Art Business

Artcurial opens in Germany; further international expansion planned

Major French auction house Artcurial will pick up the pace of its development in Europe during the second half of 2015. As part of this process, it will start working with a permanent representative in Germany: Moritz von der Heydte. An art market specialist who has previously held roles with …

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Art Restitution

Call to stop illegal trade of art from war zones

Deliberately destroying and pillaging archaeological sites and trafficking art objects in war zones amount to cultural genocide and should be classified as war crimes, argued speakers in a public hearing held by the European Parliament’s Culture and Education Committee on Monday afternoon. MEPs and experts reiterated the need for harmonised …

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Auctions & shows

Sotheby’s Old Masters week ignites keen interest from Asia and Russia

The Old Masters Week auctions at Sotheby’s London realised a total of £64.1m, with Lucas Cranach the Elder’s La Bocca della Verità selling for a record £9.3m, the highest price for any Old Master sold at auction this year. The Old Master & British paintings and drawings sale saw keen …

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Art Business

ArteQuesta to offer guaranteed returns

Fine art investment company ArteQuesta has introduced guarantees for its clients. Investors will be able to purchase artworks for a specified amount of time, with the guarantee that ArteQuesta will buy back the artwork on a specific date with a guaranteed return on investment for the customer. “Guarantees have been …

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Art Business

An auction revolution: Tim Goodman’s vision of the future

Since online auction house Fine Art Bourse launched last month, its founder Tim Goodman has been flooded with emails of congratulations from delighted collectors keen to save money through its cut-price commission fees. FAB’s first auction is scheduled for September. How will things unfold after that? Private Art Investor asked …

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Auctions & shows

Christie’s Post-War and Contemporary Art summer auctions total £109,700,850

Christie’s Post-War and Contemporary Art auctions in London resulted in a combined total of £109,700,850 / $172,134,688 / €154,090,265. A highlight of the week was the record achieved for Chris Ofili’s Holy Virgin Mary (1996), one of the defining paintings of the 1990s generation. Christie’s said the successes of the Evening and …

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Art Business

Rayah Levy: why ArteQuesta embraces Bitcoin

By embracing Bitcoin as a form of currency, the art world can create a lasting record of an item’s provenance. That is the key reason why Rayah Levy, founder and director of Mill Valley, CA-based fine art investment company ArteQuesta, has decided to embrace the digital currency. Not controlled by …

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Art Business

New global arts club launches

A new global arts club, The Cultivist, launched in London on Friday. It is the brainchild of Marlies Verhoeven and Daisy Peat, who previously worked together for over six years at Sotheby’s. Their aim is to offer “intimate and privileged access to the art world through unique experiences, expert knowledge …

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Auctions & shows

Chinese buyers a strong presence at Christie’s day sale

Strong interest came from Chinese buyers at Christie’s Post-War and Contemporary art day auction in London on July 1. The top lot was Robert Longo’s Untitled (Last Tiger), which achieved a figure of £650,000 (estimate £300,000-400,0000). Of the 206 lots offered, 77% sold by lot and 85% sold by value. Rosanna …

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Art Business

Canny savings: how Fine Art Bourse does it

It sounds almost too good to be true: Tim Goodman’s Fine Art Bourse (FAB) went live at the end of June a buyer’s commission of only 5%, compared to the 25% fee commanded by traditionalists Sotheby’s and Christie’s. While this head-on challenge to the duopoly has been much publicised, one …

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