#art-world-corruption

#art-world-corruption

Private auctions are characterized by their curated nature, taking place outside the traditional public auction format, which allows for a more controlled and quieter sales environment.

"I love the paintings of Enrico Donati as I love a night in May." This sentiment from André Breton reflects the deep admiration he had for Donati's work, emphasizing the emotional connection to the art.

"It's a really special spot. When you start at the top and move down the gently sloped ramp, you almost feel like a marble tumbling down, looking at art as you roll by. The slight slant plays with your sense of perspective and grounding."

"Until recently, there was no specific legislation addressing the forgery of artworks and collectibles. Instead, these cases fell under the 'smoother' general provisions of the criminal code concerning fraud and forgery, which required proof of a financial transaction in order for an offence to be established."

Kamrooz Aram is everywhere this year, from Mumbai Art Week to the Whitney Biennial, and critic Aruna D'Souza is grateful. She pens a beautiful meditation on his work, reading his abstract paintings as not simply a denunciation of Western modernism nor a reassertion of Islamic visual motifs, but something else entirely - something gestural, exuberant, riotous, and incomparably his own.

The record price in the category, $13.8m- paid last year at Christies' in New York for a painting by the Mumbai-based Modernist M.F. Husain-is more than three times what it was 20 years ago.

Dealers like artists with established sales records because it lowers their already considerable financial exposure. Renting a gallery space in Tribeca costs anywhere between $8,000-30,000 a month on top of staff, marketing, and daily operations. With that kind of overhead, very few business owners can afford to take on the financial risk of untested artists.

The exquisite, jewel-encrusted boxes were badly damaged in 2024, after they were among seven treasures stolen from Paris's Musée Cognacq-Jay by a gang of axe-wielding thieves. The perpetrators broke into the temporary exhibition, titled "Luxe de Poche," or "Pocket Luxury," on November 20, making off with goods that were, at the time, reported to be worth more than €1 million.

Stephen Friedman was overdue filing when he went into liquidation on 2 February, closing his London gallery immediately (his New York venue shuttered around the same date). At the time of writing, invoices remain unpaid and artists unable to retrieve works from storage companies. In a statement, Friedman says 'all matters are now subject to the administrator's consideration'.

The terms are often conflated to portray an air of desirability and a limited opportunity. Rarity generally refers to the unusualness of an object—something that is infrequently encountered or 'rare to market.' With modern works from the past century, rarity can stem from limited original production, or the fact that many examples are held in museum or institutional collections, reducing their availability in the marketplace.

We're still the new kids on the block. But it feels like we're more on the map, more anticipated this year. This year at Post-Fair, his gallery is showing small works by Edgar Ramirez, who won the Frieze Impact Prize in 2023.

We knew everything we needed to know about the art world before the Epstein Files dropped. Before heinous allegations against Museum of Modern Art trustee Leon Black emerged, or School of Visual Arts chair David A. Ross's sympathetic endorsement of Epstein came out, we knew about the intimate connections between institutional heads and donors and trustees. The exchanges of money, donations, or favors that bind them.

Because they've long stopped being about just one depraved pedophile and have come to symbolize the endemic depravity of the world's richest elites. It's no surprise that the art world is implicated. There isn't much difference between a corporation's board of directors and a museum's board of trustees. It's more or less the same money, same power dynamics, and the same creeps crawling through the corridors.

Is there finally a market for performance art? We're seeing more and more performance in galleries, art fairs, and other commercial art spaces these days.

Under the terms of Sotheby's new fee structure, buyer's premiums for lots sold in New York are increasing from 27% on lots priced at or above $1m to 28% for all works sold for hammer prices up to and including $2m (£1.5m in London). The medium tier buyer's premium will remain 22% of the hammer price, but will be applied to lots sold for between $2m and $8m (£1.5m and £6m in London);

For some eminently wealthy individuals, amassing a first-class art collection is an ideal way to spend their money. And while some high-profile art collectors end up donating their collections to museums or other cultural institutions, others take a different approach, reselling their art after a certain amount of time. Which brings us to this week, when billionaire David I. Koch's collection of Western art hit the auction block at Christie's, setting a number of records in the process.