What’s going on here? The global art market saw a 4% sales dip last year as economic uncertainty made wealthy buyers more cautious, UBS reports. What does this mean? UBS’s latest Art Market Report highlights how high interest rates and economic turbulence are prompting the affluent to buy art more deliberately. Global sales hit around
Is contemporary art a good investment in 2023? Before you jump in, it is crucial to understand the inner workings of this complex and exciting market. Discover the keys to… Contemporary art fascinates as much as it divides. Some see it as a speculative bubble, while others see it as a wise investment to diversify
Frankfurt – Mayer Brown is advising Art-Invest Real Estate on the acquisition of the residential real estate portfolio ELEMENT CORE LIVING, which consists of four properties in Hanover, Braunschweig, Dietzenbach and Dortmund. The seller is the open-ended mutual real estate fund FOKUS WOHNEN DEUTSCHLAND, which is managed by INDUSTRIA Immobilien GmbH and administered by the service KVG
Art Industry News is a daily digest of the most consequential developments coming out of the art world and art market. Here’s what you need to know this Tuesday, May 24. NEED-TO-READ Canadian Museums’ $617 Million Rebuild Draws Criticism – In British Columbia, a new proposal by the provincial government to spend CA$789 million ($617
Mayer Brown is advising Art-Invest Real Estate on the acquisition of the residential real estate portfolio ELEMENT CORE LIVING, which consists of four properties in Hanover, Braunschweig, Dietzenbach and Dortmund. The seller is the open-ended mutual real estate fund FOKUS WOHNEN DEUTSCHLAND, which is managed by INDUSTRIA Immobilien GmbH and administered by the service KVG
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This is the time of year when budding artists around the country are busy putting the finishing touches to their final degree showpieces, the fruits of their past few years of artistic labour. Starting today, Slade School of Fine Art in London and Falmouth University in Cornwall are among the art colleges running the first
In 1984, contemporary artist Jean-Michel Basquiat’s work “Untitled” sold for $19,000 at auction. In April, it fetched $110.5 million, a record for an American artist at auction. Ultra-rich buyers are increasingly looking to a group of “superstar” artists like Basquiat when it comes to investing in art. The result: record high prices at the very
Toronto Mayor Olivia Chow has announced details of a new plan by the city to make major investments in arts and culture over the next 10 years. At a news conference on Thursday, Chow said the plan aims to bring cultural events to all corners of the city. These include areas historically under-represented. The plan commits
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As an adventurous type, I’ve toyed for many years with the idea of investing in what some call “emotional” assets. This huge, very personal investment space covers everything from stamps and vintage cars through to