Singapore is taking center stage on the global art circuit this week as collectors descend on the city-state for Southeast Asia’s largest art fair, auctions and a video by Russian feminist art collective Pussy Riot.
Art and money have always been inseparable. As Andy Warhol declared almost four decades ago, “Business art is the step that comes after Art.” During the past several decades, however, this relationship has been transformed by the appearance of a new form of capitalism: finance capitalism.
Gallery owner Larry Gagosian is accused in two lawsuits, including one brought by billionaire Ron Perelman over a $4 million sculpture named “Popeye,” of using his position in the art world to negotiate secret deals, push clients around and manipulate prices for contemporary works.
Martial Raysse hadn’t had a solo U.S. show for more than four decades when the 78-year-old French artist’s Pop paintings of neon-faced beauties went on view at Luxembourg & Dayan gallery in New York last May.
Marc Jacobs’s departure from Louis Vuitton to focus on an initial public offering of his own brand is set to provide a double boost for LVMH Moet Hennessy Louis Vuitton SA, the owner of both luxury fashion labels.
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.