of Art Basel in Basel, the finance and business worlds continued to mull over the fact that one week from today, Britain may vote to exit the European Union.
‘What’s Sold at Art Basel in Basel’
ARTSY | JUNE 16, 2016 | ALEXANDER FORBES
Deloitte released the fourth edition of its report on the state of art and finance earlier this month. The 2016 Art & Finance Report comes at a time when investors and art market players alike are experiencing a softening in the markets. Yet several indicators show that we can remain bullish about the future of art as a viable asset class. Here’s what you need to know.
‘5 Things to Know about Investing in Art Right Now’
Artsy | May 31, 2016 | Alexander Forbes
Marginalized at first, street art and graffiti first appeared on American subways in the 1970s before reaching Europe in 1980s alongside hip hop music.
‘WHAT IS THE EFFECT OF STREET ART ON REAL ESTATE PRICES?’
Widewalls | May 30, 2016 | Elena Martinique