An ancient cuneiform clay cylinder detailing the achievements of Nebuchadnezzar II broke the world auction record for a Babylonian cylinder in a sale today at Doyle New York. The 8.25-inch cylinder, which was the largest of its kind to come to market for some time, exceeded its $300,000 to $500,000 estimate to achieve a $605,000 price that included the buyer’s premium. The previous record for such a cylinder was £264,000 (approx. $440,000).
In the Air – Art News & Gossip
Archive for the ‘Market’ Category
It’s no Sputnik, but it’s close. The Vozvrashchayemyi Apparat, a Russian space capsule, will be the first capsule of its kind to be auctioned in Lempertz auction house’s newly opened Brussels branch in a special Space Sale on May 7. The VA Space Capsule, which has a $1 million to $2 million estimate, is presumed to be the first spacecraft to enter space twice. This success was a major milestone for Soviet engineers during the Race to the Moon and the Cold War.
PULSE New York has announced the names of 46 exhibitors that will show at the fair’s 2014 edition from May 8 to 11 during Frieze week, though they are still in the process of securing a few more participants. Under the direction of newly appointed head Helen Toomer, the fair has significantly decreased the number of participants from last year’s 62. This year, among other changes, PULSE will also put all of the booths on a single level of the Metropolitan Pavilion, meaning that the IMPULSE section for younger galleries will be integrated into the main fair.
After hanging in private collections for almost 400 years, Sir Anthony Van Dyck’s 1640 self-portrait may soon call the National Portrait Gallery of London its home. The combined efforts of a British outcry to keep the painting in the UK and the National Portrait Gallery and the Art Fund’s campaign to raise money for the artwork’s acquisition have influenced the Los Angeles-based, British billionaire financier James Stunt to withdraw his claim to the painting.
New York art dealer Barry Friedman has been collecting since the early 1960s. A love for buying and selling led him to, as he says, “take the plunge,” and start his own business as a runner. Decades later, the Manhattan-based dealer has decided to retire and more than 400 lots, drawn from his homes and stock, are going under the hammer this week at Christie’s, as a series of four sales titled “The Eclectic Eye. Blouin ARTINFO and Art+Auction editor-at-large Judd Tully sat down with Friedman to discuss the sale.
— Gurlitt Will Return Works: After repeatedly saying he would not restitute looted artworks from his vast trove, Cornelius Gurlitt has suddenly announced that he will begin to return paintings to their owners or the owners’ heirs. The first work, Henri Matisse’s “Seated Woman/Woman Sitting in Armchair,” will be returned to the descendants of Paul Rosenberg. “Mr. Gurlitt has given us free rein to return those pictures that belonged to Jews to their previous owners or their descendants,” said Christoph Edel, a lawyer representing Gurlitt. [NYT]
“Antiques Roadshow” fans, some of your questions about the mysteries of on-air appraisal magic have been answered. In an extensive interview published Tuesday morning, A.V. Club’s John Teti probed Nicholas D. Lowry, longtime auctioneer for the show and president of Swann Galleries, about the nuances of the program’s appraisals and some his most memorable experiences from the road. (more…)
DUBAI, United Arab Emirates — Art Dubai, which just completed its eight edition, running March 19-22, appears to be faring better than ever. The same might be said for its home in the Persian Gulf, the Emirati state that hosts the most important art fair in the Middle East each year. Dubai’s current building boom reflects the city’s booming economy — and yet, many of the works for sale at the fair are priced under $100,000. (more…)
A second contemporary art fair is being launched to compete with Canada’s Art Toronto fair in the fall this year. Titled the Feature Art Fair, it is organized by the Association des galeries d’art contemporain (AGAC), a non-profit organization that established the more niche Montreal fair, Papier, seven years ago. Feature will model itself on intimate fairs like NADA and Independent, presenting around twenty Canadian galleries and requesting them to show a maximum of three artists each.