Sales move out of Germany as controversial culture bill becomes law: German auctioneers are preparing to move sales abroad following the passing of a controversial new cultural heritage law.
18.07.2016, Antiques Trade Gazette: Sales move out of Germany as controversial culture bill becomes law
Swiss Seize Paintings by Van Gogh and Monet in Malaysia Corruption Case: Swiss authorities seized paintings by Vincent van Gogh and two by Claude Monet amid an investigation into Malaysia’s sovereign wealth fund.
25.07.2016, Artnet News: Swiss Seize Paintings by Van Gogh and Monet in Malaysia Corruption Case
23.07.2016, The Guardian: Van Gogh and Monet paintings seized in 1MDB corruption investigation
ASA to investigate transparency over auction premiums: The Advertising Standards Authority has launched an investigation into the way auction houses display their commission rates. In particular they are looking into whether estimates in auction catalogues are misleading as they fail to either state or include the buyer’s premium alongside the guide price.
27.07.2016, Antiques Trade Gazette: ASA to investigate transparency over auction premiums
BADA to conduct ‘full review’ after debut online auction hit by technical issues: The British Antique Dealers’ Association have promised a full review in the wake of its first live online auction for its members.
18.07.2016, Antiques Trade Gazette: BADA to conduct ‘full review’ after debut online auction hit by technical issues
BP extends culture sponsorship at four UK institutions: The oil giant will invest £7.5m over the next five years, renewing criticism from environmental groups.
28.07.2016, The Art Newspaper: BP extends culture sponsorship at four UK institutions
29.07.2016, Artnet News: Four Major London Institutions Renew BP Sponsorship as Activists Vow to Escalate Protests
HMRC revises Temporary Admissions policy following BADA Talk: HMRC have agreed to a change in policy dropping the requirement for a CCGI form to be submitted in addition to a SP5 form. The change will streamline the process for dealers renewing their TA authorisation for the guarantee waiver scheme.
28.07.2016, Antiques Trade Gazette: HMRC revises Temporary Admissions policy following BADA Talk
Christie’s Suffers A 38% Mid-Year Sales Slump Signalling Art Market Contraction: The mid-year reports from Christie’s have shown a 38% drop in sales illustrating a contraction in the buoyant art market. The Wall Street Journal released figures which pointed to an increase in sales of artworks in the $5 million-or-below range, but a slowdown in the $20 million and up categories resulting in a drop in overall sales figures, compared to last year.
27.07.2016, Artlyst: Christie’s Suffers A 38% Mid-Year Sales Slump Signalling Art Market Contraction
Thousands of ‘frozen’ manuscripts from bankrupt Aristophil fund to return to market: Historical documents and manuscripts from the scandal-hit Aristophil investment scheme could soon return to the market as the slow process of restitution promises to quicken in the coming weeks.
28.07.2016, Antiques Trade Gazette: Thousands of ‘frozen’ manuscripts from bankrupt Aristophil fund to return to market
Austrian City Must Pay $9 Million Compensation Over Lost Schiele and Klimt Works: The Austrian Supreme Court has ordered the city of Linz to pay €8.24 million ($8.96 million) plus 4 percent interest to the heirs of a local collector for losing a Gustav Klimt drawing and three pictures by Egon Schiele.
27.07.2016, Artnet News: Austrian City Must Pay $9 Million Compensation Over Lost Schiele and Klimt Works
Orlan Must Pay Lady Gaga $22,000 After Losing Forgery Lawsuit: A forgery suit by French artist Orlan against pop star Lady Gaga has backfired.
26.07.2016, Artnet News: Orlan Must Pay Lady Gaga $22,000 After Losing Forgery Lawsuit
Stolen Paintings by Salvador Dalí and Tamara de Lempicka Recovered After Seven Years: The art detective Arthur Brand announced that two major paintings, one by Salvador Dalí and the other by Tamara de Lempicka, have been recovered seven years after they’d been stolen from a Dutch museum.
28.07.2016, Artnet News: Stolen Paintings by Salvador Dalí and Tamara de Lempicka Recovered After Seven Years
Long-Lost Panting by French Master Paul Delaroche Authenticated on TV Show: A long-lost painting by the French master Paul Delaroche has resurfaced thanks to the sleuthing work carried out by the BBC program Fake or Fortune.
25.07.2016, Artnet News: Long-Lost Panting by French Master Paul Delaroche Authenticated on TV Show
Despite Death Threats, Modigliani Expert To Publish New Catalogue Raisonné: French scholar Marc Restellini has braved death threats over his efforts to authenticate works by the Italian artist Amedeo Modigliani.
22.07.2016, Artnet News: Despite Death Threats, Modigliani Expert To Publish New Catalogue Raisonné
Royal Museums Greenwich secures Armada Portrait of Queen Elizabeth I: The Armada Portrait of Elizabeth I has been bought by Royal Museums Greenwich, thanks to a £7.4m grant from the Heritage Lottery Fund, announced on Friday, 29 July. This is one the largest grants ever given by the lottery for a museum acquisition.
29.07.2016, The Art Newspaper: Royal Museums Greenwich secures Armada Portrait of Queen Elizabeth I
Photographer Suing Getty Images for $1 Billion in Copyright Complaint: Getty Images has been slapped with a hefty copyright infringement suit by a lauded photographer.
28.07.2016, Artnet News: Photographer Suing Getty Images for $1 Billion in Copyright Complaint
Chinese Investor Takes Largest Stake in Sotheby’s: Chinese insurer Taikang has amassed a 13.5 percent stake in Sotheby’s—the largest of any shareholder—and may be looking for a seat on the board of the auction house.
28.07.2016, Artnet News: Chinese Investor Takes Largest Stake in Sotheby’s
28.07.2016, The Wall Street Journal: Meet Taikang: The Chinese Insurance Giant That Just Bought a Big Chunk of Sotheby’s
An Auction House Learns the Art of Shadow Banking: A year before he got caught up in a U.S. money-laundering investigation, Malaysian financier Jho Low was looking to borrow more than $100 million without having to answer all the nosy know-your-customer questions required by U.S. banks such as JPMorgan Chase & Co.
28.07.2016, Bloomberg: An Auction House Learns the Art of Shadow Banking
Knoedler Fakes Give Rise to Diebenkorn Catalogue Raisonné: After 21 years in the making, Yale University Press will release a catalogue raisonné of the works of Richard Diebenkorn, the California painter who forged a distinct West Coast brand of Abstract Expressionism, in October 2016. It’s the first exhaustive catalogue of the artist’s work.
28.07.2016, Artnet News: Knoedler Fakes Give Rise to Diebenkorn Catalogue Raisonné
China back on top of global auction sales, Artprice reports: A new study by Artprice.com calls China “the world’s largest art marketplace”, following an analysis of auction data for the first half of this year. The report estimated $6.53bn (including fees) in global sales turnover for the first six months of 2016, with China accounting for $2.32bn, or 35.5%, of that business.
28.07.2016, The Art Newspaper: China back on top of global auction sales, Artprice reports
How Political Instability in Turkey Negatively Impacted the Art Market: A new study by Artprice.com calls China “the world’s largest art marketplace”, following an analysis of auction data for the first half of this year. The report estimated $6.53bn (including fees) in global sales turnover for the first six months of 2016, with China accounting for $2.32bn, or 35.5%, of that business.
28.07.2016, The Art Newspaper: China back on top of global auction sales, Artprice reports
Vic Whiteley art fraud like ‘fake Rolex’: A lawyer for the Melbourne art dealer who sold Brett Whiteley forgeries for millions says his client shouldn’t go to prison while an appeal is processed.
28.07.2016, SBC: Vic Whiteley art fraud like ‘fake Rolex’
How London Developed a Bullish Market for Contemporary African Art: With his deftly rendered paintings fusing digital textures with portraits of disappearing ethnic groups in the Democratic Republic of the Congo (DRC), the Congolese artist Eddy Kamuanga Ilunga emphasizes globalization’s modernizing effects on his home.
26.07.2016, Artsy: How London Developed a Bullish Market for Contemporary African Art
Brazil’s Museum of Stolen Beauty: When federal police showed up at his door in Rio de Janeiro with an arrest warrant in late 2014, Renato Duque grabbed the phone. “What kind of country is this?” the former top official at the Brazilian oil company Petrobras exclaimed to his attorney moments before being hauled off to prison on corruption charges.
22.07.2016, Bloomberg: Brazil’s Museum of Stolen Beauty
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