Kour Pour, the 26-year-old whose detailed paintings depict Persian rugs, drew such a frenzy for his first solo exhibition that his works sold out before the opening last month at New York’s Untitled Gallery.
Mexican financier David Martinez Guzman is the seller of a 1966 Francis Bacon portrait estimated at 30 million pounds ($49 million) that’s scheduled to be auctioned next month, said two people with knowledge of the matter.
Art Basel Miami Beach, the largest U.S. art fair, will offer more than $3 billion of mostly postwar and contemporary works when it opens to a select group of collectors today, a 20 percent increase from two years ago.
Art experts yesterday reacted with concern at the prospect of masterpieces from the Detroit Institute of Arts, including works by Bellini, Rembrandt, van Gogh and Picasso, suddenly flooding the global market.
On a day when U.S. stocks lost more than $240 billion in value, Christie’s held its largest-ever postwar and contemporary sale, setting records for eight artists including Franz Kline, Jeff Koons, Donald Judd and Jean-Michel Basquiat.