Art Industry News: Wait, has the British government just changed the air on the Parthenon marbles? + Other stories
Art Industry News is a daily digest of the most important developments in the art world and the art market. Here is what you need to know on Tuesday, November 16.
NEED TO READ
Donor battle shakes Hamptons sculpture garden – More than 30 patrons of the LongHouse Reserve Sculpture Garden in the Hamptons withhold more gifts to protest the organization’s sacking of longtime director Matko Tomicic following the death of LongHouse founder, textile designer Jack Lenor Larsen. The board, which is looking to expand the 16-acre garden into a museum that includes Larsen’s house, said it wanted a curator with broader experience. You know what they say about a divided LongHouse … (New York Times)
Samsung President’s art will be showcased across Korea – The National Museum of Modern and Contemporary Art of Korea will exhibit the famous art collection of the late Samsung Group Chairman Lee Kun-hee in a series of nationwide exhibitions through 2024. The exhibition Itinerant will first be co-organized by the MMCA and the National Museum. from Korea next year before visiting 10 different local museums over the next three years. (Korea weather)
British government changes tone on Parthenon marbles – The British Museum should be tasked with deciding whether or not to return the Parthenon marbles to Greece, the British Prime Minister’s Office said today. The announcement represents a change from the government’s long-held position that the logs should stay in Britain. Greek Prime Minister Kyriakos Mitsotakis was due to discuss the subject in a meeting with Boris Johnson today. Asked about the meeting, a Downing Street spokesperson said the British Museum was operating independently and should have the final say on the matter. The museum has long claimed that the sculptures were obtained legally. (Guardian)
NFT Art and Collectibles Sales Go Forward – The number of NFTs sold in the art and collectibles category fell to just 86,870 last week, the lowest number of weekly sales since the first week of January 2021, according to Block Research. But the prices remain strong. The average price of an NFT in the category was $ 127,000 last week, among the highest numbers on record. (The block)
MOVERS AND IMPROVERS
Yieldstreet launches new fund for investing in art – Call it the Masterworks effect. The Yieldstreet investment platform is launching a fund that allows investors to buy stocks in a portfolio of works of art. Called the Art Equity Platform, the first fund will be less than $ 10 million and include works by George Condo, Keith Haring and Kenny Scharf. A minimum investment of $ 10,000 is required. The ambitious initiative aims for returns of between 15% and 17% over a five-year holding period. (CNBC)
New Curators at the Smithsonian – The Smithsonian National Museum of Asian Art has appointed Diana Jocelyn Greenwold Curator of American Art and Sol Jung Assistant Curator of Japanese Art. Greenwold was previously curator at the Portland Museum of Art in Maine; Jung, a specialist in Japanese art history, recently received his doctorate from Princeton. (Daily Artfix)
Mary Bauermeister wins the German State Art Nouveau Prize – The artist from Fluxus, 87, has won the first North Rhine-Westphalia Art Prize, a new prize worth € 25,000 awarded to a contemporary artist linked to North West Germany. (ARTnews)
The restored drawing of the Spitzweg goes up for auction – A Nazi-looted pencil drawing of German Romantic painter Carl Spitzweg that has been restored from the Gurlitt Collection is now on sale online at Christie’s through November 24. The depiction of a couple playing music for an elderly woman, which is estimated to fetch between € 1,000 and € 1,500, originally belonged to Jewish music producer and collector Henri Hinrichsen, who was murdered at Auschwitz in 1942. (Monopoly)
FOR THE LOVE OF ART
Arthur Jafa Guest-Edits username Review – The artist and filmmaker, who recently started his latest work in New York City, was guest editor for the magazine’s winter issue. username. Called The Darker Issue, it features innovators in film, photography, art and activism, including photographers Deana Lawson and Ming Smith, video artist Kahlil Joseph, and art dealer. by Jafa Gavin Brown. (Instagram)
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