Reactions to story from International Herald Tribune

• 

  This week's Art Collecting and Investment News

  http://art2bank.com/art_investment_market/current-market-con...
  135 days ago in Art2Bank: The Art of Patronage and Investment · Authority: 10

  This week's Art Collecting and Investment News Posted on May 25, 2008 at 7:42 PM by Tracy Frost. Sunday, 25th May 2008 The Week Ahead: May 25-31 On Friday the INSTITUTE OF CONTEMPORARY ART in Boston will open the first museum survey of Anish Kapoor's work in the United States in more than 15 years, with 14 works he has made since 1980 (10 of which have never been shown in the states before). New York Times - United States Playing to the gallery For the first six months of its existence, Khumalo ran the gallery solely on sales profits. But after struggling to cover expenses, "I decided to add the restaurant and live poetry to draw in the people who wouldn't normally even consider going to a gallery. Since then, more people have been spending time here." The Times - Johannesburg,Gauteng,South Africa London's St. Pancras station has a new interactive art 'gallery' passengers get their last taste of British cultural life before boarding the high-speed train to Paris or Brussels. While seated at glass-topped coffee tables that also serve as interactive computers, passengers can project images of masterpieces from London's National Gallery onto facing walls. Los Angeles Times - CA,USA New Peaks Reached in the American Art Market at Christie's New York NEW YORK.- Christie's Spring 2008 Important American Paintings, Drawings and Sculpture sale totaled $72.6 million and set new records and established major new benchmarks across the category. Art Daily - USA Balancing Art and Business In the last six months alone, there have been openings for directors at more than two dozen major American art museums, including theMOMA, the Dia Art Foundation in Manhattan; the Kimbell Art Museum in Fort Worth; the Minneapolis Institute of Arts and more. New York Times - United States Lynda Howitt - Wind Beneath My Wings Opens in New York NEW YORK.-'Wind Beneath My Wings' is the first international exhibition featuring paintings by award winning Australian emerging contemporary artist, Lynda Howitt, offers New Yorkers an opportunity to experience the famed charms of the Australian landscape without leaving the city from June 17 Art Daily - USA Saturday, 24th May 2008 Asian art records tumble at Christie's HK sale HONG KONG - A work by Chinese artist Zeng Fanzhi sold for $9.5 million on Saturday, a new auction record for an Asian contemporary artwork, at auctioneer Christie's first evening sale of such art in Hong Kong. Reuters - USA Tom Thomson sketch sells for $1.15 million A small Tom Thomson oil sketch sold for $1.15 million Thursday night at the Heffel Fine Art Auction House's spring sale at the Vancouver Convention Centre, the highlight of an $11.5 million auction. Vancouver Sun - British Columbia, Canada Art.view Klimt of the rubbish bin AFRICAN contemporary art rarely comes up for sale at the big auction houses. However, Sotheby's achieved some success in 1999 when it sold a few treasures from Jean Pigozzi, who holds the world's biggest private African contemporary-art collection. Economist - UK Paintings by renowned Canadian artists net record prices at Heffel ... Frederick Horsman Varley and A.Y. Jackson sold for more than half-a-million dollars each. Also "Norma," one of the largest works on sale at 101 by 83 centimetres, sold for $600,000, beating a previous Varley record of $550,000. The Canadian Press - VANCOUVER Police seize 'child porn' art from Sydney gallery Is it art or pornography to exhibit photographs of naked 12- and 13- year-old girls? That perennial debate was reignited in Australia yesterday, and police swooped on a Sydney gallery displaying works by the internationally renowned artist Bill Henson. Independent - London,England,UK Saving art from the elite's clutch Dubai-based Art Select works with the mission of taking art to the middle classes, an idea never explored before. "When we began to invest in art, we wondered why it had to be restricted to the domain of the high-end customer," says Amitabh Subberwal, founder and CEO of Art Select. Times of Oman - Ruwi,Muscat,Oman Rugged Cowboys, Vistas Fetch $64.2 Million in Western Art Sales At Christie's, an 1878 Thomas Moran landscape, ``Green River of Wyoming,'' stunned the crowd, tripling a $5 million high estimate and selling for $17.7 million. It was the highest price ever paid for a 19th-century American artwork at auction, Christie's said. Bloomberg - USA It's a triumph of the philistines BILL HENSON must bitterly regret his decision to use a photograph of a pubescent, bare-breasted girl on the invitation card for his exhibition at Roslyn Oxley9 Gallery. To the rest of the world Henson is not simply one of Australia's best-known artists - he is the undisputed Numero Uno. Sydney Morning Herald - Sydney,New South Wales,Australia Gallery Goers David Ross, a former director of the Whitney Museum of American Art and the San Francisco Museum of Modern Art, has become a partner in Albion with Michael Hue-Williams, while Robert Fitzpatrick, most recently director of the Museum of Contemporary Art Chicago, has been named international managing director of Haunch of Venison. ARTINFO - New York,NY,USA Exhibition was art, not pornography His images may take the viewer to an edge, to an uncomfortable place, like great music or great literature with a broad field of possibilities. Art and pornography are entirely separate things. It is an art gallery's job to deal with art, whether it is by Michelangelo, Caravaggio, or Bill Henson. The Australian - Sydney,Australia Investments: maritime art The art market appears to be unaffected by the financial crisis gripping the nation. Perhaps it's because those with a higher disposable incomes can easily absorb the growing costs of fuel and food, or perhaps because in difficult times people draw comfort from beautiful things. Whatever the reason, returns in the maritime art market are expected to swell by 15 per cent on 2007. Telegraph.co.uk - United Kingdom Friday, 23rd May 2008-05-25 What Does $33.6 Million Mean in the Art World? Olav Velthuis, author of Talking Prices: Symbolic Meanings of Prices on the Market for Contemporary Art and David Galenson, University of Chicago professor of economics and author of Old Masters and Young Geniuses, about the sale and what it really means for the art world. New York Times Blogs - New York,NY,USA Stolen 'Scream' back on display (CNN) -- Edvard Munch's masterpiece, "The Scream," went back on display Friday in Oslo, Norway. It has been four years since thieves pulled the painting from its frame in a daring armed robbery and the Munch Museum is displaying "The Scream" alongside another work that thieves stole in 2004. CNN International - USA 1 2 3 4, art is at your Gap store Murakami has argued that the idea of authenticity in art, and the lines it draws between art and design, original and fake, are Western constructs, destined to lose place in an increasingly globalized art world. Toronto Star - Ontario, Canada Fresh off the boat The key factor in this process has been scaling up the quality, diversity and pedigree of artists being brought over. Picasso, Freud and Bacon all came courtesy of Vadehra Art Gallery in New Delhi, which, since 2006, has been swapping art with London's Grosvenor Gallery. Livemint - Delhi,Delhi,India 14 UAE students to visit 'Art Basel' Selected from the Zayed University, the American University in Sharjah, the American University in Dubai, the Sharjah University, and the Dubai Women's College, the Emirati student delegation will leave for Switzerland on June 3. Trade Arabia - Manama,Bahrain daman commissions emirati and middle eastern art for 'the ... Dubai: Daman Investments today announced that it has commissioned Emirati and Middle Eastern artists to create a significant number of artworks for its prestigious 'The Buildings by Daman' project at the Dubai International Financial Centre (DIFC). Al-Bawaba - Amman,Jordan Rachofskys to sell Koons sculpture to sharpen focus on core ... Neo-pop American artist Jeff Koons' 6-ton sculpture Balloon Flower (Magenta), 1995-1999 will be auctioned June 30 in London at Christie's. It is the most valuable work by the artist ever to be offered in Europe, it will be displayed in St. James's Square in the heart of London beginning June 21. Dallas Morning News - Dallas,TX,USA WEBTV- Jeff Koons on the Roof http://www.newarttv.com/ Jeff Koons Sculpture May Fetch 12 Million Pounds at Christie's May 23 (Bloomberg) - A Jeff Koons sculpture will be the most valuable work by the artist offered at auction in Europe when it goes on sale at Christie's International in London next month, the auction house said today in an e-mailed statement. Bloomberg - USA Georgia Artist's Work Takes Center Stage At New World Of Coca-Cola His work has been commissioned by prominent corporate and private collectors around the nation, including The Coca Cola Company. Penley was selected as the official artist of the G-8 Summit on Georgia's Sea Island in 2004 and an official commendation from the Georgia State Senate in 2005. The FINANCIAL - Tbilisi,Georgia Conversation with Clare McAndrew Art has had a low correlation with other financial sectors and property, so the art market should stay buoyant in coming years, despite what's happening in other markets. An important point, given the credit squeeze, is that art is probably the least leveraged of all the asset classes. People don't generally go out and get a loan to buy art. ARTINFO - New York,NY,USA The Art Trading Fund: Getting Desperate " I buy new art and 90 percent of the art I buy will probably be worthless in 10 years' time to anyone except me." He's right. Saatchi has certainly been a successful art collector. However, he would probably have made more money if he'd simply sat on the Warhols he bought with his ex-wife Doris, rather than selling them just before the market in Warhol started exploding. African Artists Lure Collectors, Fail to Make Auction Circuit ``The market will develop eventually,'' Jean Pigozzi, the world's leading collector of African contemporary art, said in a telephone interview. ``But it really has to come from local collectors, or if rich African Americans start to buy this material, it could also become big.'' Bloomberg - USA Record prices paid at Vancouver art auction VANCOUVER -The spring auction season kicked off in Vancouver Thursday night with several record-breaking sales as Heffel Fine Art Auction House held its Fine Canadian Art sale. Sales totalled $11.5-million. But the evening was not without its disappointments. Globe and Mail - Canada As Koons Prices Balloon, His Dallas 'Flower' Will Be Sold Koons made five "Balloon Flowers," each in a different color. A blue one sits outside the headquarters of DaimlerChrysler in Berlin; a yellow version is owned by François Pinault, the luxury goods magnate and owner of Christie's and Koons himself owns a red one that has been on view since 2006 in a fountain in front of 7 World Trade Center in New York. A fifth, in orange, is in a private collection in France. New York Times - United States Art appreciation Artlogic's Ross Douglas, who organised the Jo'burg Contemporary Art Fair in March, is developing SA's first art index to help investors evaluate purchases. "those who did best did not buy the artwork as an investment, they became interested in an art movement or genre. And what they did was collect comprehensively." Financial Mail (subscription) - Johannesburg,South Africa Five Musts If You Are in the Market for Art Michael Moses, a former New York University professor who developed an art-price index with colleague Jiangping Mei, says that if the art market follows its historical pattern, it still has further to grow. During the last art boom, from 1985 to 1990, the market grew at a compound annual clip of 30%.. MainStreet - New York,NY,USA Smiling Bombs, 101-Carat Diamond Lead Christie's Hong Kong Sale May 23 (Bloomberg) -- A Yue Minjun painting on China's Tiananmen Square crackdown is among the top lots of Christie's International's spring auction in Hong Kong, starting tomorrow, which may tally HK$1.7 billion ($218 million). Bloomberg - USA Thursday, 22nd May 2008 Charles Saatchi to advise fine art hedge fund on investments London: The Art Trading Fund, which describes itself as the world's first "regulated fine art hedge fund", says Charles Saatchi will advise it on contemporary art purchases and help them select works by Western artists and from the emerging markets of China, India and West Asia. Livemint - Delhi,Delhi,India A painting in all their houses Between today and next Tuesday, five works by the late pre-Group of Seven artist will be sold by the country's three largest auction houses, each trying to make the most of a Canadian art boom that shows no sign of slowing. National Post - Toronto,Ontario,Canada Bernard Mendelman -- Rosy picture painted for Canadian art In 2006-07, the Canadian market posted its most successful season ever, up an exceptional 30 percent over the previous outstanding season with sales of over $65 million. Averaged an annual rate of return of 20.34 percent over the past 10 years. The Suburban - Montreal,Quebec,Canada Down-Economy Spending Habits Of The Rich 55% of the 5,000 wealthy men and women surveyed said that they had reduced or deferred expenditures in the past 12 months or would make a conscious effort to do so in the next 12 months. Forbes - NY,USA FIRE AND ICE The second-ever Reykjavik Arts Festival, May 15-June 5, 2008, is a triennial celebration of visual culture in Iceland and a little gem on the international art circuit. Bjork was present in the form of cameo appearances at various Artnet - New York,NY,USA Economy paints a bleak picture for art market ArtTactic's latest survey of the Indian art market shows a 13 percentage point dip in its Indian Art Market Confidence Index, a measure based on the responses of 80 experts to questions on the current and future prospects of the economy and the primary and secondary markets for art. Livemint - Delhi,Delhi,India Art Under the Hammer It is no surprise, then, that Sotheby's has high expectations for it's next auction of Russian art, to be held in London on June 9 and 10. A total of 600 works will be on sale, including works by Faberge. Sixty of the most exciting pieces. The Moscow Times - Russia German gallery tries to block sale of works by Joseph Beuys NEW YORK. Negotiations between the Kaiser-Wilhelm-Museum in Krefeld, Germany, and art collector Helga Lauffs continue as the museum tries to stop five Joseph Beuys sculptures from being sold. The Art Newspaper Saatchi to Advise Art Fund on Deals ``We were approached by the Saatchi Gallery to become corporate patrons,'' said Williams. ``Being cheeky boys, we wanted something in return. The Saatchi team will bring global expertise to our plans to enter new markets.'' By DealBook POST-WAR AND CONTEMPORARY ART EVENING SALE AT CHRISTIE'S NEW YORK ... New York- Christie's highly anticipated Post-War and Contemporary Art Evening Sale totalled $348,263,600, marking the second highest total ever in auction history for the category. Eight new world auction records for Richard Prince, Sam Francis, Leon Gottlieb, and Lucian Freud News-antique.com (press release) - Garden City,NY,USA Liu Flops in Beijing as Quake Damps China Art Auction (Update1) May 22 (Bloomberg) - Liu Xiaodong, who last month set mainland China's top contemporary-art auction price, failed to sell an oil painting at an auction in Beijing today, as the nation's worst natural disaster in three decades sapped interest. Bloomberg - USA "Art Connection Group's 2008 Art Investment Conference" Art Connection Group proudly announces the 2008 Art Investment Conference at London Business School, supported by Fine Art Wealth Management. The conference titled The Science and Passion of Art Investing will be held Friday, 30th of May from 08:00 - 17:30 GMT Absolutearts.com - USA Christie's to Hold Inaugural Evening Sale of Asian Contemporary ... HONG KONG.- Christie's, the world's leading art business, will present a two-day series of sales devoted to unrivalled examples of Asian Contemporary Art on May 24 -25 in Hong Kong, opening with the first-ever Evening Sale for the category. Art Daily - USA SCOPEBasel June 3-8 2008 Basel - SCOPE, the cutting-edge contemporary art fair, returns for the second year to Basel in a new venue, a 60,000 square foot glass pavilion situated on the Rhine. Within walking distance of Art Basel 39, showcasing 85 galleries from all over the world. By e Art fair .com Why we must think of design as art A month ago, Phillips de Pury & Co's first foray into "design art" sales took place at its Howick Place showrooms in London. The sale had an upper estimate of £2 million and made nearly £2.3 million, no easy feat. Surely the time has come to bifurcate the mid-century and contemporary material into distinct sales. Telegraph Blogs - http://blogs.telegraph.co.uk/ Gallery's cruise ship strategy makes splash with art sales The globally-renowned art dealer/gallery is the world's largest in terms of unit sales, based largely on the strength of its "cruising" strategy. Park West has sold thousands of works of art on 85 cruise ships and eight cruise lines. Michigan Business Review - MLive.com - Ann Arbor,MI,USA an artful summer IF you fancy getting your hands on a piece of Ginger Rogers' jewellery or a signed Willy Rizzo picture, then there's only one place to go this summer: the Olympia International Art & Antiques Fair, which opens on June 5. Vogue.com - UK Bold bid for dock art mecca New $70 million Museum of Old and New Art (MONA) which he is building at Moorilla in Hobart's northern suburbs, and close integration with the nearby Tasmanian Museum and Art Gallery. Mr Walsh,has acquired a $100 million collection of international and Australian art to be displayed at MONA, and is passionately committed to his hometown of Hobart. NEWS.com.au - Australia Debut Hong Kong Fair Makes Its Mark HONG KONG--The inaugural edition of the Hong Kong International Art Fair, also called ART HK 08, marked a high point in the city's increasingly important spring sales season, coming after the blockbuster Sotheby's auctions in early April and just days before the gavel falls at Christie's on May 24. ARTINFO - New York,NY,USA New York Tribal Arts Show Returns to Its Downtown Roots NEW YORK--The New York International Tribal & Textile Arts Show, which took place May 15-18, has been around under various names since 1995. ARTINFO - New York,NY,USA Christie's to Offer The Niall Hobhouse Collection in London The collection, offers works of art that epitomize the captivating taste of Niall Hobhouse, whose family has had strong links with India since the 19th century. Individual estimates range from £500 to £300,000 and the sale is expected to realise in excess of £1.5 million. Art Daily - USA Can Berlin's biennial answer the city's old questions? International exhibitions are trying to connect with the communities around them, but the Berlin Biennial raises questions of loss, memory and identity with no easy answers guardian.co.uk - UK Colin Gleadell rounds up the latest developments in the art market Do New Yorkers have something against Banksy? At Sotheby's last week, there were cheers when the British graffiti artist's painting Sale Ends Today, estimated to fetch $600,000, failed to sell. Telegraph.co.uk - United Kingdom Freud, Bacon Works May Fetch $19.6 Million at London Auction ``Bacon and Freud have always been expensive because their works are actually quite rare,'' said Gerard Faggionato, the London-based dealer who represents the Bacon estate. ``Russians are interested in them and there are far more American collectors than there were five years ago.'' Bloomberg - USA Scaled-Down Art Moscow Draws No Shortage of Wealth MOSCOW--This year's Art Moscow, which ran May 14 to 18 at the Central House of Artists, was a somewhat scaled-down version of Russia's largest fair. Although overall sales figures for the event have not yet been released, ARTINFO found severals galleries boasting strong sales and a glittering turnout, evidence that the market is alive and kicking in Russia. ARTINFO - New York,NY,USA Muslim Modern Masters Bring Bahrain to Florida Engaging Sharif ``We need to do more of this,'' the Bahraini banker adds as the aircraft laden with modern and contemporary Islamic art makes its final approach on a family expedition to convince Americans that the Middle East is more than a terrorist hatchery. Bloomberg - USA The "afternoon effect" for artworks In light of this controversy, it is of interest to investigate whether or not Latin American art auctions are also subject to the declining price anomaly or the so-called "afternoon effect" . Mostly neuroeconomics at work, namely that we are more excited by new offerings than by familiar offerings. Marginal Revolution Osian's and Citibank join hands to offer Art Advisory Services Osian's Connoisseurs of Art, India's pioneering art and cultural institution has joined hands with Citibank (India), one of the world's leading international banks, to offer Art Advisory Services to their clients. Equity Bulls - Chennai,Tamil Nadu,India The Modern Gets a Trove From Corporate Collection - New York Times The corporate collection has been assembled over 30 years by Donald B. Marron, chairman of UBS America. He is a passionate collector who spends considerable time scouring galleries, auction houses and artists' studios. Tuesday, 20th May 2008 Art sales: super-rich send prices soaring The contemporary art market looked stronger than ever at the New York sales last week. Overall, Sotheby's, Christie's and Phillips de Pury & Co generated just over $980 million (£502 million), which is the highest total for any series of auctions. Telegraph.co.uk - United Kingdom Collecting Contemporary Chinese Art 28th May talk by MOCA Assistant Curator Rebecca Morse. East West Bank and the MOCA, LA are engaged in a two-year collaborative project on the acquisition of contemporary Chinese art. UCLA International Institute - Los Angeles,CA,USA Monday, 19th May 2008 Global economy faring better than widely feared, but dark clouds ... "Any blue skies you see are likely to be short-lived," said Paul Kasriel, director of economic research at Northern Trust in Chicago. "The economy is in the relative calm of the eye of the business-cycle hurricane. The mortgage credit problems are not over. International Herald Tribune - France Archives Member Sign Up | What’s this? Collectors, Corporates, Investors, Galleries, Dealers, Artists and Art Lovers ... to use Art2Bank's free and unique art market services, go to Member Sign Up above. Categories Art Service Directory Art Advisory South Africa Art Classes Canada United States Art Competition Online Art Fairs United Kingdom Art Galleries Australia Austria Belgium France Germany Puerto Rico Spain United Kingdom United States of America Art Museums Online United States Art Publishers Art Research & Writing Art Services London Art Services New York Art Galleries Artist Open Studios Art Societies United States Art Website Artist Blogs Artist Collective Canada United Kingdom United States of America Artist Open Studio Canada Denmark France Germany Israel Portugal South Africa United Kingdom United States Corporate Art Consultants Australia Finland New Jersey South Africa United Kingdom United States Illustration and Design United States Online Art Galleries United States Other Current Market Considerations Discovering Emerging Artists Individual Artist Analysis Motivations Rising Emerging Artists The Rise of Emerging Artists Tracking Trends and Indices View more work by our artists...
• 

  Global economy faring better than widely feared, but dark clouds remain

  http://chicago.rtnews.org/global-economy-faring-better-than-...
  142 days ago in Chicago Real Estate | Real Estate News · Authority: 1

  The next big test for the world economy comes Friday, when a U.S. real estate trade group releases data on April sales of previously owned homes, a key barometer of the state of the American economy. from International Herald Tribune

Advertise on Technorati