Art Basel News
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Updated 33 minutes ago
Hong Kong is taking center stage on the global conspicuous-consumption circuit this week as billionaires descend on the city to choose from Angelina Jolie’s diamonds, Andy Warhol’s paintings and bottles of Romanee-Conti.
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Nearly every major cultural institution in New York has an organization devoted to cultivating future donors. They do this through a series of incentives like free admission to shows, openings and parties, where open bars are meant to open wallets. To oversimplify: liquor out, with hopes of money in later.
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Carole Server, a New York collector, bought lunch and three paintings at the VIP opening of Frieze Art Fair on New York’s Randall’s Island on Thursday.
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The Helly Nahmad Gallery canceled a major exhibition titled “Monet Richter” and scheduled to open during next week’s semi-annual art auctions, following charges of racketeering and money laundering against its owner.
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The influential Miami-based collectors Mera and Don Rubell will focus on contemporary Chinese art in their next exhibition for the 2013 Art Basel Miami Beach in December.
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The year’s biggest test so far for contemporary art dealers, in Switzerland, ended with galleries saying that demand and prices have returned to 2008 levels.
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As attacks on account secrecy and the fall from grace of Switzerland’s biggest banks leave Zurich mired in crisis management, another city an hour away is quietly moving ahead.
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Roman Abramovich ’s partner Dasha Zhukova , model Naomi Campbell and actor Will Ferrell were among VIPs yesterday at the world’s largest fair of modern and contemporary art in Switzerland, which opened with a spending spree on works such as a $5.5 million Mark Rothko abstract.
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A $25 million Alberto Giacometti sculpture and one of the last works by Louise Bourgeois are being eyed by collectors as the world’s largest modern and contemporary art fair opens in Switzerland.
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MCH Swiss Exhibition Group, the Swiss owner of Art Basel and Art Basel Miami Beach , will take a 60 percent stake in the company that controls Hong Kong International Art Fair , the fair’s director said today.
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