Art market

Art marketinterview

From Taiwanese white goods entrepreneurs to the Nanking shipwreck cargo: Colin Sheaf on the meteoric growth of the Asian auction world

As the Chinese art specialist steps back at Bonhams, he reflects on 50 years in the auction world as it went from provincial to global

New York gallery The Hole opening Los Angeles location just in time for Frieze

It joins a half-dozen galleries with designs on opening West Coast outposts, from megas like Pace and Sean Kelly to smaller spaces like Sargent's Daughters

The rocky authority of the artist in authentication disputes: who gets the final say?

The authentication of a nude by Lucian Freud—despite his protestations that he did not paint it—highlights how creators are not always listened to

First Frieze Los Angeles since pandemic began opens this week in new Beverly Hills venue—minus a sculpture park

Organisers and galleries are banking on “pent-up desire” to make this year’s edition a success

Van Gogh’s depiction of two lovers—sliced out of a landscape painting—comes up for sale

Sotheby’s will auction the surviving picture of the strolling couple on 2 March, estimated at £7m-£10m

a blog by Martin Bailey
NFTnews

Eternal return: Italian museums to sell digital copies of masterpieces by Leonardo, Caravaggio and Modigliani

Replicas of works from four institutions, including the Uffizi, will be sold as NFTs by Unit London gallery

Art marketcomment

Insurance in the age of global warning: how to protect your art against flooding and extreme weather events

As sea levels rise, so do insurance premiums. Here, an insurance lawyer advises on how collectors can best look after their works as natural disasters and wildfires become more common

Paris fairs musical chairs: Fine Arts Paris and La Biennale to merge into one event

The new combined art and antiques fair will run for the first time this November

Music festivals, mezcal bars and moderate price points: Zona Maco spearheads lively marquee art week in Mexico City

The week’s calendar of events is chock-full of parties and openings, and features a new local mini-fair

With pop-up rents on the rise, formerly nomadic Guts Gallery opens permanent space in Hackney

The London gallery has made a name for championing underserved voices in the art world and will open its new space with Morris dancers and the "smell of Yorkshire"

Pensioners revolt: Patrick Drahi winds up Sotheby’s ‘defined benefit’ pension plan, and former employees are not happy

Ex-staff are now considering legal action, claiming they were not kept informed of changes to the scheme

NFT market is vulnerable to money laundering, according to US Treasury study of the art trade

While the study concedes there are some nefarious financial dealings in the art market, there are more immediate concerns and regulatory manoeuvres to take

Banksynews

Fate of Banksy in Welsh town Port Talbot hangs in the balance

Mural of child playing in ash removed from view after three years, just days after the actor Michael Sheen described the display as “uninspiring”

Journalism or doxxing? News report reveals secret identities of Bored Ape NFT founders—and the crypto community is not happy about it

The Buzzfeed News journalist Katie Notopoulos has named Greg Solano and Wylie Aronow as the men behind the online pseudonyms "Gordon Goner” and “Gargamel”

How auction houses became the big winners of the pandemic

With the forced shift to online sales due to Covid-19 restrictions, global sales at Sotheby’s, Christie’s and Phillips boomed in 2021, with an increased focus on luxury goods as the rich get richer

Sotheby’s and artist Kevin McCoy sued over sale of early NFT

The dispute revolves around the movement of a 2014 work, ‘Quantum’, from one blockchain to another and how that affects its ownership and fungibility

Two Latin American galleries expand into a shared space in New York

“For Latinos to be able to compete, we have to work together. It’s completely natural, it’s a part of the Latino experience,” says Omayra Alvarado, one of the founders of the Colombian gallery Instituto de Visión

Art Basel in Paris: an earthquake in the fair landscape

Fiac's eviction from the Grand Palais came as a shock to the French gallery scene—what was behind the move?

Bored Ape NFT founders seek $5bn funding from Silicon Valley investor

The secretive crypto collective Yuga Labs is reportedly in talks with venture capital firm Andreessen Horowitz to sell a multi-million dollar stake

Pace expands West Coast footprint, merges with the Los Angeles gallery Kayne Griffin

The merger continues a trend of mega-galleries expanding their presence in California

Florence Bourgeois is named director of Fiac and Paris Photo fairs

She will replace Fiac's former director of 18 years, Jennifer Flay, who is rumoured to be joining Art Basel as it prepares to launch a new Paris fair in the Grand Palais—the Swiss company has declined to comment

Dutch auctioneer to publish first catalogue raisonné of Banksy’s street works—but does it pose a conflict of interest?

Hessink’s will auction three of the British street artist’s outdoor pieces next month in Amsterdam, though none have been authenticated

New York gallery faces multi-million-dollar lawsuit over a Rothko’s mystery provenance

The lawsuit claims the Manhattan gallery Edward Tyler Nahem Fine Art is refusing to divulge the seller of 'Untitled (Red, Yellow, Blue, Black and White)' (1950), which has left the provenance incomplete and the painting unsellable

Pandora Papers reveal 1,600 works of art 'secretly traded' in tax havens

The art reportedly includes "more than a dozen" works by Banksy bought by the London-based financier, Maurizio Fabris, via an offshore trust in New Zealand since 2009

Art marketcomment

Botticelli: my worries about the Man of Sorrows

The painting, sold last week at Sotheby's for $45.4m, was listed among workshop and studio pictures in Ronald Lightbown’s 1978 catalogue of Botticelli’s work, before being included as an autograph work in an exhibition at Frankfurt's Städel Museum in 2009. Here, in a pair of opinion pieces, two Renaissance experts give their contrasting views on its attribution

Art marketcomment

Botticelli's 'stunning and puzzling' Man of Sorrows

The painting, sold last week at Sotheby's for $45.4m, was listed among workshop and studio pictures in Ronald Lightbown’s 1978 catalogue of Botticelli’s work, before being included as an autograph work in an exhibition at Frankfurt's Städel Museum in 2009. Here, in a pair of opinion pieces, two Renaissance experts give their contrasting views on its attribution

A career-spanning, six-venue exhibition of the painter Rochelle Feinstein’s work opens in galleries across the US and Europe

The multi-venue show reflects the artist’s kaleidoscopic practice and proves there’s an organic way for mid-size galleries to put on a global exhibition

Phillips taps into demand for contemporary Ghanaian art with selling exhibition

Birds of a Feather, held in collaboration with the Ghanaian company Artemartis, will run next month at the auction house's Berkeley Square headquarters in London

Art Cologne director takes to Instagram to criticise rival Art Basel’s ‘colonialism’

Daniel Hug posted that the Swiss company "is only interested in making money and keeping Art Basel the number one fair worldwide"