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Category Archives: Art Valuation

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Skate’s Unveils Its Art Industry Scorecard 2013 in Part 2 of Skate’s Annual Art Investment Report for 2013

Posted in Art Finance, Art Valuation

In Part 2 of Skate’s Annual Art Investment Report for 2013, Skate’s Art Market Research reveals its Art Industry Scorecard 2013, a unique art industry rating created by Skate’s in 2012.  The companies selected for the recently developed rating participate in the art industry either through a significant part of their activities or have an… Continue Reading

Update – Sotheby’s Fetches $13M USD for Esmerian Collection of Folk Art

Posted in Art Finance, Art Valuation, Litigation Issues, Uncategorized, Valuation

Last month, Sotheby’s sold the art collection of former jeweler to the stars, art collector and former chairman of the Folk Art Museum in New York City, Ralph O. Esmerian.  Fetching $13M USD, the sale has been reported to be the highest for any American folk art collection.  As reported in a previous blog post, Esmerian… Continue Reading

Skate’s Annual Art Investment Report For 2013 Explores Most Significant Trends In Commercial Art World

Posted in Art Valuation

With the much anticipated recent release of Skate’s Annual Art Investment Report for 2013 – Part 1, Skate’s Art Market Research analyzes the art market’s top segment through its proprietary rating, referred to as Skate’s Top 5000, which includes the 5,000 most valuable artworks sold at public auctions throughout the world over the past nearly… Continue Reading

DETROIT BANKRUPTCY – ART MUSEUM TO RAISE FUNDS TO SAVE COLLECTION FROM SALE

Posted in Art Valuation

The Detroit Institute of Arts (DIA) has pledged to contribute $100 million towards a fund established by private foundations and the state of Michigan for the safeguarding of the DIA’s art collection and city pension funds.   The goal of the fund is to reach a settlement with pensioners and avoid protracted litigation.  As a key part of… Continue Reading

Christie’s Fall Art Auction Sale of Francis Bacon Painting Sets World Record

Posted in Art Valuation

As recently reported in this article, earlier this week at Christie’s Postwar and Contemporary Art sale in New York, a 1969 painting by Francis Bacon entitled “Three Studies of Lucian Freud” fetched $142.4 million.  This week’s sale of the Bacon painting sets a new world record for most expensive artwork ever sold at auction.  Edvard… Continue Reading

Austrian Restitution Law Opens the Door to Return of Valuable Gustav Klimt Work

Posted in Art Recovery/Theft, Art Valuation, Litigation Issues, Valuation

In 2009 the restitution laws of Austria were amended to include works of art that were sold to the government at a discount due to an export ban on art.  In a recent case involving a valuable frieze inspired by Beethoven’s Ninth Symphony that was crafted by Gustav Klimt in 1902, a panel of art… Continue Reading

Update – Detroit’s Bankruptcy News and the Future of the DIA’s Art Collection

Posted in Art Valuation, Litigation Issues

As a follow-up to my previous post regarding Detroit, many of you may have heard by now that the city filed for bankruptcy in mid-July.  In recent weeks, there is more controversy over Detroit’s bankruptcy filing, which endangers the renowned art collection housed at the Detroit Institute of Arts (DIA).  The art world has been in a tizzy since news… Continue Reading

Art Insurance Shouldn’t Be Abstract – By Katherine Wood, contributor to the HomeInsurance.com Blog (Guest Blogger)

Posted in Art Valuation

You know how fragile art can be, so make sure you’re properly covered for the extent of your art investment. Potential coverage for fine art differs widely based on the customer. Make sure you’re covered for all foreseeable disasters so your collection of masterpieces doesn’t slip between your fingers. Paint thieves out of the picture… Continue Reading

SKATE’S ART MARKET RESEARCH LAUNCHES SKATE’S FOCUS WITH INSIDE VIEW OF POLAND’S ART MARKET FOR INAUGURAL ISSUE

Posted in Art Finance, Art Valuation

As a supplement to its highly acclaimed publications devoted to the state of the global art market, Skate’s Art Market Research recently launched its latest publication entitled Skate’s Focus. In its selection of the country of Poland, regarded as a “young but innovative and quickly growing art market in central Europe,” for the pilot issue Skate’s… Continue Reading

ART STUDENTS AT THE RENOWNED PRATT INSTITUTE SUFFER HEART BREAKING ART LOSS AFTER FIRE DESTROYS STUDIO

Posted in Art Valuation

On Friday February 15, 2013 a devastating fire ravaged Pratt Institute’s historic landmark six-story main building in Brooklyn, New York.  Designed by Lamb & Rich Architects, the Romanesque Revival fortress dating back to 1887 was designated a New York City landmark and has been on the national register of historic places along with thirty-five (35)… Continue Reading

GLOBAL HIGH-END ART MARKET TRUMPS EUROPE’S STILL UNCERTAIN ECONOMY

Posted in Art Valuation

This latest post is a follow up to my colleague Daniel Schnapp’s recent post from earlier this week on last week’s London art auctions. Last week London art auctions brought in about $440 million with international bidders not shy about snapping up various high-profile works in the high-end art market, as recently reported in this article.  Two… Continue Reading

ART WORLD’S RECORD-BREAKING YEAR OF 2012 AS TOP 10 EARNERS AT AUCTION SURPASSED A HALF BILLION IN SALES

Posted in Art Valuation

According to a recent post in The Art World Daily, 2012 represented a “record-breaking year” for the art world, which is not surprising considering last May’s nearly $120 million sale of Edvard Munch’s The Scream.  Art proved to be a favored alternative with investors to the volatile global stock market in 2012 as the top ten highest earners… Continue Reading

SKATE’S TO PUBLISH ITS ANNUAL ART INVESTMENT REPORT FOR 2012 IN THREE PARTS

Posted in Art Valuation

Skate’s Art Market Research recently announced that it would publish its Annual Art Investment Report for 2012 in three parts.  In the first part published earlier this month, Skate’s examines its Top 5000 ranking of the art world’s most valuable works of art as determined by public auction price.  Specifically, Skate’s addresses the various changes that occurred… Continue Reading

STOLEN MATISSE FROM STOCKHOLM MUSEUM 25 YEARS AGO RECOVERED

Posted in Art Recovery/Theft, Art Valuation

Earlier this week, British art recovery specialist Christopher Marinello of the Art Loss Register ("ALR") in London successfully recovered a painting by French artist Henri Matisse stolen from the Moderna Museet in Stockholm back in May 1987, as recently reported by MSN.com.  Matisse’s "Le Jardin" painting is currently valued at just under $1 million (i.e., $916,200).  The… Continue Reading

SOTHEBY’S SALE OF EIGHTEENTH CENTURY ELGIN MARBLE BUST FROM ROME GARNERS CONSIDERABLE INTEREST AMONG ART COLLECTORS

Posted in Art Valuation

Earlier this month, art auction house Sotheby’s presented a marble bust owned by Lord Elgin (Thomas Bruce, 7th Earl of Elgin) and acquired from Rome in 1799.  As reported in a recent Telegraph article, the Elgin bust was never sold and had stayed in the family ever since.  It is further notable that the Elgin bust had no… Continue Reading

ROTHKO PAINTING NO. 1 SURPASSES EXPECTATIONS AND SELLS FOR $75.1 MILLION AT SOTHEBY’S

Posted in Art Valuation

Earlier this week on Tuesday evening at auction house Sotheby’s a highly acclaimed painting by artist Mark Rothko sold for $75.1 million to an undisclosed buyer.  Rothko’s 1954 painting "No.1 (Royal, Red and Blue)" commanded the second highest price ever for a Rothko, according to a recent Los Angeles Times article.  The New York Times describes Rothko’s "No…. Continue Reading

NEW YORK’S FALL ART AUCTION SEASON OPENS WITH MEDIOCRE RESULTS AT CHRISTIE’S AND SOTHEBY’S

Posted in Art Valuation

Last week’s fall art auction season opening was not an exceptional one for both art auction houses Christie’s and Sotheby’s, according to a recent New York Times article.  It was widely reported that both premier art auction houses had padded their respective sales with so-called "mediocre material" and buyers were privy to this.  The atmosphere was described as… Continue Reading

NEW YORK’S FALL AUCTION SEASON OPENS NEXT WEEK WITH PRIZED ART FROM THE ART WORLD’S SAVVIEST COLLECTORS

Posted in Art Valuation

Less than a week away, the much anticipated fall auction season in New York will open on November 7 with several hundred million dollars’ worth of drawings, paintings, and sculptures, at the big auction houses in town, namely, Christie’s, Sotheby’s, and Phillips de Pury & Company.  A vast range of renowned art works are being sold by collectors who… Continue Reading

PROMINENT BOND TRADER’S STOLEN $10-MILLION CONTEMPORARY ART COLLECTION RECOVERED

Posted in Art Recovery/Theft, Art Valuation

As recently reported by the LA Times, Jeffrey Gundlach, regarded as one of the world’s preeminent fund managers, will receive his nearly $10-million contemporary art collection back that was stolen from his Santa Monica, California home in mid-September.  A record $1.7-million reward was offered by Gundlach for the safe return of his prized collection. After… Continue Reading

SEVEN-FIGURE REWARD OFFERED FOR RETURN OF STOLEN CONTEMPORARY ART FROM PRIVATE OWNER’S PRIZED COLLECTION

Posted in Art Recovery/Theft, Art Valuation

According to a LA Times article, a $1.7 million dollar reward has been offered by one of the world’s top financial executives, Jeffrey Gundlach, for the safe return of prized contemporary art stolen from his home in Santa Monica, California last week.  Some of the most well known names in contemporary art were included in the $10… Continue Reading

Fine Chinese Ceramics and Works of Art Featured at Christie’s New York in Mid-September

Posted in Art Valuation

Christie’s New York will be auctioning off over 500 lots of Fine Chinese Ceramics and Works of Art (Parts I and II) on September 13-14, 2012.  According to Art Daily, a broad range of various art and objects will be featured at the upcoming auction, including ceramics, jade, porcelain, and archaic and later bronzes.  A green jade brush pot… Continue Reading

ITALIAN ART HISTORIANS’ CLAIM OF 100 CARAVAGGIO WORKS QUESTIONED BY ART WORLD

Posted in Art Valuation

A recent discovery by a pair of Italian art historians, Maurizio Bernardelli Curuz, the artistic director of the Brescia Museum Foundation, and his co-researcher colleague, Adriana Conconi Fedrigolli, of a collection of 100 works claimed to be from a student Caravaggio could be worth around $900 million if proven such works are authentic.  The works from the collection have… Continue Reading

CHRISTIE’S AUCTION TO FEATURE ESTABLISHED ARTISTS AT RELATIVELY LOW PRICES IN MID-JULY

Posted in Art Valuation

This month’s auction at Christie’s in New York on July 16 will provide contemporary art collectors an opportunity to acquire works by a number of prominent artists at discount prices.  The Open House sale will feature such artists as Andy Warhol, Cindy Sherman, Robert Longo, and Gerhard Richter, among others.  The auction will include pieces… Continue Reading

“Scream” Sells for $119.9 Million

Posted in Art Valuation

Edvard Munch’s "The Scream" (1895), discussed earlier this week on the blog, sold last night for $119.9 million, "becoming the world’s most expensive work of art to ever sell at auction" (New York Times).  Within 12 minutes, the work has sold to a phone bidder, through Sotheby’s EVP Charles Moffett. The previous record, Picasso’s "Nude, Green… Continue Reading