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.
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.
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.
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.
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.