Egypt revives plans for underwater museum
29 December 2015
The construction of an underwater archaeological museum in the Eastern Harbour of Alexandria in Egypt, first proposed in 1996, is back on the cards. Estimated to cost $150m, the museum would allow visitors to see the remains of palaces, temples and the Lighthouse of Pharos.
Back to business for billionaire collector
8 January
A deal made with the US Securities and Exchange Commission will allow the billionaire financier and art collector Steve Cohen to manage the money of outside investors in 2018. The deal overturns one of the major penalties imposed on Cohen’s hedge fund SAC Capital (now Point72 Asset Management) after it pleaded guilty to insider trading in 2013.
Work begins on Pompeii’s House of the Gladiators
8 January
Work to restore Pompeii’s House of the Gladiators has begun. The €81,000 project will partially rebuild the walls and reconstruct the frescoes of the building, which collapsed in 2010 after heavy rains. It was the first of several structures to crumble at the Roman site in recent years, leading to criticism of Pompeii’s management.
Teacher leaves $1.7m to Detroit Institute of Arts
12 January
A retired art teacher who spent 19 years volunteering in the gift shop of the Detroit Institute of Arts, left $1.7m to the museum in her will. Most of the money ($1.26m) has been set aside for the purchase of contemporary art. Elizabeth Verdow, who taught in the US public school system, died in 2014, aged 86.
Bust-up over sale of Picasso sculpture
12 January
Larry Gagosian and art advisers working for the Qatari royal family are embroiled in a legal dispute over the ownership of a 1931 Picasso sculpture bust of his mistress Marie-Thérèse Walter. Gagosian says he bought the work from the artist’s daughter, Maya Widmaier-Picasso, for around $106m in May 2015 and then sold it to a New York collector. But Pelham Holdings says it had already bought the work from Widmaier-Picasso in November 2014, for around $42m.
The Louvre restores another Leonardo
14 January
The Louvre is to restore Leonardo da Vinci’s painting of St John the Baptist (1513-16). The work is one of five by the artist in the gallery’s collection and the third to undergo cleaning in recent years. Four years ago, the Louvre was accused of overcleaning The Virgin and Child with Saint Anne (1503-19) and of brightening parts of the canvas that the artist intended to be dark.
Qatar puts football first, museums second
14 January
With falling gas and oil prices and a forecasted budget deficit, Qatar is cutting back on culture, including at Qatar Museums Authority, which has seen redundancies, the Financial Times reports. The 2022 World Cup and its billion-dollar bill for improved infrastructure are the priority in Doha as belts are tightened.
Mission possible: Tom Cruise funds restoration
16 January
The Italian government has announced a €30m plan to develop the Reggia di Caserta, near Naples, as a major museum complex. The 18th-century royal palace and Unesco World Heritage Site, known as Italy’s Versailles, is due to gain 15,000 sq. m of exhibition space. Meanwhile, the Italian newspaper Il Messaggero reports that the US actor Tom Cruise, who filmed scenes for Mission: Impossible III at the palace, has donated around €70,000 to restore the scenery in its court theatre.