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Looted Ukrainian Painting Sells for $1 Million At Russian Auction House

Looted Ukrainian Painting Sells for $1 Million At Russian Auction House

by News Desk | Feb 22, 2024 | Art market news

A painting titled “Moonlit Night” by Ivan Aivazovsky fetched approximately $1 million at Russia’s Moscow Auction House on February 18. However, the sale has sparked controversy, with allegations emerging that the canvas was stolen from the Mariupol...
Corporate Consolidation Threatens Independent Art Fairs’ Cool Factor

Corporate Consolidation Threatens Independent Art Fairs’ Cool Factor

by News Desk | Feb 17, 2024 | Art market news

Untitled Art, the latest independent art fair to succumb to corporate acquisition, follows a trend of industry consolidation. Recently, notable fairs such as The Armory Show in New York and Expo Chicago fell under the ownership of London-based Frieze, who divested a...
Simon Lee Gallery: Financial Woes Revealed In Insolvency Proceedings

Simon Lee Gallery: Financial Woes Revealed In Insolvency Proceedings

by News Desk | Feb 14, 2024 | Art market news

The insolvency report of Simon Lee Gallery (SLG) exposes a labyrinth of debt and contentious dealings, raising significant concerns about the gallery’s financial management. Prepared by BDO LLP, the 44-page report offers a comprehensive overview of SLG’s...
Sotheby’s Out Sells Christie’s Recording A Bumper £7.9B 2023

Sotheby’s Out Sells Christie’s Recording A Bumper £7.9B 2023

by News Desk | Jan 29, 2024 | Art market news

Sotheby’s auction house revealed its 2023 sales figures today, nearly matching its record-breaking $8 billion reported in 2022. Despite facing market challenges, Sotheby’s consolidated sales totalled $7.9 billion for the year, showcasing resilience amidst...
Lost £55m Gustav Klimt Masterpiece To Be Auctioned in Vienna

Lost £55m Gustav Klimt Masterpiece To Be Auctioned in Vienna

by News Desk | Jan 26, 2024 | Art market news

Vienna — A long-lost painting by the renowned Austrian artist Gustav Klimt, believed to have vanished for a century, has resurfaced in Vienna, stirring waves of excitement and speculation in the art world. The painting, titled “Portrait of Fraulein...
Two Egon Schiele Works Restituted to Holocaust Victim Heirs Set for Auction

Two Egon Schiele Works Restituted to Holocaust Victim Heirs Set for Auction

by News Desk | Jan 20, 2024 | Art market news

In a significant development, two artworks by Egon Schiele restituted to the heirs of Austrian Jewish cabaret performer Fritz Grünbaum, are slated for auction after being returned on Friday. Grünbaum, who perished in the Holocaust, allegedly had his art collection...
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