10 December 2021

Art@Law | Constantine Cannon

Europe

Dutch State to allocate up to €150 million to acquire Rembrandt’s Standard Bearer: The Dutch State is prepared to allocate up to 150 million euros to acquire a painting by Dutch artist Rembrandt van Rijn. 

08.12.2021, NL TimesDutch State to allocate up to €150 million to acquire Rembrandt’s Standard Bearer

‘Hamilton Aphrodite’ sells for record-setting $24.6 M. at auction: An ancient Roman marble statue dubbed the Hamilton Aphrodite sold for £18.6 Million ($24.6 million) during a single-lot sale at Sotheby’s in London on Tuesday. The result for the sculpture was 9 times the £2 million ($2.7 million) low estimate. It set a record for the most ever paid for an ancient marble sculpture, according to the auction house.

07.12.2021, Art News: ‘Hamilton Aphrodite’ sells for record-setting $24.6 M. at auction

The Uffizi Museum rents its works to China for € 2 million: The Uffizi in Florence will organize ten exhibitions at the Bund One Art Museum in Shanghai. The Italian authorities welcome this partnership.

06.12.2021, Le Journal des Arts: The Uffizi Museum rents its works to China for € 2 million

United States

Billionaire collector Michael Steinhardt surrenders 180 stolen artefacts worth $70m: Michael Steinhardt, the 81-year-old hedge-fund billionaire, art collector and philanthropist, is being forced to surrender 180 stolen antiquities—valued at roughly $70m—to the Manhattan District Attorney’s Antiquities Trafficking Unit. Steinhardt will also be barred for life from acquiring further antiquities in what the DA’s office is calling a “first-of-its-kind lifetime ban.”

07.12.2021, The Art Newspaper: Billionaire collector Michael Steinhardt surrenders 180 stolen artefacts worth $70m

07.12.2021, The Guardian: US billionaire surrenders $70m of stolen art

06.12.2021, The New York Times: Michael Steinhardt, billionaire, surrenders $70 million in stolen relics

Jeff Koons faces infringement lawsuit over usage of artist’s sculpture in ‘Made in Heaven’ series: Over the years, Jeff Koons has faced a series of lawsuits over his appropriation of others’ work in his own art about consumerism and desire. Now, he has been hit with yet another, this one focused on his re-usage of a stage-like setting for works made as part of Koons’s series “Made in Heaven.”

03.12.2021, Art News: Jeff Koons faces infringement lawsuit over usage of artist’s sculpture in ‘Made in Heaven’ series

NFTs will get a dedicated physical museum in Seattle next month: Since NFTs took the art world by storm earlier this year, it seemed like only a matter of time that someone might launch a museum for them. Now, that indeed has become the case. Founded by two tech executives, Jennifer Wong and Peter Hamilton, the Seattle NFT Museum (SNFTM) will open its doors on January 14. 

03.12.2021, Art News: NFTs will get a dedicated physical museum in Seattle next month

The fate of the ‘Fearless Girl’ statue is in question after the permit for its place at the New York Stock Exchange expired: The fate of New York’s Fearless Girl statue is once again up in the air while its maker and the corporation that commissioned it battle over who owns the intellectual property.   

03.12.2021, Artnet: The fate of the ‘Fearless Girl’ statue is in question after the permit for its place at the New York Stock Exchange expired

World

Hindu goddess sculpture looted from temple returned to India: An ancient sculpture of a Hindu goddess that was stolen from a temple in the Banda district of Uttar Pradesh and trafficked for sale in London in the 1980s will be now be returned to India.

07.12.2021, Art News: Hindu goddess sculpture looted from temple returned to India

04.12.2021, The Guardian: Looted and left in an English garden, the goat goddess can return to India

NFT project sells for $91.8m, debatably achieving the highest price ever for a work by a living artist:

Sales of the new project by Pak point to increasing gamification in the NFT market, though the superlative total sum comes with a number of caveats.

06.12.2021, The Art Newspaper: NFT project sells for $91.8m, debatably achieving the highest price ever for a work by a living artist
07.12.2021, Artnet: Artist Pak just sold 266,445 shares of an NFT for $91.8 million on Nifty Gateway — making him (arguably?) pricier than Jeff Koons

Washington’s National Gallery of Art will return a looted Benin Bronze cockerel to Nigeria:

The National Gallery of Art in Washington, DC, will return a Benin bronze cockerel from its collection to Nigeria, making it the latest Western institution to agree to repatriate artworks stolen from the royal palace in Benin by invading British troops in 1897.

06.12.2021, Artnet: Washington’s National Gallery of Art will return a looted Benin Bronze cockerel to Nigeria

06.12.2021, The Art Newspaper: National Gallery of Art in Washington DC plans to return looted Benin cockerel to Nigeria

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