Most people buy art because they love to look at it, but there’s always the hope that the payoff will go beyond aesthetics. The prices of photographer Cindy Sherman’s works have risen 11-fold in 15 years, according to Artnet, while Gerhard Richter’s paintings are 37 times more expensive. Damien Hirst’s works are up 22-fold, while
In a spacious, luxury apartment perched on the leafy hills of Hong Kong, Kai-Yin Lo browses through a trove of Chinese art acquired over several decades, reflecting how her niche, scholarly pursuit has now hit the mainstream. Despite giddy Chinese art prices showing some strain from global economic uncertainty, collectors like to think values will
When Chicago-based Leslie Hindman Auctioneers held its Asian arts sale in May of this year, they expected sales of somewhere around a million dollars. The sale ended up racking up $4.2 million—with 80% of the buyers coming from China. Leslie Hindman, the founder of that auctioneer and the former host of HGTV’s At the Auction,
The Museum of Fine Arts has agreed to pay restitution to the heir of a Jewish art dealer killed at Auschwitz after determining that a 17th-century Dutch painting in its collection was once owned by him and was probably plundered by the Nazis. With the deal, which culminates a more than decade-long investigation by the
The Bay Area has long been knocked for its lack of commercial prospects for artists of all stripes, including visual ones. San Francisco may be teeming with young creative types, but most who want to make a living from art depart for New York or Los Angeles, where strong gallery scenes are complemented by scads
A unique 1945 Joan Miro wood sculpture, “Oiseau Lunaire,” priced at $5 million, was confirmed sold today at the opening of the world’s largest art-and-antiques fair. The Miro had been put on reserve at the booth of the Montreal-based gallery Landau Fine Art Inc. during yesterday’s VIP preview of Tefaf, the European Fine Art Fair,
CNN) — A Paris company is launching a stock exchange with a difference Monday — one that buys and sells shares in art. Art Exchange will allow investors to buy and sell shares in modern and contemporary art works — including paintings, sculptures and photographs — valued at €100,000 ($130,000) and above, with prices quoted
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