Just before its anniversary, Sotheby’s releases its numbers for 2018

Marking Sotheby’s 275th anniversary, the auction house recently reported its final numbers for 2018. On February 28th, Sotheby’s, a publicly traded company, posted a press release with their fourth quarter earnings and overall numbers for 2018. For 2018, Sotheby’s net income came in right at $108.6 million, about $10 million below 2017’s income of $118.8 […]

As the Brexit deadline nears, UK pavilions think ahead to the Venice Biennale

Nearly two months ahead of the start of the 58th Venice Biennale, artists and galleries from the UK are already shipping artworks to mainland Europe for safe holding. The extra cushion of time is due to concerns over the upcoming deadline for Brexit: March 29th. By shipping artworks ahead of B-day, so to speak, artists […]

Frieze shareholder Endeavor returns $400m investment to Saudi Arabia

Endeavor, the Hollywood-based talent agency that bought 70% of Frieze in 2016, has now returned a $400 million investment to its source, the Saudi Arabian Public Investment Fund, according to the New York Times. The deal closed in April of last year and gave the Saudi Arabian fund less than 10% in Endeavor. Following the […]

Sotheby’s First Auction of an AI Artwork Brings a Modest £40,000

Sotheby’s is the latest player to foray into the market for artworks created using artificial intelligence after selling a work by Mario Klingemann in London last week. The work, entitled Memories of Passersby I, is an innovative installation that uses neural networks to create an infinite stream of imaginary portraits projected onto two large screens. […]

Dutch Museum to return artefacts stolen from other countries

The Netherlands’ National Museum for World Cultures (NMVW) announced that it will be returning artefacts taken through colonial looting to their countries of origin. The museum will not be waiting for claims to act, but instead is actively researching its collections to flag and return objects that qualify for repatriation. “We know that part of our […]

Repatriation, meet authentication: how a Hawaiian sculpture is raising curiosity

What happens when the authenticity of a repatriated artwork is called into question? That’s exactly what the Bernice Pauahi Bishop Museum (BPBM) in Honolulu may have to figure out after Marc Benioff, a tech billionaire, donated a wooden statue of a Hawaiian war god in 2018 that he’d purchased for $7.5 million. The 21-inch statue […]

New York art dealer detained (again) due to Nazi-looted painting

Today, Russian-born art dealer based in New York Alexander Khochinsky will be released from France to head to Poland for a hearing concerning a painting Khochinsky claims to have received from his father. On February 25th, Khochinsky was detained by French authorities on behalf of the Polish government at Paris’ Charles de Gaulle Airport. Since his detention, he was […]