Art FinanceBuy art

Are we in an art market bubble?

Since the market crash in 2008, the term “bubble”, applied in an economic context, has become part of everyday vocabulary. The analogy of a market growing so big, like a bubble, filled with air only waiting to burst, is almost irresistibly charming. Economic bubbles happen all the time, all over …

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Art Business

The Desire of Transparency in the Art Market

Fraud, money laundering, trafficking in cultural property, tax optimization, artificial increases of prices, confidentiality and anonymity… many dangerous hurdles, attributed to the art market, that for many elude to rules that have become an imperative necessity. Among the scandals involving diverse spheres of personalities and perplexed records in auction sales, we can …

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Art InsuranceArt Risk

Partnership between Hiscox and Collectrium

Insurance specialist Hiscox announced on 14 January 2016 the setting up of a partnership with the collection-management platform Collectrium. This partnership will offer Hiscox clients the services of Collectrium – a dematerialised tool for organising and valuating collections — with the aim of reducing the inherent risks of art collection. According …

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What happens after the sale? A look at Auction after Sale

Launched in July 2014 in Geneva, Auction after Sale is an online platform dedicated to the unsold sales at auction. The aim of the site: after any sale in the world, the client has ten days to acquire the unsold lots via the platform. To find out more, Art Media …

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Own art

Switzerland approves stricter regulations on free ports

On 18 November 2015, the Swiss government announced that parliament is permitting stricter regulations for free ports and customs warehouses. The regulations are part of a wider crackdown on money laundering, smuggling and other illegal activities that Switzerland has launched. The amendment to the Swiss Customs Act, which comes into …

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Art Restitution

Kunsthalle Mannheim Discovers 18 Possibly Nazi-Looted Artworks in Collection

The Kunsthalle Mannheim, in Germany, have discovered eighteen works in its collection that may have been stolen from Jewish owners by the Nazis. Included in these eighteen works are sculptures and drawings by artists Laszlo Moholy-Nagy, Max Slevogt, and Edgar Degas, among others. The museum has registered the pieces with …

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Art Business

The flamboyant youth of the photography market

Photography, particularly in the digital age, lends itself to reproduction and publishing more easily than any other medium, rendering it the most accessible art form. And so, the notion of rarity, which contributes greatly to the value of such works of art, (in so far as they are works of …

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Auction Houses Adapt to Serve the Next Generation

Sotheby’s, Christie’s and other auctions houses are adapting to serve the next generation. Auctions today are facing up to the fact that while the older audiences have traditionally supported them are still vital, their survival hinges on looking to the next generation. “It’s absolutely critical, essential,” said Jussi Pylkkanen, Christie’s …

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Venice may sell Klimt to pay city's debts
News

Venice may sell Klimt to pay off debt

On 9 October 2015, the Mayor of Venice, Luigi Brugnaro, suggested selling artworks owned by Venetian museums to pay the city’s debts. He aims to raise €400 million. Possible paintings to be sold include Judith II (Salome) by Gustav Klimt which is currently in the Museum of Modern Art in …

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Gutenberg Museum
Art BusinessArt FinanceArt Funds

Sheik of Sharjah signs financial contract with Gutenberg Museum

Dr. Sultan bin Mohammed al-Qasimi, the Sheik of Sharjah of the United Arab Emirates has signed a financial support package with the Gutenberg Museum in Mainz Germany. The contract ensures the financial support of the Sheikh for at least the next three years, which, it has been reported will amount …

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