The largest auction ever held by Sotheby’s in Asia of a single owner’s art collection raised less money than expected on Thursday, a sign that rising global interest rates may be starting to weigh on the market for fine art. A portrait by Amedeo Modigliani sold for considerably less than predicted, and 10 other artworks
Former CEO of Deutsche Bank, Josef Ackermann, said, “A company without a collection is like a person without a memory.” Since the 1970s, DB has grown and maintained one of the largest art collections of any financial institution on Earth, among stiff competition. Art not only diversifies a bank’s portfolio, but it also builds their
In the world of art, hidden treasures often lie in plain sight, waiting for that keen-eyed individual to uncover their true worth. While the art market may seem like an exclusive realm reserved for seasoned collectors and high-profile investors, every now and then, a regular person stumbles upon a masterpiece that defies all expectations. These
Australian Retirement Trust has seen the cycle of in- and out-sourcing around the world and doesn’t want to be part of the same ‘pattern’. But even very large super funds have to think hard about their service providers, with counterparty risk emerging around similarly large managers. Australian Retirement Trust (ART) might be the country’s second
With a varying but undeniable frequency, works of art — sooner or later — make headlines when gavels are banged at auctions. As demonstrated by the most expensive piece up for grabs so far in 2023, it’s clear that art — in addition to being beautiful — can be very profitable if the stars align.
Elon’s diverse investments have generated him billions, even as entire sectors of the economy crumble. What’s his secret weapon? Elon’s actually been giving the secret away since late last year. Most people just missed it. It’s understandable, there was a lot going on; the invasion of Ukraine had just begun, fuel prices were starting to
Lee Woo-hwan’s painting/ Courtesy of Yeolmae Company By KTimes Lee Yeon-hee, a 38-year-old office worker, has distinguished herself among her friends as an art investor. Her foray into the art world started in 2019 with Damien Hirst’s “A Dream” and Lee has since expanded her portfolio to encompass works by acclaimed artists such as Lee
Jack Slomka September 18th, 2024 – 9:34 PM AI is probably the most controversial issue in gaming this year. The only thing that might come close is the mass shutdowns and layoffs that have been sweeping the industry since
The past year has been one of more transformation than usually occurs in the art world in any given twelve-month span. The cooler market can only account for some of the sweeping change—though “it is a correction, but not a collapse,” according to Christie’s CEO Guillaume Cerutti, as quoted in the Financial Times. This year
Calvin Lucyshyn, who operated Winchester Galleries, has been charged with one count of fraud over $5,000 An Oak Bay art dealer is facing a fraud charge two years after Saanich police seized around 1,100 pieces of art worth tens of millions of dollars. Police alleged at the time the dealer was taking art from people