The Art Market: Cautiously optimistic?: The drop in value of the British pound since the EU referendum proved a boon to London’s October week contemporary art auctions. Presale estimates had been pitched low, given the uncertain economic and political backdrop, and some bargain-hunting contributed to an average 89 per cent sell-through rate across the three mixed-lot evening sales at Phillips, Christie’s and Sotheby’s.
21.10.2016, The Financial Times: The Art Market: Cautiously optimistic?
Wildenstein Tax Trial Ends With Art Dealer’s Fate in Tribunal’s Hands: The tax fraud trial of Guy Wildenstein, the billionaire international art dealer, ended Thursday night and a prosecutor asked the tribunal of judges hearing the case to sentence Mr. Wildenstein to two years in prison on charges that he helped shield a vast art collection in a maze of foreign trusts.
20.10.2016, The New York Times: Wildenstein Tax Trial Ends With Art Dealer’s Fate in Tribunal’s Hands
Swiss field just two looted art claims in seven decades: A new Swiss government report on the handling of art stolen and looted from the Nazi era says the country will focus on ways to authenticate ownership and fairly solve disputes.
19.10.2016, Swissinfo.ch: Swiss field just two looted art claims in seven decades
Critics say Bavaria not doing enough on looted art: The Bavarian Culture Ministry is coming under fire for failing to restore art stolen during the Third Reich. That includes cases in which works looted from Jews were sold back to the heirs of Nazi thieves.
31.10.2016, DW: Critics say Bavaria not doing enough on looted art
Princely buyer defends Cranach attribution over ‘fakes’ claim: The buyer of a major Old Master painting at the centre of a potential ‘fakes’ scandal has strongly defended its authenticity as a row threatens to erupt over its attribution.
20.10.2016, Antiques Trade Gazette: Princely buyer defends Cranach attribution over ‘fakes’ claim
Christie’s Changes Third-Party Guarantee Reporting (Where Guarantor Wins the Lot): Christie’s has just announced that it will change the way it reports the net price paid for works where a third party guarantor receives a fee for providing a guarantee and then participates in the bidding and wins the lot.
17.10.2016, Art Market Monitor: Christie’s Changes Third-Party Guarantee Reporting (Where Guarantor Wins the Lot)
Fuller calls for trade to lobby on ivory in advance of consultation: Natural history expert Errol Fuller has called for the antiques trade to lobby quickly over any rule changes to the UK trade in ivory.
21.10.2016, The Antiques Trade Gazette: Fuller calls for trade to lobby on ivory in advance of consultation
Picking Apart 18th-Century French Furniture to Detect Forgery: The decorative arts adviser William Iselin recently led a team of specialists in Paris as it dismantled an early-1700s desk made by André-Charles Boulle.
20.10.2016, The New York Times: Picking Apart 18th-Century French Furniture to Detect Forgery
Auction Houses Told to Improve Transparency in Reporting Prices: Auction houses, whose public sales are often obscured by undisclosed fees, have to report the prices of the artworks they sell in New York with more transparency.
18.10.2016, Bloomberg: Auction Houses Told to Improve Transparency in Reporting Prices
Former Knoedler director settles lawsuit with casino billionaire over fake Rothko: This is the eighth of ten legal cases brought by collectors who bought forged paintings through the now defunct gallery.
19.10.2016, The Art Newspaper: Former Knoedler director settles lawsuit with casino billionaire over fake Rothko
Sotheby’s Sends Suspected Forgery to Same Company That Busted Knoedler Ring: More damning evidence in the unfolding Old Master forgery scandal could be on the way.
18.10.2016, Artnet: Sotheby’s Sends Suspected Forgery to Same Company That Busted Knoedler Ring
14.10.2016, Artnet: The Frans Hals Forgery Scandal, Explained
Collector and shippers indicted over New York tax dodge: A Manhattan district attorney has warned the art and antiques trade of its obligations regarding local sales taxes after a collector and his shippers were indicted for fraud.
21.10.2016, The Antiques Trade Gazette: Collector and shippers indicted over New York tax dodge
David Nahmad Claims to Own $14 Million Monet Painting Embroiled in Jho Low Investigation: The US Justice Department is moving to seize $1 billion in artworks, luxury properties, and other assets owned by Malaysian financier Jho Low, but their efforts may be stymied by art dealer David Nahmad.
19.10.2016, The Wall Street Journal: Art Dealer Claims Monet in 1MDB Scandal
Neville awaits sentencing in Mallett embezzlement case: Henry Neville, former director at Mallett and head of their New York branch, has pleaded guilty to all criminal charges relating to an embezzlement case brought by US authorities.
14.10.2016, The Antiques Trade Gazette: Neville awaits sentencing in Mallett embezzlement case
Sotheby’s Follows Christie’s and Hikes Buyer’s Premium: The change kicks in just in time for the major fall sales in New York.
14.10.2016, Artnet: Sotheby’s Follows Christie’s and Hikes Buyer’s Premium
Wall Street Dealmaker Says Professor Took Him for a Ride: The New York Times reports on the lawsuit between Wall Street trader Andrew Hall and professor Lorettann Gascard, who allegedly sold Hall a number of forged paintings.
17.10.2016, The New York Times: Wall Street Dealmaker Says Professor Took Him for a Ride
Masterpieces Missing at Auctions Turn Up at $450 Million Show: Art collectors looking for masterpieces haven’t seen many at auction houses this year. A better bet would be the blockbuster exhibition at the Di Donna Galleries in New York that opened Thursday.
14.10.2016, Bloomberg: Masterpieces Missing at Auctions Turn Up at $450 Million Show
The Art Market: Antiquity trade under pressure: The antiquities trade is under pressure again. As Cyprus prepares for its presidency of the Council of Europe, which promotes human rights, high on the agenda is combating illicit trafficking in cultural property. Ioannis Kasoulides, Cyprus’s foreign minister, has called for a “robust” UN Security Council resolution to “apply universal limitations on the trade and transfer of artefacts originating from all conflict zones, with the obligation of proof of legitimate trade resting on the traders, auction houses and buyers and not on the originating state”.
14.10.2016, The Financial Times: The Art Market: Antiquity trade under pressure
Italian Mafia Helps Arm ISIS With Looted Antiquities: Greek and Roman antiquities are traded for Kalashnikovs.
18.10.2016, Artnet: Italian Mafia Helps Arm ISIS With Looted Antiquities
Looters exploit the political chaos in Libya: Illicitly excavated artefacts are “gushing out” of the country, experts warn.
20.10.2016, The Art Newspaper: Looters exploit the political chaos in Libya
After a Spike in Cases, South Korea Passes New Law to Prevent Art Forgeries: Counterfeit scandals are all the rage—or at least, art authenticators and government agencies are getting better at spotting them. In light of this, the government in South Korea is taking steps to build a stronger, more transparent art market in the country, by implementing new laws that turn the tasks of authenticating and tracking provenance of artworks into a national issue.
20.10.2016, Artnet: After a Spike in Cases, South Korea Passes New Law to Prevent Art Forgeries
Christie’s and Sotheby’s make a bid to boost Middle East art: Both auction houses have the potential to knock out some big sales, with several notable pieces up for grabs.
17.10.2016, The National: Christie’s and Sotheby’s make a bid to boost Middle East art
21.10.2016, Al Arabiya: Christie’s confirms growing strength of Mideast’s art market
How Galleries are Adapting to Changing Times in the Art Market: Middle-market galleries have faced serious competition in the global art market, from the small, alternative pop-up spaces to blue chip, mega galleries.
19.10.2016, The Huffington Post: How Galleries are Adapting to Changing Times in the Art Market
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