One of the World’s Greatest Art Collections Hides Behind This Fence: The superrich have stashed millions of works in tax-free storage. So what does that mean for the art?
29.05.2016, The New York Times: One of the World’s Greatest Art Collections Hides Behind This Fence
German minister lifts opposition to Jewish delegate on art restitution body: In a reversal, Germany’s culture minister said she favours including a Jewish community representative on the country’s controversial committee for restitution of Nazi-looted art.
26.05.2016, Jewish Telegraphic Agency: German minister lifts opposition to Jewish delegate on art restitution body
30.05.2016, The Jerusalem Post: CDU minister: Put Jewish member on looted art panel
Court Denies Extradition Request for Spaniard Wanted in Art Fraud: José Carlos Bergantiños Díaz, one of two Spanish brothers charged in the United States with organizing an art market swindle, should not be extradited, Spain’s national court ruled.
27.05.2016, The New York Times: Court Denies Extradition Request for Spaniard Wanted in Art Fraud
31.05.2016, Artnet News: Spanish Court Denies Extradition Request for Key Figure in Knoedler Fraud Case
Art’s $1 Billion Question: Was Russian a Victim or Savant?: Is art collector Dmitry Rybolovlev an unwitting victim of fraud, or a savvy buyer who should have known what he was getting into? Was Yves Bouvier acting as his buyer’s agent, or simply as a dealer?
31.05.2016, Bloomberg: Art’s $1 Billion Question: Was Russian a Victim or Savant?
31.05.2016, New York Post: Sotheby’s faces backlash after granting peek at its books
01.05.2016, Art Market Monitor: Sotheby’s Will Have to Provide Details on 15 Sales to Bouvier That Ultimately Went to Rybolovlev
Mysterious Ukrainian Collector Returns Stolen Dutch Old Master Painting a Decade Later: A Ukrainian art buyer has returned one of 24 paintings that disappeared from the Netherlands’ Westfries Museum during a 2005 robbery.
31.05.2016, Artnet News: Mysterious Ukrainian Collector Returns Stolen Dutch Old Master Painting a Decade Later
31.05.2016, Artdaily.com: Ukranian art buyer hands back stolen 18th-century Dutch masterpiece
Spanish Police Make Seven Arrests Over Francis Bacon Paintings Stolen in Madrid: Spanish police have made seven arrests in relation to the theft of five Francis Bacon paintings from a private home in Madrid earlier this year with an estimate combined worth of €25 million (approximately $28 million).
31.05.2016, Artnet News: Spanish Police Make Seven Arrests Over Francis Bacon Paintings Stolen in Madrid
Russian art historian cleared of fraud over forgery sale: Elena Basner, a Russian art historian on trial for allegedly selling a forgery of Boris Grigoriev’s painting In the Restaurant (1913), was acquitted last week by a court in St Petersburg. The court ruled on 17 May that she had made a mistake as an art historian in her assessment of the painting, but had not committed a premeditated crime.
27.05.2016, The Art Newspaper: Russian art historian cleared of fraud over forgery sale
Would Brexit destabilise the art market?: On 23 June, the British public will vote to leave or remain in the European Union. Would a ‘leave’ vote spell disaster for the UK’s thriving art trade, or open up new opportunities to it?
31.05.2016, Apollo: Would Brexit destabilise the art market?
29.05.2016, The Art Newspaper: Artists speak out as the battle rages over Brexit
BADA and ABA will ‘work towards closer cooperation’: The British Antique Dealers’ Association (BADA) and the Antiquarian Booksellers Association (ABA) have announced plans to create a ‘memorandum of understanding’ between the two venerable trade bodies.
27.05.2016, The Art Newspaper: BADA and ABA will ‘work towards closer cooperation’
Is Art Basel Parent Company MCH Buying Art Brussels?: When the MCH Group, the Swiss expo conglomerate that owns Art Basel and its associated fairs, announced in March that it would expand its involvement in the international art market by building “a new portfolio of leading regional art fairs,” few people in the trade considered the implications, even after the following line: “The portfolio will be built through partnerships with experienced partners and could include joint ventures, acquisitions and new art fair launches.”
31.05.2016, Artnet News: Is Art Basel Parent Company MCH Buying Art Brussels?
Bankrupt City of Rome Needs $500 Million for Historic Sites, Seeks Private Investors: The city of Rome has issued a public plea to the tune of €500 million for essential repairs to the ancient city which it cannot pay for, as Rome is €12 billion ($13 billion) in debt.
25.05.2016, Artnet News: Bankrupt City of Rome Needs $500 Million for Historic Sites, Seeks Private Investors
5 Things to Know about Investing in Art Right Now: 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.
31.05.2016, Artsy: 5 Things to Know about Investing in Art Right Now
The Art Market: Bust-up with a hushed-up ending: One of the most sensational art market lawsuits this century has ended in a Manhattan courtroom not with a bang, but a whimper — a secret settlement, with no details revealed.
27.05.2016, The Financial Times: The Art Market: Bust-up with a hushed-up ending
Location, location, location: the real estate lessons to be learned from Ace Gallery’s bankruptcy: How Los Angeles dealer Douglas Chrismas leveraged his property to attract artists, reassure clients, and generate income—even while facing financial disaster.
27.05.2016, The Art Newspaper: Location, location, location: the real estate lessons to be learned from Ace Gallery’s bankruptcy
Art market finds a way to shine above the gloom: When Christie’s held its “Bound to Fail” auction this month, the title reflected not only the theme of the works of art, but also the current downbeat mood of the market. However, it surpassed the tempered expectations set for it.
26.05.2016, The Financial Times: Art market finds a way to shine above the gloom
New Orleans Museum of Art joins Google project, putting 75 of its works online: A 14th-century religious painting, rich with gold leaf, is highlighted in a new digital archiving partnership between the New Orleans Museum of Art and Google.
26.05.2016, The Advocate: New Orleans Museum of Art joins Google project, putting 75 of its works online
Artist Challenges Genesis of Duke Riley’s Illuminated-Pigeon Project: Amy Adler, a New York University Law School professor specializing in art law said that you can’t copyright an idea. “If you allowed anyone with an idea to stop other people from making work, creative expression would grind to a halt.”
27.05.2016, The New York Times: Artist Challenges Genesis of Duke Riley’s Illuminated-Pigeon Project
World Heritage sites at risk from climate change – joint UN report: Some 31 natural and cultural World Heritage sites in 29 countries across the world are becoming increasingly vulnerable to the effects of climate change, a new report released by the United Nations has found.
27.05.2016, UN News Centre: World Heritage sites at risk from climate change – joint UN report
26.05.2016, CBC News: Climate change threatens World Heritage sites, report says
Singapore and Six Other Nations Continue Investigation into 1MDB Proceeds: The story also points to accusations made by the Malaysian Prime Minister that the Wall Street Journal had violated Malaysian secrecy laws in illustrating connections between the 1MDB fund and Jho Low who has been in the news for the last six months as a heavy seller of art at a steep discount from recent purchase prices.
31.05.2016, Art Market Monitor: Singapore and Six Other Nations Continue Investigation into 1MDB Proceeds
29.05.2016, The Wall Street Journal: Prosecutors: 1MDB Money Laundering Probe Largest Ever in Singapore
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