Art Business

Sotheby’s reports record breaking year

Sotheby’s has reported record growth and record results for 2013. Auction sales grew 19% to reach $5.2 billion, making it the fastest growing global art auctioneer of the year. “2013 has been a remarkable year for the auction market and for Sotheby’s,” commented Bill Ruprecht, Sotheby’s Chairman and Chief Executive …

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Art Business

New Zealand art market bouyant

2013 marked the highest turnover ever recorded in the New Zealand art market ($20,318,000). Not since the early 2000s has the market seen such liquidity and firm demand, according to New Zealand auction house Webb’s. Webb’s secured 60% of the converted top 10 prices achieved in the fine art market. …

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Art BusinessArt Insurance

AXA ART CEO poised to take new role

CEO of AXA ART Versicherung AG Dr Ulrich Guntram is moving on to become regional CEO for AXA Corporate Solutions in Asia, effective April 1, 2014. He will replace Ergu Genya, who has been in this position since 2011. Dr Guntram has held various management positions within the AXA Group …

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Art Business

Bankrupt Detroit has $867 million-worth of art

The city of Detroit, which may have to sell its art in order to pay off some of its debt, has a collection worth up to $867 million, the auction house Christie’s has announced. Christie’s has delivered its final report which includes a valuation of City of Detroit (COD) purchased …

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Art Business

Sotheby’s names new lead independent director

The board of directors at Sotheby’s has unanimously elected Domenico De Sole as lead independent director. De Sole is co-founder and chairman of luxury retailer Tom Ford international and former president and chief executive officer of Gucci Group NV, which he took from a nearly-bankrupt single brand to a $3 …

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Art BusinessNews

Sotheby’s appoints chief marketing officer

Sotheby’s has appointed Alfredo Gangotena, a veteran marketing executive, as chief marketing officer. Gangotena joins Sotheby’s from MasterCard Worldwide, where he most recently was the chief marketing officer. Previously, he was chief executive officer of Hutchison-Priceline in Asia/Pacific. He also served as president and executive chairman of the Asia/Pacific region …

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Art BusinessAuctions & showsBuy art

Works from major private collections in Milan auction

An oil and collage by Marino Marini dated 1960 and estimated at between €50,000 and €70,000 will be the first lot in Sotheby’s Modern and Contemporary Art Auction in Milan, which will take place on November 27 & 27. The piece, titled Cavallo e Cavaliere, is one of two pieces …

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Art BusinessAuctions & showsBuy art

Major collection of Aboriginal work to be auctioned

On November 24, Bonhams’ Sydney auction house will be selling the largest group of bark paintings ever offered at auction as a single collection. The Evatt Collection of Aboriginal Bark Paintings and Sculpture was amassed over 40 years by renowned barrister, collector and art dealer, Clive Evatt QC. In 1972, …

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Art BusinessAuctions & showsBuy art

Stanley Spencer painting expected to fetch £3-5m

Christie’s is offering a highly important work by Sir Stanley Spencer (1891-1959) in the Modern British & Irish Art Evening Sale which will take place on 20 November 2013. Christ Preaching at Cookham Regatta: Conversation Between Punts is part of Spencer’s celebrated series painted in the 1950s, which explores the idea of Christ’s …

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Art BusinessAuctions & shows

Private sales boost Sotheby’s in tough third quarter

Sotheby’s reported improved results in the third quarter of 2013 compared with the same period a year ago, largely thanks to an $11.3 million, or 77%, increase in private sale commissions and a $6.6 million, or 16%, increase in auction commission revenues. The company still made a net loss in …

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